Company No:
Contents
Note | 2023 | 2022 | ||
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Fixed assets | ||||
Investment property | 3 |
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Investments | 4 |
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413,244 | 414,061 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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1,304,058 | 1,287,416 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 1,288,390 | 1,137,459 | ||
Total assets less current liabilities | 1,701,634 | 1,551,520 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Abellum Limited (registered number:
Mr V Piscopo
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Abellum Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The fair value is determined annually by the director, on an open market value for existing use basis.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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The company is run and administered by the director of the company for whom no formal contract of service is in place.
Investment property | |
£ | |
Valuation | |
As at 01 August 2022 |
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Additions | 579 |
Disposals | (396) |
As at 31 July 2023 |
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The investment property was valued at 31 July 2023 by the director on open market basis.
The class of asset has a current value of £412,992 (2022 - £412,809) and a carrying amount at historical cost of £412,992 (2022 - £412,809). The depreciation on this historical cost is £nil (2022 - £nil).
There has been no valuation of investment property by an independent valuer.
Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 August 2022 |
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At 31 July 2023 |
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Carrying value at 31 July 2023 |
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Carrying value at 31 July 2022 |
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Investments in associates | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 August 2022 |
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Disposals | (
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At 31 July 2023 |
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Carrying value at 31 July 2023 |
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Carrying value at 31 July 2022 |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Other debtors |
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£ | £ | ||
Bank loans |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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Other creditors |
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During the year the director maintained an interest free loan with the company which is repayable on demand. At the balance sheet date the amount due from the company was £1,628 (2022 - £1,316).