Registered number
11816560
Adderstone Finance Limited
(formerly Adderstone Capital Limited)
Filleted Accounts
31 March 2024
Adderstone Finance Limited
Registered number: 11816560
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 2,185,574 2,052,756
Cash at bank and in hand 2,609 2,705
2,188,183 2,055,461
Creditors: amounts falling due within one year 4 (2,106,751) (1,933,305)
Net current assets 81,432 122,156
Net assets 81,432 122,156
Capital and reserves
Called up share capital 1 1
Profit and loss account 81,431 122,155
Shareholder's funds 81,432 122,156
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Baggett Professor, BSc (Hons), PhD, MRICS, FRGS
Director
Approved by the board on 16 September 2024
Adderstone Finance Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes interest earned from the provision of services carried out in relation to the principal activity of the company.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2024 2023
£ £
Amounts owed by related parties 2,185,573 2,052,755
Other debtors 1 1
2,185,574 2,052,756
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 36,732 25,305
Other creditors 2,070,019 1,908,000
2,106,751 1,933,305
Other creditors includes a shareholder loan of £2,068,000 (2023 - £1,908,000). The loan is interest free, unsecured and repayable on demand.
5 Related party transactions
Included in debtors is a loan to Adderstone 1993 Limited, a company under the control of I R Baggett. The balance at the year end comprises capital of £2,085,000 (2023 - £1,925,000) and interest of £100,573 (2023 - £127,755).

The loan accrues interest at 2.25% per annum, is unsecured, and there are no fixed repayment terms.
6 Controlling party
The company is controlled by The Pensioneer Trustee Company (Guernsey) Limited as Trustee of the Family Prosperity Pension - I Baggett.
7 Other information
Adderstone Finance Limited is a private company limited by shares and incorporated in England. Its registered office is:
Nelson House, The Fleming
Burdon Terrace
Jesmond
Newcastly upon Tyne
NE2 3AE
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