REGISTERED NUMBER: 11147340 (England and Wales) |
Report of the Directors and |
Unaudited Consolidated Financial Statements for the Year Ended 31 December 2023 |
for |
Adamantean Consulting Limited |
REGISTERED NUMBER: 11147340 (England and Wales) |
Report of the Directors and |
Unaudited Consolidated Financial Statements for the Year Ended 31 December 2023 |
for |
Adamantean Consulting Limited |
Adamantean Consulting Limited (Registered number: 11147340) |
Contents of the Consolidated Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Consolidated Income Statement | 3 |
Consolidated Other Comprehensive Income | 4 |
Consolidated Balance Sheet | 5 |
Company Balance Sheet | 7 |
Consolidated Statement of Changes in Equity | 9 |
Company Statement of Changes in Equity | 10 |
Notes to the Consolidated Financial Statements | 11 |
Adamantean Consulting Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Berkeley House |
Amery Street |
Alton |
Hampshire |
GU34 1HN |
Adamantean Consulting Limited (Registered number: 11147340) |
Report of the Directors |
for the Year Ended 31 December 2023 |
The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the group in the year under review was that of the provision of financial leasing. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Adamantean Consulting Limited (Registered number: 11147340) |
Consolidated Income Statement |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
TURNOVER | 731,908 | 802,255 |
Cost of sales | 285,686 | 371,858 |
GROSS PROFIT | 446,222 | 430,397 |
Administrative expenses | 187,346 | 182,830 |
258,876 | 247,567 |
Other operating income | 883 | - |
OPERATING PROFIT | 4 | 259,759 | 247,567 |
Interest receivable and similar income | 724 | 41 |
260,483 | 247,608 |
Interest payable and similar expenses | 4,346 | 1,276 |
PROFIT BEFORE TAXATION | 256,137 | 246,332 |
Tax on profit | 45,696 | 48,222 |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 210,441 | 198,110 |
Adamantean Consulting Limited (Registered number: 11147340) |
Consolidated Other Comprehensive Income |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 210,441 | 198,110 |
OTHER COMPREHENSIVE INCOME |
Cryptocurrency Revaluation | 5,996 | (6,329 | ) |
Income tax relating to other comprehensive income |
- |
- |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
5,996 |
(6,329 |
) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
216,437 |
191,781 |
Total comprehensive income attributable to: |
Owners of the parent | 216,437 | 191,781 |
Adamantean Consulting Limited (Registered number: 11147340) |
Consolidated Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 | 10,213 | 4,217 |
Tangible assets | 7 | 912 | 2,918 |
Investments | 8 | - | - |
11,125 | 7,135 |
CURRENT ASSETS |
Debtors | 9 | 270,615 | 191,110 |
Cash at bank | 147,758 | 62,194 |
418,373 | 253,304 |
CREDITORS |
Amounts falling due within one year | 10 | 201,573 | 126,381 |
NET CURRENT ASSETS | 216,800 | 126,923 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
227,925 |
134,058 |
CREDITORS |
Amounts falling due after more than one year |
11 |
(132,095 |
) |
(46,688 |
) |
PROVISIONS FOR LIABILITIES | (181 | ) | (603 | ) |
NET ASSETS | 95,649 | 86,767 |
CAPITAL AND RESERVES |
Called up share capital | 12 | 20,000 | 20,000 |
Share premium | 4,000 | 4,000 |
Revaluation reserve | 13 | 213 | (5,783 | ) |
Retained earnings | 71,436 | 68,550 |
SHAREHOLDERS' FUNDS | 95,649 | 86,767 |
The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group. |
Adamantean Consulting Limited (Registered number: 11147340) |
Consolidated Balance Sheet - continued |
31 December 2023 |
The 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 16 July 2024 and were signed on its behalf by: |
G J Wilding - Director |
Adamantean Consulting Limited (Registered number: 11147340) |
Company Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Revaluation reserve | 13 | ( |
) |
Retained earnings |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 194,128 | 179,554 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Adamantean Consulting Limited (Registered number: 11147340) |
Company Balance Sheet - continued |
31 December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Adamantean Consulting Limited (Registered number: 11147340) |
Consolidated Statement of Changes in Equity |
for the Year Ended 31 December 2023 |
Called up |
share | Retained | Share | Revaluation | Total |
capital | earnings | premium | reserve | equity |
£ | £ | £ | £ | £ |
Balance at 1 January 2022 | 90,000 | 44,559 | 4,000 | 546 | 139,105 |
Changes in equity |
Issue of share capital | (70,000 | ) | - | - | - | (70,000 | ) |
Dividends | - | (174,119 | ) | - | - | (174,119 | ) |
Total comprehensive income | - | 198,110 | - | (6,329 | ) | 191,781 |
Balance at 31 December 2022 | 20,000 | 68,550 | 4,000 | (5,783 | ) | 86,767 |
Changes in equity |
Dividends | - | (207,555 | ) | - | - | (207,555 | ) |
Total comprehensive income | - | 210,441 | - | 5,996 | 216,437 |
Balance at 31 December 2023 | 20,000 | 71,436 | 4,000 | 213 | 95,649 |
Adamantean Consulting Limited (Registered number: 11147340) |
Company Statement of Changes in Equity |
for the Year Ended 31 December 2023 |
Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 January 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | ( |
) |
Balance at 31 December 2022 | ( |
) |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 December 2023 |
Adamantean Consulting Limited (Registered number: 11147340) |
Notes to the Consolidated Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Adamantean Consulting Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
Accounts are rounded to the nearest pound. |
The accounts represent the company as an individual entity. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates. |
