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REGISTERED NUMBER: 13506066 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Adriver Limited

Adriver Limited (Registered number: 13506066)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Adriver Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: D Brown





SECRETARY: Pramex International Ltd





REGISTERED OFFICE: 11 Old Jewry
London
EC2R 8DU





REGISTERED NUMBER: 13506066 (England and Wales)





AUDITORS: Shahmoon & Co
6.12 Central House 1 Ballards Lane
London
N3 1LQ

Adriver Limited (Registered number: 13506066)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,681 27,869

CURRENT ASSETS
Debtors 5 191,528 10,309
Cash at bank 40,137 46,260
231,665 56,569
CREDITORS
Amounts falling due within one year 6 520,405 804,906
NET CURRENT LIABILITIES (288,740 ) (748,337 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(262,059

)

(720,468

)

CREDITORS
Amounts falling due after more than
one year

7

900,922

-
NET LIABILITIES (1,162,981 ) (720,468 )

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings (1,163,981 ) (721,468 )
SHAREHOLDERS' FUNDS (1,162,981 ) (720,468 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2024 and were signed by:





D Brown - Director


Adriver Limited (Registered number: 13506066)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Adriver Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

All amounts are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The turnover represents amounts receivable, under contracts for services, net of Value Added Tax. Turnover is recognised to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

- Office Equipment - 33% on cost
- Fixtures and fittings - 33% on cost

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Adriver Limited (Registered number: 13506066)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Basic financial assets
Basic financial assets, which include debtors, loans from fellow group companies, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, accruals and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Going concern
Since incorporation the company made losses and has had a net deficit. However, the company is expected to be profitable in the future.

The Director considers that the Company has adequate resources to continue in operational existence for the foreseeable future with guaranteed financial support from the parent company.

Based on the above, the director believes that the financial statements can be prepared on a going concern basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Adriver Limited (Registered number: 13506066)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 27,329 8,733 36,062
Additions 10,819 456 11,275
At 31 December 2023 38,148 9,189 47,337
DEPRECIATION
At 1 January 2023 6,487 1,706 8,193
Charge for year 9,508 2,955 12,463
At 31 December 2023 15,995 4,661 20,656
NET BOOK VALUE
At 31 December 2023 22,153 4,528 26,681
At 31 December 2022 20,842 7,027 27,869

Adriver Limited (Registered number: 13506066)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 162,688 3,051
Directors' current accounts 30 30
Accrued income and prepayments 28,810 7,228
191,528 10,309

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 109,322 5,184
Amounts owed to group undertakings - 775,224
VAT 4,492 6,915
Other creditors 17,084 1,268
Accruals 389,507 16,315
520,405 804,906

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group
undertakings

900,922

-

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


In forming our opinion on the financial statements which is not modified, we draw your attention to the director's view and consideration on the going concern basis of preparation as disclosed in note 2 page 10 of the financial statements.

In the director's opinion, the company will have enough cash inflow in the future to pay its liabilities therefore, the company can prepare the accounts on a going concern basis.

Ran Shahmoon (Senior Statutory Auditor)
for and on behalf of Shahmoon & Co

Adriver Limited (Registered number: 13506066)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate controlling parent company is Adriver Corporation SAS, a company incorporated in France, whose registered address is 9 Rue Louis-Forest, Louvecienness, France, 78430.