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Adum Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 January 2024
Abacus 46 Ltd
Pegasus Court Second Floor, Suite 1
27 Herschel Street
Slough
SL1 1PA
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 11580035
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 40,833 40,833
Tangible Assets 5 223,973 146,348
264,806 187,181
CURRENT ASSETS
Stocks 14,580 12,320
Debtors - 183,720
Cash at bank and in hand 38,961 23,104
53,541 219,144
Creditors: Amounts Falling Due Within One Year (121,589 ) (310,365 )
NET CURRENT ASSETS (LIABILITIES) (68,048 ) (91,221 )
TOTAL ASSETS LESS CURRENT LIABILITIES 196,758 95,960
Creditors: Amounts Falling Due After More Than One Year (178,435 ) (47,981 )
NET ASSETS 18,323 47,979
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 18,223 47,879
SHAREHOLDERS' FUNDS 18,323 47,979
Page 1
Page 2
For the year ending 31 January 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 January 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Aadil Asghar
Director
Mr Usman Murtaza Tariq
Director
Mr Mohsin Mujtaba Tariq
Director
31/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Adum Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11580035 . The registered office is 30 Chiltern Crescent, Earley, Reading, RG6 1AN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 18% Reducing Balance
Fixtures & Fittings 18% Reducing Balance
Computer Equipment 18% Reducing Balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 35)
28 35
4. Intangible Assets
Total
£
Cost
As at 1 February 2023 40,833
As at 31 January 2024 40,833
Net Book Value
As at 31 January 2024 40,833
As at 1 February 2023 40,833
Page 3
Page 4
5. Tangible Assets
Total
£
Cost
As at 1 February 2023 242,269
Additions 126,789
As at 31 January 2024 369,058
Depreciation
As at 1 February 2023 95,921
Provided during the period 49,164
As at 31 January 2024 145,085
Net Book Value
As at 31 January 2024 223,973
As at 1 February 2023 146,348
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4