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Company Registration No. 11275423 (England and Wales)
Adiki Ventures Ltd Unaudited Financial Statements for the year ended 31 March 2024
Adiki Ventures Ltd Unaudited Financial Statements Contents
Page
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Adiki Ventures Ltd Company Information for the year ended 31 March 2024
Director
Rosemund Pretoru
Company Number
11275423 (England and Wales)
Registered Office
216 Keedonwood Road Bromley BR1 4QP
Accountants
Alex & Co Chartered Certified Accountants 46AFairlawn Park Sydenham London SE26 5RY
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Adiki Ventures Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Adiki Ventures Ltd for the year ended 31 March 2024 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Adiki Ventures Ltd, as a body, in accordance with the terms of our engagement letter dated 26 December 2019. Our work has been undertaken solely to prepare for your approval the accounts of Adiki Ventures Ltd and state those matters that we have agreed to state to the Board of Directors of Adiki Ventures Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adiki Ventures Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Adiki Ventures Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Adiki Ventures Ltd. You consider that Adiki Ventures Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Adiki Ventures Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Alex & Co Chartered Certified Accountants Chartered Certified Accountants 46AFairlawn Park Sydenham London SE26 5RY 24 October 2024
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Adiki Ventures Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
249,040 
254,700 
Current assets
Cash at bank and in hand
6,753 
10,378 
Creditors: amounts falling due within one year
(400)
(3,551)
Net current assets
6,353 
6,827 
Total assets less current liabilities
255,393 
261,527 
Creditors: amounts falling due after more than one year
(284,682)
(284,674)
Net liabilities
(29,289)
(23,147)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(29,389)
(23,247)
Shareholders' funds
(29,289)
(23,147)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 October 2024 and were signed on its behalf by
Rosemund Pretoru Director Company Registration No. 11275423
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Adiki Ventures Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Adiki Ventures Ltd is a private company, limited by shares, registered in England and Wales, registration number 11275423. The registered office is 216 Keedonwood Road, Bromley, BR1 4QP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2%
Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year-end and that are expected to apply to the reversal of the timing difference. 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.
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Adiki Ventures Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 April 2023
283,000 
At 31 March 2024
283,000 
Depreciation
At 1 April 2023
28,300 
Charge for the year
5,660 
At 31 March 2024
33,960 
Net book value
At 31 March 2024
249,040 
At 31 March 2023
254,700 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
- 
1,241 
Other creditors
- 
1,910 
Accruals
400 
400 
400 
3,551 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
284,682 
284,674 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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