Company registration number 14156115 (England and Wales)
ADP III HOLDING 7 LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
ADP III HOLDING 7 LIMITED
COMPANY INFORMATION
Directors
Ziad Abaza
(Appointed 7 June 2022)
Jean-Philippe Elie Henry Syed
(Appointed 7 June 2022)
Muna Abdulle
(Appointed 6 March 2024)
Secretary
Intertrust (UK) Limited
Company number
14156115
Registered office
1 Bartholomew Lane
London
United Kingdom
EC2N 2AX
ADP III HOLDING 7 LIMITED
CONTENTS
Page
Directors' report
1
Profit and loss account
2
Balance sheet
3
Notes to the financial statements
4 - 5
ADP III HOLDING 7 LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 1 -
The directors present their annual report and financial statements for the Period ended 31 December 2022.
Principal activities
The principal activity of the company was that of an investment holding entity.
Directors
The directors who held office during the Period and up to the date of signature of the financial statements were as follows:
Ziad Abaza
(Appointed 7 June 2022)
Jean-Philippe Elie Henry Syed
(Appointed 7 June 2022)
Muna Abdulle
(Appointed 6 March 2024)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
..............................
Ziad Abaza
Director
Date: .............................................
2024-03-07
ADP III HOLDING 7 LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 2 -
Period from 06 June 2022 - 31 December 2022
USD$
Administrative expenses
(95)
Loss before taxation
(95)
Tax on loss
Loss for the financial Period
(95)
The profit and loss account has been prepared on the basis that all operations are continuing operations.
ADP III HOLDING 7 LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 3 -
As at 31 December 2022
Notes
USD$
USD$
Current assets
Cash at bank and in hand
905
905
Creditors: amounts falling due within one year
3
(997)
Net current liabilities
(92)
Net assets/(liabilities)
(92)
Capital and reserves
-
Called up share capital
3
Profit and loss reserves
(95)
Total equity
(92)
For the financial Period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by:
2024-03-07
..............................
Ziad Abaza
Director
Company Registration No. 14156115
ADP III HOLDING 7 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
- 4 -
1
Accounting policies
Company information
ADP III HOLDING 7 LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 1 Bartholomew Lane, London, United Kingdom, EC2N 2AX.
1.1
Reporting period
The Company's financial year starts 1 January and ends 31 December except for this first period. The first financial period is for 7 months which started from the date of incorporation i.e. 7 June 2022 until 31 December 2022.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in USD$, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest USD$.
The financial statements have been prepared under the historical cost convention.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
ADP III HOLDING 7 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Creditors: amounts falling due within one year
USD$
USD$
Amounts due to related parties
997