Silverfin false false 30/06/2024 01/07/2023 30/06/2024 A Headington 05/08/2021 A Othold 05/08/2021 20 January 2025 The principal activity of the Company during the financial year was that of investment property. 13549291 2024-06-30 13549291 bus:Director1 2024-06-30 13549291 bus:Director2 2024-06-30 13549291 2023-06-30 13549291 core:CurrentFinancialInstruments 2024-06-30 13549291 core:CurrentFinancialInstruments 2023-06-30 13549291 core:Non-currentFinancialInstruments 2024-06-30 13549291 core:Non-currentFinancialInstruments 2023-06-30 13549291 core:ShareCapital 2024-06-30 13549291 core:ShareCapital 2023-06-30 13549291 core:RetainedEarningsAccumulatedLosses 2024-06-30 13549291 core:RetainedEarningsAccumulatedLosses 2023-06-30 13549291 core:FurnitureFittings 2023-06-30 13549291 core:FurnitureFittings 2024-06-30 13549291 2023-07-01 2024-06-30 13549291 bus:FilletedAccounts 2023-07-01 2024-06-30 13549291 bus:SmallEntities 2023-07-01 2024-06-30 13549291 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 13549291 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13549291 bus:Director1 2023-07-01 2024-06-30 13549291 bus:Director2 2023-07-01 2024-06-30 13549291 core:FurnitureFittings core:TopRangeValue 2023-07-01 2024-06-30 13549291 2022-07-01 2023-06-30 13549291 core:FurnitureFittings 2023-07-01 2024-06-30 13549291 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: 13549291 (England and Wales)

ADIDO PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

ADIDO PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

ADIDO PROPERTY LIMITED

BALANCE SHEET

As at 30 June 2024
ADIDO PROPERTY LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,338 4,980
Investment property 4 376,445 376,445
379,783 381,425
Current assets
Debtors 5 1,215 1,081
Cash at bank and in hand 2,997 30,307
4,212 31,388
Creditors: amounts falling due within one year 6 ( 269,210) ( 243,237)
Net current liabilities (264,998) (211,849)
Total assets less current liabilities 114,785 169,576
Creditors: amounts falling due after more than one year 7 ( 110,851) ( 168,367)
Net assets 3,934 1,209
Capital and reserves
Called-up share capital 100 100
Profit and loss account 3,834 1,109
Total shareholder's funds 3,934 1,209

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Adido Property Limited (registered number: 13549291) were approved and authorised for issue by the Board of Directors on 20 January 2025. They were signed on its behalf by:

A Headington
Director
ADIDO PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
ADIDO PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Adido Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Cospace7 Carbery Lane, Bournemouth, BH6 3QG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 July 2023 6,565 6,565
At 30 June 2024 6,565 6,565
Accumulated depreciation
At 01 July 2023 1,585 1,585
Charge for the financial year 1,642 1,642
At 30 June 2024 3,227 3,227
Net book value
At 30 June 2024 3,338 3,338
At 30 June 2023 4,980 4,980

4. Investment property

Investment property
£
Valuation
As at 01 July 2023 376,445
As at 30 June 2024 376,445

5. Debtors

2024 2023
£ £
Trade debtors 270 580
Other debtors 945 501
1,215 1,081

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 759 808
Amounts owed to Group undertakings 264,440 239,874
Taxation and social security 116 0
Other creditors 3,895 2,555
269,210 243,237

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 110,851 168,367

The bank loan is secured on the freehold property of the company with a carrying value of £376,445 (2023: £376,445)

8. Ultimate controlling party

Parent Company:

Adido Hold Limited
7 Carbery Lane, Southbourne, Bournemouth, Dorset, BH6 3QG