0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-13 Sage Accounts Production Advanced 2023 - FRS102_2023 573,000 573,000 573,000 xbrli:pure xbrli:shares iso4217:GBP 14657868 2023-02-13 2024-03-31 14657868 2024-03-31 14657868 2023-02-12 14657868 bus:Director1 2023-02-13 2024-03-31 14657868 core:WithinOneYear 2024-03-31 14657868 core:AfterOneYear 2024-03-31 14657868 core:ShareCapital 2024-03-31 14657868 core:RetainedEarningsAccumulatedLosses 2024-03-31 14657868 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 14657868 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 14657868 core:Non-currentFinancialInstruments 2024-03-31 14657868 bus:SmallEntities 2023-02-13 2024-03-31 14657868 bus:AuditExemptWithAccountantsReport 2023-02-13 2024-03-31 14657868 bus:SmallCompaniesRegimeForAccounts 2023-02-13 2024-03-31 14657868 bus:PrivateLimitedCompanyLtd 2023-02-13 2024-03-31 14657868 bus:FullAccounts 2023-02-13 2024-03-31
COMPANY REGISTRATION NUMBER: 14657868
ADGIE WEALTH SERVICES LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 13 FEBRUARY 2023 TO
31 March 2024
ADGIE WEALTH SERVICES LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
31 Mar 24
Note
£
£
Fixed Assets
Investments
4
573,000
Current Assets
Cash at bank and in hand
1,410
Creditors: amounts falling due within one year
5
271,027
-----------
Net Current Liabilities
269,617
-----------
Total Assets Less Current Liabilities
303,383
Creditors: amounts falling due after more than one year
6
346,500
-----------
Net Liabilities
( 43,117)
-----------
ADGIE WEALTH SERVICES LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
31 Mar 24
Note
£
£
Capital and Reserves
Called up share capital
100
Profit and loss account
( 43,217)
---------
Shareholders Deficit
( 43,117)
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 August 2024 , and are signed on behalf of the board by:
J D Adgie
Director
Company registration number: 14657868
ADGIE WEALTH SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 13 FEBRUARY 2023 TO 31 MARCH 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7b Market Place, Hornsea, HU18 1AN, United Kingdom.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Investments
Shares in group undertakings
£
Cost
At 13 February 2023
Additions
573,000
-----------
At 31 March 2024
573,000
-----------
Impairment
At 13 February 2023 and 31 March 2024
-----------
Carrying amount
At 31 March 2024
573,000
-----------
5. Creditors: amounts falling due within one year
31 Mar 24
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
130,177
Other creditors
140,850
-----------
271,027
-----------
Included in other creditors is £84,730 which is secured against the assets of the company.
6. Creditors: amounts falling due after more than one year
31 Mar 24
£
Other creditors
346,500
-----------
Included in other creditors is £346,500 which is secured against the assets of the company.