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Registered number: 03487227









ADVIQO UK LIMITED

DIRECTORS REPORT AND FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
ADVIQO UK LIMITED
REGISTERED NUMBER: 03487227

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,596
883

  
2,596
883

Current assets
  

Debtors: amounts falling due within one year
 6 
525,811
94,608

Cash at bank and in hand
  
256,511
741,427

  
782,322
836,035

Creditors: amounts falling due within one year
 7 
(643,856)
(832,527)

Net current assets
  
 
 
138,466
 
 
3,508

Total assets less current liabilities
  
141,062
4,391

Provisions for liabilities
  

Deferred tax
 8 
(377)
-

  
 
 
(377)
 
 
-

Net assets
  
140,685
4,391


Capital and reserves
  

Called up share capital 
 9 
164
164

Profit and loss account
  
140,521
4,227

  
140,685
4,391


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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 January 2025.




N J Grumbach
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 1

 
ADVIQO UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
164
20,081
20,245


Comprehensive income for the year

Profit for the year
-
418,542
418,542


Contributions by and distributions to owners

Dividends: Equity capital
-
(434,396)
(434,396)



At 1 January 2024
164
4,227
4,391


Comprehensive income for the year

Profit for the year
-
336,294
336,294


Contributions by and distributions to owners

Dividends: Equity capital
-
(200,000)
(200,000)


At 31 December 2024
164
140,521
140,685


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ADVIQO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Adviqo UK Limited is a private company limited by shares, incorporated in England and Wales. The registered number of the company is 03487227. The address of the registered office of the company is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, NR7 0HR. 
The principal activity of the company during the period was the delivery of interactive services and content via fixed line, mobile telephony and internet.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which the director considers to be appropriate. The Company continues to maintain strong financial performance and ends the year with positive net assets and net current assets. The Company also has a very strong cash balance.
In determining that the Company is a going concern, the director has prepared detailed profit and loss forecasts for a period of 12 months from the date of approval of these financial statements. The director consider that, taking into account all reasonably possible downsides, the Company will have sufficient funds to continue to meet its liabilities as they fall due.

Page 3

 
ADVIQO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Turnover is the aggregate amount of revenue derived from the provision of fixed line mobile telephony and internet services supplied to customers in the ordinary course of business. Revenue is recognised on delivery of the services based on the recorded date, time and duration of the service.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ADVIQO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises corporation and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
ADVIQO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

  
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements in conformity with FRS 102 requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.


4.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 11).

Page 6

 
ADVIQO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2024
3,289


Additions
3,178


Disposals
(790)



At 31 December 2024

5,677



Depreciation


At 1 January 2024
2,406


Charge for the year on owned assets
1,432


Disposals
(757)



At 31 December 2024

3,081



Net book value



At 31 December 2024
2,596



At 31 December 2023
883

Page 7

 
ADVIQO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
3,328
8,959

Amounts owed by group undertakings
416,153
-

Other debtors
2,097
37,824

Prepayments and accrued income
16,332
46,884

Corporation tax recoverable
87,901
-

Deferred taxation
-
941

525,811
94,608



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
67,592
59,097

Amounts owed to group undertakings
351,640
160,287

Corporation tax
-
97,178

Other taxation and social security
149,778
157,204

Other creditors
1,648
3,654

Accruals and deferred income
73,198
355,107

643,856
832,527



8.


Deferred taxation




2024


£






At beginning of year
941


Charged to profit or loss
(1,318)



At end of year
(377)

Page 8

 
ADVIQO UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
8.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(649)
16

Pension surplus
272
925

(377)
941


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,639,033 (2023 - 1,639,033) Ordinary shares of £0.0001- each
164
164



10.


Pension commitments

The pension cost charge represents contributions payable by the company to the fund and amounted to £7,633 (2023: £57,992). Contributions totalling £1,648 (2023: £4,384) were payable to the fund at the balance sheet date and are included in creditors.


11.


Transactions with directors

In August 2022, a loan was issued by the company to a director totalling £27,500. The loan was interest free (0%) and had no conditions attached. The loan was repaid in full on 26 April 2024. The balance at the year end was £nil (2023: £27,500).


12.


Controlling party

The immediate parent company of Adviqo UK Limited is Adviqo GmbH, a company incorporated in Germany. The registered office of Adviqo GmbH is Max-Dohrn-Str. 8-10, 10589 Berlin, Germany. 
The ultimate controlling party of Adviqo UK Limited is Graham Weaver by virtue of his 100% control and voting rights. 
The consolidated accounts are publically available at Ingenio Europe GmbH Max-Dohrn-Str. 8-10, 10589 Berlin, Germany.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 31 January 2025 by Stephan Schmitt ACA (Senior Statutory Auditor) on behalf of Price Bailey LLP.

Page 9

 
ADVIQO UK LIMITED
 

 Page 10