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 if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
Cryptocurrency assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
IAS 38 allows intangible assets to be measured at cost or revaluation. Using the revaluation model, intangible assets can be carried at a revalued amount if there is an active market for them |
IFRS 13 defines an active market, and judgement should be applied to determine whether an active market exists for particular cryptocurrencies. As there is daily trading of Bitcoin, it is easy to demonstrate that such a market exists. A quoted market price in an active market provides the most reliable evidence of fair value and is used without adjustment to measure fair value whenever available. |
Tangible fixed assets |
Computer equipment | - |
Adamantean Consulting Limited (Registered number: 11147340) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
The average number of employees by undertakings that were proportionately consolidated during the year was 5 (2022 - 5 ) . |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets | 2,006 | 2,336 |
5. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
Adamantean Consulting Limited (Registered number: 11147340) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | INTANGIBLE FIXED ASSETS |
Group |
Cryptocurren |
£ |
COST OR VALUATION |
At 1 January 2023 | 4,217 |
Revaluations | 5,996 |
At 31 December 2023 | 10,213 |
NET BOOK VALUE |
At 31 December 2023 | 10,213 |
At 31 December 2022 | 4,217 |
Cost or valuation at 31 December 2023 is represented by: |
Cryptocurren |
£ |
Valuation in 2021 | 10,546 |
Valuation in 2022 | (6,329 | ) |
Valuation in 2023 | 5,996 |
10,213 |
If the following historic cost had not been revalued it would have been including at the following historical cost: |
31.12.21 |
£ |
Cost | 10,000 |
Cryptocurrencies was valued on an open market basis on 31 December 2023. |
Company |
Cryptocurren |
£ |
COST OR VALUATION |
At 1 January 2023 |
Revaluations |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Adamantean Consulting Limited (Registered number: 11147340) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | INTANGIBLE FIXED ASSETS - continued |
Company |
Cost or valuation at 31 December 2023 is represented by: |
Cryptocurren |
£ |
Valuation in 2021 | 10,546 |
Valuation in 2022 | (6,329 | ) |
Valuation in 2023 | 5,996 |
10,213 |
If the following historic cost had not been revalued it would have been including at the following historical cost: |
31.12.21 |
£ |
Cost | 10,000 |
Cryptocurrencies was valued on an open market basis on 31 December 2023. |
7. | TANGIBLE FIXED ASSETS |
Group |
Computer |
equipment |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 | 11,003 |
DEPRECIATION |
At 1 January 2023 | 8,085 |
Charge for year | 2,006 |
At 31 December 2023 | 10,091 |
NET BOOK VALUE |
At 31 December 2023 | 912 |
At 31 December 2022 | 2,918 |
Adamantean Consulting Limited (Registered number: 11147340) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | TANGIBLE FIXED ASSETS - continued |
Company |
Computer |
equipment |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
8. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.12.23 | 31.12.22 | 31.12.23 | 31.12.22 |
£ | £ | £ | £ |
Trade debtors | 257,668 | 161,471 |
Amounts owed by group undertakings | - | 8,704 |
Other debtors | 12,947 | 20,935 |
270,615 | 191,110 |
Adamantean Consulting Limited (Registered number: 11147340) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.12.23 | 31.12.22 | 31.12.23 | 31.12.22 |
£ | £ | £ | £ |
Bank loans and overdrafts | 6,626 | 3,313 |
Trade creditors | 28,167 | 22,609 |
Amounts owed to group undertakings | - | 8,704 |
Taxation and social security | 46,310 | 70,073 | ( |
) | ( |
) |
Other creditors | 120,470 | 21,682 |
201,573 | 126,381 |
11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans | 40,054 | 46,688 |
Other creditors | 92,041 | - |
132,095 | 46,688 |
Amounts falling due in more than five years: |
Group |
31.12.23 | 31.12.22 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 13,551 | 20,185 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary 'A' | £1 | 10,100 | 10,100 |
Ordinary 'B' | £1 | 4,300 | 4,300 |
Ordinary 'C' | £1 | 1,000 | 1,000 |
Ordinary 'D' | £1 | 4,300 | 4,300 |
300 | Ordinary 'E' | £1 | 300 | 300 |
20,000 | 20,000 |
Adamantean Consulting Limited (Registered number: 11147340) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
13. | RESERVES |
Group |
Revaluation |
reserve |
£ |
At 1 January 2023 | (5,783 | ) |
Cryptocurrency Revaluation | 5,996 |
At 31 December 2023 | 213 |
Company |
Revaluation |
reserve |
£ |
At 1 January 2023 | ( |
) |
Cryptocurrency Revaluation | 5,996 |
At 31 December 2023 |
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022: |
31.12.23 | 31.12.22 |
£ | £ |
G J Wilding |
Balance outstanding at start of year | 4,233 | 2,564 |
Amounts advanced | - | 4,545 |
Amounts repaid | (4,233 | ) | (2,876 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | 4,233 |
S F Arlow |
Balance outstanding at start of year | 3,687 | (936 | ) |
Amounts advanced | - | 4,935 |
Amounts repaid | (3,687 | ) | (312 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | 3,687 |
D G Payne |
Balance outstanding at start of year | 3,687 | (936 | ) |
Amounts advanced | - | 4,935 |
Amounts repaid | (3,687 | ) | (312 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | 3,687 |
Adamantean Consulting Limited (Registered number: 11147340) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 December 2023 |
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
At the year end, the directors owed the company £nil (2022: £11,607). |