REGISTERED NUMBER: |
Report of the directors and |
Unaudited financial statements for the year ended 30 June 2024 |
For |
Afinum Ltd |
REGISTERED NUMBER: |
Report of the directors and |
Unaudited financial statements for the year ended 30 June 2024 |
For |
Afinum Ltd |
Afinum Ltd (Registered number: 13436108) |
Contents of the financial statements |
for the year ended 30 June 2024 |
Page |
Company information | 1 |
Report of the directors | 2 |
Statement of comprehensive income | 4 |
Balance sheet | 5 |
Statement of changes in equity | 6 |
Notes to the financial statements | 7 |
Afinum Ltd |
Company information |
for the year ended 30 June 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
15a Harbour Road |
Inverness |
INVERNESS-SHIRE |
IV1 1SY |
Afinum Ltd (Registered number: 13436108) |
Report of the directors |
for the year ended 30 June 2024 |
The directors present their report with the financial statements of the company for the year ended 30 June 2024. |
Principal activity |
The principal activity of the company in the year under review was that of an investment holding company. |
Dividends |
2024 | 2023 |
£ | £ |
loss for financial year | (15,753 | ) | (15,584 | ) |
Amounts carried to reserves | (15,753 | ) | (15,584 | ) |
The directors do not recommend the payment of a dividend. |
Directors |
The directors who served during the year and to date are: |
Audrey Ramirez |
Antonio Mazzotta |
Ian Petts (resigned 21 July 2023) |
Secretary |
The secretary who served during the year and to date is: |
Vistra Cosec Limited |
Statement of directors' responsibilities |
The directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
• select suitable accounting policies and then apply them consistently; |
• make judgements and estimates that are reasonable and prudent; |
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
On behalf of the board: |
Afinum Ltd (Registered number: 13436108) |
Report of the directors |
for the year ended 30 June 2024 |
Afinum Ltd (Registered number: 13436108) |
Statement of comprehensive income |
for the year ended 30 June 2024 |
2024 | 2023 |
£ | £ |
Turnover |
Operational expenses | ( |
) | ( |
) |
Operating loss | ( |
) | ( |
) |
Interest receivable and similar income |
Loss before taxation | ( |
) | ( |
) |
Tax on loss |
Loss for the financial year | ( |
) | ( |
) |
Afinum Ltd (Registered number: 13436108) |
Balance sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
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 were approved by the Board of Directors and authorised for issue on |
Afinum Ltd (Registered number: 13436108) |
Statement of changes in equity |
for the year ended 30 June 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2022 | ( |
) |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 June 2023 | ( |
) |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 June 2024 | ( |
) |
Afinum Ltd (Registered number: 13436108) |
Notes to the financial statements |
for the year ended 30 June 2024 |
1. | Statutory information |
The principal activity of Afinum Ltd. is that of an investment holding company. |
The company is a private company limited by shares and incorporated in the UK. Its registered office is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL, United Kingdom. The company's registered number is 13436108. |
The financial statements are presented in Sterling, which is the functional currency of the company. |
The company has no employees. |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparation |
These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities measured at fair value through the statement of comprehensive income. |
Going concern |
The company is dependent on the continued financial support of the lenders in order to enable it to continue operating and to meet its liabilities as they fall due. The lenders have agreed to continue to provide financial support to the company and accordingly the directors have prepared the financial statements under the going concern concept. |
Expenses |
Expenses are recognised on an accruals basis. |
Unquoted investments |
Unquoted investments are stated at cost. Any surplus or deficit arising on the disposal of investments is transferred to the statement of comprehensive income. |
Foreign currency |
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 foreign exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income. |
Afinum Ltd (Registered number: 13436108) |
Notes to the financial statements - continued |
for the year ended 30 June 2024 |
4. | Employees and directors |
The average number of employees during the year was NIL (2023 - NIL). |
5. | Fixed asset investments |
2024 | 2023 |
£ | £ |
Brought forward | 97,461 | - |
Additions | - | 97,461 |
97,461 | 97,461 |
Analysed as: |
Benoit Afrique Audition SARL - 90 shares of €55,000 | 46,896 | 46,896 |
Kirlin S.A.R.L 20 shares €58,000 | 50,565 | 50,565 |
97,461 | 97,461 |
Benoit Afrique Audition SARL |
On 26 November 2021 the Company subscribed for 30 shares in Benoit Afrique Audition SARL, representing 5% of the share capital. |
On 13 December 2021 the company subscribed for a further 60 shares in Benoit Afrique Audition SARL, representing 10% of the share capital, bringing the total shareholding to 15%. |
Kirlin S.A.R.L |
On 21 October 2022 the company subscribed for 20 shares in Kirlin representing 20% of the share capital. Kirlin is incorporated in France. |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Loan receivable - Kirlin S.A.RL. | 25,420 | - |
Accrued interest receivable | 237 | - |
Prepayments | 2,638 | 3,747 |
28,295 | 3,747 |
Afinum Ltd (Registered number: 13436108) |
Notes to the financial statements - continued |
for the year ended 30 June 2024 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors | - | 2,461 |
Loans payable shareholder loans: |
Shankling Holdings Ltd | 19,912 | 7,332 |
C.L. Nominees (Monaco) | 19,872 | 7,332 |
C.L. SAM Nominees Ltd | 19,912 | 7,332 |
Accruals | 7,379 | 3,830 |
67,075 | 28,287 |
The shareholder loan payable are unsecured, interest free and repayable on demand. |
8. | Share capital |
2024 | 2023 |
£ | £ |
Ordinary shares of £1 each |
Allotted, called up and fully paid |
At 1 July and at 30 June - Issued 120,000 shares | 103,379 | 103,379 |