IRIS Accounts Production v24.2.0.383 11192972 Board of Directors 1.3.23 29.2.24 29.2.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111929722023-02-28111929722024-02-29111929722023-03-012024-02-29111929722022-02-28111929722022-03-012023-02-28111929722023-02-2811192972ns15:EnglandWales2023-03-012024-02-2911192972ns14:PoundSterling2023-03-012024-02-2911192972ns10:Director12023-03-012024-02-2911192972ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2911192972ns10:SmallEntities2023-03-012024-02-2911192972ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2911192972ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2911192972ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2911192972ns10:FullAccounts2023-03-012024-02-2911192972ns10:OrdinaryShareClass12023-03-012024-02-2911192972ns10:Director22023-03-012024-02-2911192972ns10:RegisteredOffice2023-03-012024-02-2911192972ns5:CurrentFinancialInstruments2024-02-2911192972ns5:CurrentFinancialInstruments2023-02-2811192972ns5:ShareCapital2024-02-2911192972ns5:ShareCapital2023-02-2811192972ns5:RetainedEarningsAccumulatedLosses2024-02-2911192972ns5:RetainedEarningsAccumulatedLosses2023-02-2811192972ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2911192972ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2811192972ns10:OrdinaryShareClass12024-02-29
REGISTERED NUMBER: 11192972 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ADMIRAL ASSET MANAGEMENT LTD

ADMIRAL ASSET MANAGEMENT LTD (REGISTERED NUMBER: 11192972)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ADMIRAL ASSET MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: M Doyle
J Doyle





REGISTERED OFFICE: Unit 4
Maple Leaf Industrial Estate
Bloxwich Lane
Walsall
West Midlands
WS2 8TF





REGISTERED NUMBER: 11192972 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

ADMIRAL ASSET MANAGEMENT LTD (REGISTERED NUMBER: 11192972)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,916,619 2,132,555

CURRENT ASSETS
Debtors 5 13,090 4,948
Cash at bank and in hand 31,881 154,591
44,971 159,539
CREDITORS
Amounts falling due within one year 6 2,652,990 2,044,061
NET CURRENT LIABILITIES (2,608,019 ) (1,884,522 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

308,600

248,033

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 308,598 248,031
SHAREHOLDERS' FUNDS 308,600 248,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





J Doyle - Director


ADMIRAL ASSET MANAGEMENT LTD (REGISTERED NUMBER: 11192972)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Admiral Asset Management Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The company has taken advantage of the transitional exemptions in FRS102 35.10 (d) to use a previous GAAP revaluation as its deemed cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

ADMIRAL ASSET MANAGEMENT LTD (REGISTERED NUMBER: 11192972)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 2,132,555
Additions 784,064
At 29 February 2024 2,916,619
NET BOOK VALUE
At 29 February 2024 2,916,619
At 28 February 2023 2,132,555

The company has taken advantage of the transitional exemptions in FRS102 35.10 (d) to use a previous GAAP revaluation as its deemed cost.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 38 -
Amounts owed by group undertakings 7,561 2,061
Other debtors 5,491 2,887
13,090 4,948

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 2,632,047 2,017,373
Taxation and social security 19,743 25,488
Other creditors 1,200 1,200
2,652,990 2,044,061

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2