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Company Registration No. 13441737 (England and Wales)
Adsum Finance Ltd Unaudited accounts for the year ended 30 June 2023
Adsum Finance Ltd Unaudited accounts Contents
Page
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Adsum Finance Ltd Company Information for the year ended 30 June 2023
Directors
Justina Tartilaite Frederick John Wingfield Digby
Company Number
13441737 (England and Wales)
Registered Office
1 Lyric Square London W6 0NB England
Accountants
ABR Chartered Accountants 2-4 Eastern Road St Georges House Romford RM1 3PJ
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Adsum Finance Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
840,350 
4,868,830 
Cash at bank and in hand
(71)
1,380,378 
840,279 
6,249,208 
Creditors: amounts falling due within one year
(838,962)
(6,248,704)
Net current assets
1,317 
504 
Net assets
1,317 
504 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
1,315 
502 
Shareholders' funds
1,317 
504 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by
Frederick John Wingfield Digby Director Company Registration No. 13441737
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Adsum Finance Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Adsum Finance Ltd is a private company, limited by shares, registered in England and Wales, registration number 13441737. The registered office is 1 Lyric Square, London, W6 0NB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
840,350 
4,842,225 
Amounts due from group undertakings etc.
- 
26,605 
840,350 
4,868,830 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
5,209 
77,006 
Amounts owed to group undertakings and other participating interests
833,753 
- 
Taxes and social security
- 
118 
Other creditors
- 
6,036,101 
Loans from directors
- 
98 
Deferred income
- 
135,381 
838,962 
6,248,704 
6
Transactions with related parties
Adsum Technologies Ltd is a related party as it is a parent company of Adsum Finance Ltd. As a result of parent company transactions, the total amount owed to Adsum Technologies Ltd is £870,769 (2022: £52,002). A1T1 Ltd is a related party due to the composition of the shareholders. As a result of intercompany transactions, the total amount owed from A1T1 Ltd is £37,017 (2022: £78,612).
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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