ADOP UK LTD 02943420 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is the letting of commercial property. Digita Accounts Production Advanced 6.30.9574.0 true true true 02943420 2022-01-01 2022-12-31 02943420 2022-12-31 02943420 bus:OrdinaryShareClass1 2022-12-31 02943420 core:RetainedEarningsAccumulatedLosses 2022-12-31 02943420 core:ShareCapital 2022-12-31 02943420 core:CurrentFinancialInstruments 2022-12-31 02943420 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02943420 bus:SmallEntities 2022-01-01 2022-12-31 02943420 bus:Audited 2022-01-01 2022-12-31 02943420 bus:FullAccounts 2022-01-01 2022-12-31 02943420 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 02943420 bus:RegisteredOffice 2022-01-01 2022-12-31 02943420 bus:CompanySecretaryDirector1 2022-01-01 2022-12-31 02943420 bus:Director2 2022-01-01 2022-12-31 02943420 bus:Director3 2022-01-01 2022-12-31 02943420 bus:Director4 2022-01-01 2022-12-31 02943420 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 02943420 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 02943420 1 2022-01-01 2022-12-31 02943420 countries:EnglandWales 2022-01-01 2022-12-31 02943420 2021-12-31 02943420 2021-01-01 2021-12-31 02943420 2021-12-31 02943420 bus:OrdinaryShareClass1 2021-12-31 02943420 core:RetainedEarningsAccumulatedLosses 2021-12-31 02943420 core:ShareCapital 2021-12-31 02943420 core:CurrentFinancialInstruments 2021-12-31 02943420 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02943420

ADOP UK LTD

Filleted Financial Statements

for the Year Ended 31 December 2022

 

ADOP UK LTD

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

ADOP UK LTD

Company Information

Directors

G Desjonqueres

R A Cole

N Foyster

P Desjonqueres

Company secretary

G Desjonqueres

Registered office

51 Lode Road
Bottisham
Cambridgeshire
CB25 9DJ

Auditors

JA Audit Limited
Statutory Auditor
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

 

ADOP UK LTD

(Registration number: 02943420)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Investment property

4

200,000

200,000

Current assets

 

Debtors

5

541

480

Cash at bank and in hand

 

16,667

25,090

 

17,208

25,570

Creditors: Amounts falling due within one year

6

(514,265)

(514,333)

Net current liabilities

 

(497,057)

(488,763)

Net liabilities

 

(297,057)

(288,763)

Capital and reserves

 

Called up share capital

7

5,000

5,000

Retained earnings

(302,057)

(293,763)

Shareholders' deficit

 

(297,057)

(288,763)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 November 2023 and signed on its behalf by:
 

.........................................
N Foyster
Director

 

ADOP UK LTD

Notes to the Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
51 Lode Road
Bottisham
Cambridgeshire
CB25 9DJ

These financial statements were authorised for issue by the Board on 24 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At 31 December 2022 the company's current liabilities exceeded its current assets by £497,057 (2021 - £488,763). The company meets its financing requirements through a loan facility provided by its parent company Fadegest SA. At the year end the loan amounted to £510,265 (2021 - £510,265). The directors have received assurances from Fadegest SA that the parent company will continue to provide financial support to ADOP UK Ltd to allow it to meet its liabilities as they fall due and continue to trade.

As such the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future and, therefore, they continue to adopt the going concern basis in preparing the financial statements.

 

ADOP UK LTD

Notes to the Financial Statements for the Year Ended 31 December 2022

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 24 November 2023 was Christopher Kelly FCA, who signed for and on behalf of JA Audit Limited.

.........................................

Revenue recognition

Turnover comprises of rents receivable from the letting of commercial property. Rents are recognised in the period to which the rent relates. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value determined annually by the directors and derived from historic independent professional advice and assessment of the property's income potential. No depreciation is provided. Changes in the fair value are recognised in the statement of income and retained earnings.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Short term debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

ADOP UK LTD

Notes to the Financial Statements for the Year Ended 31 December 2022

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2021 - 3).

4

Investment properties

2022
£

At 1 January

200,000

At 31 December

200,000

The 2022 valuations were made by the directors, on a fair value basis.



There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2022
£

2021
£

Prepayments

541

480

 

ADOP UK LTD

Notes to the Financial Statements for the Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

-

444

Amounts owed to group undertakings and undertakings in which the company has a participating interest

495,403

495,403

Accruals and deferred income

 

18,862

18,486

 

514,265

514,333

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

5,000

5,000

5,000

5,000

         

8

Parent and ultimate parent undertaking

The company's immediate parent is Fadegest SA, incorporated in France.

  These financial statements are available upon request from 43 Rue Du Theatre
75015 Paris
France