Company registration number 09511214 (England and Wales)
ADG FIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ADG FIC LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ADG FIC LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
2
1,808,853
1,808,853
Creditors: amounts falling due within one year
4
(1)
(1)
Net current liabilities
(1)
(1)
Total assets less current liabilities
1,808,852
1,808,852
Capital and reserves
Called up share capital
5
1,808,852
1,808,852
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered 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 12 July 2024 and are signed on its behalf by:
A D Greensmith
Director
Company Registration No. 09511214
ADG FIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

ADG FIC Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Oil Centre, Bury New Road, Heap Bridge, Bury, Lancashire, United Kingdom, BL9 7HY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

ADG FIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
2
Fixed asset investments
2024
2023
£
£
Investments
1,808,853
1,808,853
Movements in fixed asset investments
Investments in associates
£
Cost or valuation
At 1 April 2023 & 31 March 2024
1,808,853
Carrying amount
At 31 March 2024
1,808,853
At 31 March 2023
1,808,853
3
Associates

Details of the company's associates at 31 March 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
AMA FIC Limited
United Kingdom
Ordinary & Preference
33.00
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1
1
ADG FIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
2,450 Ordinary A Shares of £1 each
2,450
2,450
2,450 Ordinary B Shares of £1 each
2,450
2,450
5,000
5,000
Preference share capital
Issued and fully paid
901,926 Preference A Shares of £1 each
901,926
901,926
901,926 Preference B Shares of £1 each
901,926
901,926
1,803,852
1,803,852
Preference shares classified as equity
1,803,852
1,803,852
Total equity share capital
1,808,852
1,808,852

Each Ordinary share has full rights in the company with respect to voting, dividends and distributions.

 

Each Preference share has a right to receive dividends and is redeemable; both these entitlements, however, are at the company's discretion only by unanimous consent of all directors. Accordingly the Preference shares are classified as equity.

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