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Registration number: 15190132

Admicity Ltd

Unaudited Filleted Financial Statements

for the Period from 5 October 2023 to 31 October 2024

 

Admicity Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Admicity Ltd

Company Information

Director

M Smith

Registered office

The Tower
Ray Mead Road
Maidenhead
Berkshire
SL6 8NJ

Accountants

Sterling Grove Accountants Limited
Chartered Certified AccountantsFawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Admicity Ltd

(Registration number: 15190132)
Balance Sheet as at 31 October 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

234,284

Current assets

 

Debtors

5

28,999

Cash at bank and in hand

 

62,164

 

91,163

Creditors: Amounts falling due within one year

6

(383,914)

Net current liabilities

 

(292,751)

Net liabilities

 

(58,467)

Capital and reserves

 

Called up share capital

1

Retained earnings

(58,468)

Shareholders' deficit

 

(58,467)

For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 February 2025
 

.........................................
M Smith
Director

 

Admicity Ltd

Notes to the Unaudited Financial Statements for the Period from 5 October 2023 to 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Tower
Ray Mead Road
Maidenhead
Berkshire
SL6 8NJ
England

These financial statements were authorised for issue by the director on 10 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Internally Generated Software

5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Admicity Ltd

Notes to the Unaudited Financial Statements for the Period from 5 October 2023 to 31 October 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Admicity Ltd

Notes to the Unaudited Financial Statements for the Period from 5 October 2023 to 31 October 2024

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

Additions internally developed

234,284

234,284

At 31 October 2024

234,284

234,284

Amortisation

Carrying amount

At 31 October 2024

234,284

234,284

5

Debtors

Current

2024
£

Prepayments

18,102

Other debtors

10,897

 

28,999

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

7

119,000

Accruals and deferred income

 

750

Other creditors

 

264,164

 

383,914

7

Loans and borrowings

Current loans and borrowings

2024
£

Bank borrowings

119,000