Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr G R Blight 23/07/2020 Mr S Demuth 23/07/2020 Mr M A Fisher 23/07/2020 Mr P Schlussas 23/07/2020 Mr P C Stuart-Harris 23/07/2020 Mr S Zawada 23/07/2020 18 September 2024 The principal activity of the Company during the financial year was the rental of commercial property. 12763406 2024-04-30 12763406 bus:Director1 2024-04-30 12763406 bus:Director2 2024-04-30 12763406 bus:Director3 2024-04-30 12763406 bus:Director4 2024-04-30 12763406 bus:Director5 2024-04-30 12763406 bus:Director6 2024-04-30 12763406 2023-04-30 12763406 core:CurrentFinancialInstruments 2024-04-30 12763406 core:CurrentFinancialInstruments 2023-04-30 12763406 core:Non-currentFinancialInstruments 2024-04-30 12763406 core:Non-currentFinancialInstruments 2023-04-30 12763406 core:ShareCapital 2024-04-30 12763406 core:ShareCapital 2023-04-30 12763406 core:RetainedEarningsAccumulatedLosses 2024-04-30 12763406 core:RetainedEarningsAccumulatedLosses 2023-04-30 12763406 bus:OrdinaryShareClass1 2024-04-30 12763406 2023-05-01 2024-04-30 12763406 bus:FilletedAccounts 2023-05-01 2024-04-30 12763406 bus:SmallEntities 2023-05-01 2024-04-30 12763406 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 12763406 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12763406 bus:Director1 2023-05-01 2024-04-30 12763406 bus:Director2 2023-05-01 2024-04-30 12763406 bus:Director3 2023-05-01 2024-04-30 12763406 bus:Director4 2023-05-01 2024-04-30 12763406 bus:Director5 2023-05-01 2024-04-30 12763406 bus:Director6 2023-05-01 2024-04-30 12763406 2022-05-01 2023-04-30 12763406 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 12763406 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 12763406 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12763406 (England and Wales)

ADORN DEVELOPMENT LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ADORN DEVELOPMENT LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ADORN DEVELOPMENT LIMITED

BALANCE SHEET

As at 30 April 2024
ADORN DEVELOPMENT LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 384,984 384,984
384,984 384,984
Current assets
Debtors 4 17,372 7,571
Cash at bank and in hand 43,996 27,748
61,368 35,319
Creditors: amounts falling due within one year 5 ( 38,402) ( 28,931)
Net current assets 22,966 6,388
Total assets less current liabilities 407,950 391,372
Creditors: amounts falling due after more than one year 6 ( 355,340) ( 362,877)
Net assets 52,610 28,495
Capital and reserves
Called-up share capital 7 6 6
Profit and loss account 52,604 28,489
Total shareholders' funds 52,610 28,495

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

Directors' responsibilities:

The financial statements of Adorn Development Limited (registered number: 12763406) were approved and authorised for issue by the Board of Directors on 18 September 2024. They were signed on its behalf by:

Mr P Schlussas
Director
ADORN DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ADORN DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
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

Adorn Development 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 Second Floor Lyster Court, The Millfields, Plymouth, PL1 3JB, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred.

Revenue from rentals is recognised as the service is delivered.

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.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 May 2023 384,984
As at 30 April 2024 384,984

4. Debtors

2024 2023
£ £
Trade debtors 14,821 0
Other debtors 2,551 7,571
17,372 7,571

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,736 13,507
Trade creditors 13,461 0
Taxation and social security 9,197 10,592
Other creditors 5,008 4,832
38,402 28,931

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

2024 2023
£ £
Bank loans 223,346 230,883
Other creditors 131,994 131,994
355,340 362,877

The bank loans are secured over the property owned by the company.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
6 Ordinary shares shares of £ 1.00 each 6 6