Registration number:
ADOP UK LTD
for the Year Ended 31 December 2022
ADOP UK LTD
Company Information
Directors |
G Desjonqueres R A Cole N Foyster P Desjonqueres |
Company secretary |
G Desjonqueres |
Registered office |
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Auditors |
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ADOP UK LTD
(Registration number: 02943420)
Balance Sheet as at 31 December 2022
Note |
2022 |
2021 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
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
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ADOP UK LTD
Notes to the Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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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
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
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2022 |
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At 1 January |
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At 31 December |
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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.
Debtors |
Current |
2022 |
2021 |
Prepayments |
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ADOP UK LTD
Notes to the Financial Statements for the Year Ended 31 December 2022
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Trade creditors |
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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5,000 |
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5,000 |
Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from 43 Rue Du Theatre
75015 Paris
France