Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01falseNo description of principal activity22true 08737448 2022-07-01 2023-06-30 08737448 2021-07-01 2022-06-30 08737448 2023-06-30 08737448 2022-06-30 08737448 2021-07-01 08737448 c:Director1 2022-07-01 2023-06-30 08737448 d:CurrentFinancialInstruments 2023-06-30 08737448 d:CurrentFinancialInstruments 2022-06-30 08737448 d:ShareCapital 2023-06-30 08737448 d:ShareCapital 2022-06-30 08737448 d:ShareCapital 2021-07-01 08737448 d:SharePremium 2023-06-30 08737448 d:SharePremium 2022-06-30 08737448 d:SharePremium 2021-07-01 08737448 d:CapitalRedemptionReserve 2023-06-30 08737448 d:CapitalRedemptionReserve 2022-06-30 08737448 d:CapitalRedemptionReserve 2021-07-01 08737448 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 08737448 d:RetainedEarningsAccumulatedLosses 2023-06-30 08737448 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 08737448 d:RetainedEarningsAccumulatedLosses 2022-06-30 08737448 d:RetainedEarningsAccumulatedLosses 2021-07-01 08737448 c:FRS102 2022-07-01 2023-06-30 08737448 c:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 08737448 c:FullAccounts 2022-07-01 2023-06-30 08737448 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08737448 6 2022-07-01 2023-06-30 08737448 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 08737448










ADFEN INVESTMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
ADFEN INVESTMENTS LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ADFEN INVESTMENTS LIMITED
FOR THE YEAR ENDED 30 JUNE 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Adfen Investments Limited for the year ended 30 June 2023 which comprise the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/ members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Adfen Investments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Adfen Investments Limited and state those matters that we have agreed to state to the Board of Directors of Adfen Investments Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adfen Investments Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Adfen Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Adfen Investments Limited. You consider that Adfen Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Adfen Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



James Cowper Kreston
 
Chartered Accountants
  
2 Chawley Park
Cumnor Hill
Oxford
Oxfordshire
OX2 9GG
5 February 2024
Page 1

 
ADFEN INVESTMENTS LIMITED
REGISTERED NUMBER: 08737448

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
2,028,396
2,028,396

  
2,028,396
2,028,396

Current assets
  

Debtors: amounts falling due within one year
 5 
10,000
10,000

Cash at bank and in hand
 6 
1,735
9,546

  
11,735
19,546

Total assets less current liabilities
  
 
 
2,040,131
 
 
2,047,942

  

Net assets
  
2,040,131
2,047,942


Capital and reserves
  

Called up share capital 
  
60,000
60,000

Share premium account
  
1,520,000
1,520,000

Capital redemption reserve
  
20,000
20,000

Profit and loss account
  
440,131
447,942

  
2,040,131
2,047,942


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 January 2024.



N Martin
Director

The notes on pages 4 to 5 form part of these financial statements.

Page 2

 
ADFEN INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 July 2022
60,000
1,520,000
20,000
447,942
2,047,942


Comprehensive income for the year

Profit for the year
-
-
-
370,189
370,189

Dividends: Equity capital
-
-
-
(378,000)
(378,000)


At 30 June 2023
60,000
1,520,000
20,000
440,131
2,040,131


The notes on pages 4 to 5 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 July 2021
60,000
1,520,000
20,000
442,644
2,042,644


Comprehensive income for the year

Profit for the year
-
-
-
323,298
323,298

Dividends: Equity capital
-
-
-
(318,000)
(318,000)


At 30 June 2022
60,000
1,520,000
20,000
447,942
2,047,942


The notes on pages 4 to 5 form part of these financial statements.

Page 3

 
ADFEN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The Company is a private Company, limited by share capital and incorporated in England and Wales. The principal activity of the Company was that of a holding Company.
The registered office address is Units 2 & 3 Glebe Court, West Oxfordshire Business Park, Carterton, Oxfordshire, England, OX18 3FX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
ADFEN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2022
2,028,396



At 30 June 2023
2,028,396





5.


Debtors

2023
2022
£
£


Other debtors
10,000
10,000



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,735
9,546


Page 5