Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Mr V Piscopo 04/10/2005 16 April 2024 The principal activity of the Company during the financial year was that of a holding company and also the letting of
property
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Company No: 05581756 (England and Wales)

ABELLUM LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

ABELLUM LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

ABELLUM LIMITED

BALANCE SHEET

As at 31 July 2023
ABELLUM LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 412,992 412,809
Investments 4 252 1,252
413,244 414,061
Current assets
Debtors 5 717,610 838,014
Cash at bank and in hand 586,448 449,402
1,304,058 1,287,416
Creditors: amounts falling due within one year 6 ( 15,668) ( 149,957)
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 ( 155,782) ( 158,761)
Net assets 1,545,852 1,392,759
Capital and reserves
Called-up share capital 750 750
Profit and loss account 1,545,102 1,392,009
Total shareholder's funds 1,545,852 1,392,759

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Abellum Limited (registered number: 05581756) were approved and authorised for issue by the Director on 16 April 2024. They were signed on its behalf by:

Mr V Piscopo
Director
ABELLUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
ABELLUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

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.

General information and basis of accounting

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

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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

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.

Taxation

Current tax
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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Fixed asset investments

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

The company is run and administered by the director of the company for whom no formal contract of service is in place.

3. Investment property

Investment property
£
Valuation
As at 01 August 2022 412,809
Additions 579
Disposals (396)
As at 31 July 2023 412,992

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.

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 August 2022 252
At 31 July 2023 252
Carrying value at 31 July 2023 252
Carrying value at 31 July 2022 252

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 August 2022 1,000 1,000
Disposals ( 1,000) ( 1,000)
At 31 July 2023 0 0
Carrying value at 31 July 2023 0 0
Carrying value at 31 July 2022 1,000 1,000

5. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 717,497 837,872
Other debtors 113 142
717,610 838,014

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 4,080 4,080
Taxation and social security 9,270 538
Other creditors 2,318 145,339
15,668 149,957

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 154,154 157,445
Other creditors 1,628 1,316
155,782 158,761

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

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).