Adstock Investments Ltd 14469232 false 2022-11-08 2024-04-30 2024-04-30 The principal activity of the company is 68209 Digita Accounts Production Advanced 6.30.9574.0 true 14469232 2022-11-08 2024-04-30 14469232 2024-04-30 14469232 bus:Director1 2024-04-30 14469232 core:CurrentFinancialInstruments 2024-04-30 14469232 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14469232 core:Non-currentFinancialInstruments 2024-04-30 14469232 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 14469232 bus:SmallEntities 2022-11-08 2024-04-30 14469232 bus:AuditExemptWithAccountantsReport 2022-11-08 2024-04-30 14469232 bus:FullAccounts 2022-11-08 2024-04-30 14469232 bus:SmallCompaniesRegimeForAccounts 2022-11-08 2024-04-30 14469232 bus:RegisteredOffice 2022-11-08 2024-04-30 14469232 bus:Director1 2022-11-08 2024-04-30 14469232 bus:PrivateLimitedCompanyLtd 2022-11-08 2024-04-30 14469232 countries:EnglandWales 2022-11-08 2024-04-30 iso4217:GBP xbrli:pure

Registration number: 14469232

Adstock Investments Ltd

Annual Report and Unaudited Financial Statements

for the Period from 8 November 2022 to 30 April 2024

 

Adstock Investments Ltd

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 7

 

Adstock Investments Ltd

Company Information

Director

Mr A Bhailok

Registered office

3 Cable Court
Pittman Way
Fulwood
Preston
PR2 9YW

 

Adstock Investments Ltd

Director's Report for the Period from 8 November 2022 to 30 April 2024

The director presents his report and the financial statements for the period from 8 November 2022 to 30 April 2024.

Incorporation

The company was incorporated on 8 November 2022.

Director of the company

The director who held office during the period was as follows:

Mr A Bhailok (appointed 8 November 2022)

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 6 August 2024 and signed on its behalf by:

.........................................
Mr A Bhailok
Director

   
     
 

Adstock Investments Ltd

Profit and Loss Account for the Period from 8 November 2022 to 30 April 2024

2024
£

Turnover

1,016,029

Gross profit

1,016,029

Administrative expenses

(97,226)

Other operating income

612

Operating profit

919,415

Interest payable and similar expenses

(708,333)

Profit before tax

211,082

Tax on profit

(47,653)

Profit for the financial period

163,429

 

Adstock Investments Ltd

(Registration number: 14469232)
Balance Sheet as at 30 April 2024

Note

2024
£

Fixed assets

 

Investment property

4

13,000,000

Current assets

 

Debtors

5

1

Cash at bank and in hand

 

355,315

 

355,316

Creditors: Amounts falling due within one year

6

(48,553)

Net current assets

 

306,763

Total assets less current liabilities

 

13,306,763

Creditors: Amounts falling due after more than one year

6

(13,143,333)

Net assets

 

163,430

Capital and reserves

 

Called up share capital

1

Retained earnings

163,429

Shareholders' funds

 

163,430

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 6 August 2024
 

.........................................
Mr A Bhailok
Director

   
     
 

Adstock Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 8 November 2022 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Cable Court
Pittman Way
Fulwood
Preston
PR2 9YW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from the rental of property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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 current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is recognised at cost on initial recognition. Subsequently, investment property is measured at fair value at the reporting date with any changes recognised in the profit and loss account.

 

Adstock Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 8 November 2022 to 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Investment properties

2024
£

Additions

13,000,000

At 30 April

13,000,000

 

Adstock Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 8 November 2022 to 30 April 2024

5

Debtors

Current

2024
£

Other debtors

1

 

1

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

47,653

Accruals and deferred income

900

48,553

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Other loans

7

10,708,333

Amounts due to parent undertaking

 

2,435,000

 

13,143,333

7

Loans and borrowings

Non-current loans and borrowings

2024
£

Other loans

10,708,333

Other loans are unsecured and accrue insterest at £41,666 per month. Other loans are repayable on 21 November 2037.

 

Adstock Investments Ltd

Detailed Profit and Loss Account for the Period from 8 November 2022 to 30 April 2024

2024
£

Turnover (analysed below)

1,016,029

Administrative expenses

Establishment costs (analysed below)

(95,169)

General administrative expenses (analysed below)

(1,777)

Finance charges (analysed below)

(280)

(97,226)

Other operating income (analysed below)

612

Operating profit

919,415

Interest payable and similar expenses (analysed below)

(708,333)

Profit before tax

211,082

 

Adstock Investments Ltd

Detailed Profit and Loss Account for the Period from 8 November 2022 to 30 April 2024

2024
£

 

Turnover

Rental income from investment property

868,006

Insurance recharge

148,023

1,016,029

 

Establishment costs

Insurance

(87,064)

Repairs and maintenance

(8,105)

(95,169)

 

General administrative expenses

Sundry expenses

(13)

Accountancy fees

(900)

Consultancy fees

(864)

(1,777)

 

Finance charges

Bank charges

(280)

 

Other operating income

Other operating income

612

 

Interest payable and similar expenses

Other loan interest

(708,333)