Company No:
Contents
DIRECTORS | N J Greenwood |
A D Hudd |
REGISTERED OFFICE | Third Floor |
20 Old Bailey | |
London | |
EC4M 7AN | |
England | |
United Kingdom |
COMPANY NUMBER | 11111473 (England and Wales) |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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827,251 | 1,127,944 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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399,047 | 684,084 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 392,387 | 441,053 | ||
Total assets less current liabilities | 1,219,638 | 1,568,997 | ||
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 shareholders' funds |
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Directors' responsibilities:
The financial statements of Adenloch Limited (registered number:
A D Hudd
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.
Adenloch 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 Third Floor, 20 Old Bailey, London, EC4M 7AN, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The directors intend to place the company into liquidation as soon as possible. As required by UK accounting standards, the financial statements have been prepared on a basis other than that of a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis. The financial statements do not include any provision for the future costs of winding up the company except to the extent that such costs were committed to as at the balance sheet date.
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.
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, expect that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current 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.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Fixtures and fittings |
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Investments in non-subsidiary equity shares, which are publicly traded or where the fair value can be measured reliably, are initially measured at fair value, with changes in fair value recognised in the profit and loss account. Investments in subsidiary undertakings are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method.
Dividends are accounted for on an ex-dividend accruals basis.
Interim dividends to the company's shareholders are recognised once they are paid. Final dividends to the company's shareholders are recognised in the reporting period in which the dividends are approved by the shareholders.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Fixtures and fittings | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2023 |
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At 31 December 2023 |
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Accumulated depreciation | |||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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At 31 December 2022 |
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2023 | 2022 | ||
£ | £ | ||
Subsidiary undertakings |
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Other investments and loans |
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827,251 | 1,127,489 |
Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 January 2023 |
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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The company owns 100% of the founder shares in the Haven Cove Absolute Return Fund, which is an investment fund domiciled in the Cayman Islands. The Haven Cove Absolute Return Fund’s registered office address is c/o Walkers Corporate Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9008, Cayman Islands.
Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 January 2023 |
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Movement in fair value | (
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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Other investments represent shares in an open-ended investment fund. These shares are reported at the net asset value of the fund. The net asset value is determined by the fund manager by applying fair value principles to the underlying investments.
2023 | 2022 | ||
£ | £ | ||
Amounts owed by related parties |
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Corporation tax |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to related parties |
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Taxation and social security |
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Other creditors |
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N Greenwood
2023 | 2022 | ||
£ | £ | ||
At 1 January 2023 | (33) | (33) | |
Advances to director | 0 | 0 | |
Repayments by director | 0 | 0 | |
Interest applied | 0 | 0 | |
Release of amounts due to director | 33 | 0 | |
At 31 December 2023 | 0 | (33) |
The above loan is unsecured, interest bearing, and repayable on demand. The loan was released on 31 December 2023.
A Hudd
2023 | 2022 | ||
£ | £ | ||
At 1 January 2023 | (144) | (144) | |
Advances to director | 0 | 0 | |
Repayments by director | 0 | 0 | |
Interest applied | 0 | 0 | |
Release of amounts due to director | 144 | 0 | |
At 31 December 2023 | 0 | (144) |
The above loan is unsecured, interest bearing, and repayable on demand. The loan was released on 31 December 2023.
During the year, the company paid expenses totalling £531 (2022 - £533) on behalf of Teakbridge Capital Limited, which is a company under common control. At the year-end, the amount due from Teakbridge Capital Limited in respect of these expenses was £1,974 (2022 - £1,443).
At the year-end, the amount due from Teakbridge Capital Limited in respect of sterling denominated loans was £100,000 (2022 - £100,000). At the year-end, the amount due from Teakbridge Capital Limited in respect of euro denominated loans was £285,528 (2022 - £527,291). These loans are interest free and repayable in full upon 5 working days prior written notice and in any event, no later than 31 December 2023.