Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseResidential property rental and consultancy12truetruefalse 07274673 2024-01-01 2024-12-31 07274673 2023-01-01 2023-12-31 07274673 2024-12-31 07274673 2023-12-31 07274673 2023-01-01 07274673 5 2024-01-01 2024-12-31 07274673 5 2023-01-01 2023-12-31 07274673 d:Director1 2024-01-01 2024-12-31 07274673 e:FurnitureFittings 2024-01-01 2024-12-31 07274673 e:FurnitureFittings 2024-12-31 07274673 e:FurnitureFittings 2023-12-31 07274673 e:FurnitureFittings e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07274673 e:OfficeEquipment 2024-01-01 2024-12-31 07274673 e:OfficeEquipment 2024-12-31 07274673 e:OfficeEquipment 2023-12-31 07274673 e:OfficeEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07274673 e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07274673 e:FreeholdInvestmentProperty 2024-12-31 07274673 e:FreeholdInvestmentProperty 2023-12-31 07274673 e:FreeholdInvestmentProperty 2 2024-01-01 2024-12-31 07274673 e:CurrentFinancialInstruments 2024-12-31 07274673 e:CurrentFinancialInstruments 2023-12-31 07274673 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 07274673 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 07274673 e:ShareCapital 2024-01-01 2024-12-31 07274673 e:ShareCapital 2024-12-31 07274673 e:ShareCapital 2023-01-01 2023-12-31 07274673 e:ShareCapital 2023-12-31 07274673 e:ShareCapital 2023-01-01 07274673 e:RevaluationReserve 2024-01-01 2024-12-31 07274673 e:RevaluationReserve 2024-12-31 07274673 e:RevaluationReserve 5 2024-01-01 2024-12-31 07274673 e:RevaluationReserve 2023-01-01 2023-12-31 07274673 e:RevaluationReserve 2023-12-31 07274673 e:RevaluationReserve 2023-01-01 07274673 e:RevaluationReserve 5 2023-01-01 2023-12-31 07274673 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 07274673 e:RetainedEarningsAccumulatedLosses 2024-12-31 07274673 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07274673 e:RetainedEarningsAccumulatedLosses 2023-12-31 07274673 e:RetainedEarningsAccumulatedLosses 2023-01-01 07274673 d:FRS102 2024-01-01 2024-12-31 07274673 d:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07274673 d:FullAccounts 2024-01-01 2024-12-31 07274673 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07274673 2 2024-01-01 2024-12-31 07274673 5 2024-01-01 2024-12-31 07274673 6 2024-01-01 2024-12-31 07274673 e:AcceleratedTaxDepreciationDeferredTax 2024-12-31 07274673 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 07274673 f:PoundSterling 2024-01-01 2024-12-31 07274673 e:RetainedEarningsAccumulatedLosses 5 2024-01-01 2024-12-31 07274673 e:RetainedEarningsAccumulatedLosses 5 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 07274673










AMADORA ASSET MANAGEMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
AMADORA ASSET MANAGEMENT LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AMADORA ASSET MANAGEMENT LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Amadora Asset Management Limited for the year ended 31 December 2024 which comprise  the Statement of financial position, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Amadora Asset Management Limited in accordance with the terms of our engagement letter dated 1st December 2021Our work has been undertaken solely to prepare for your approval the financial statements of Amadora Asset Management Limited and state those matters that we have agreed to state to the director of Amadora Asset Management Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amadora Asset Management Limited and its director for our work or for this report. 

It is your duty to ensure that Amadora Asset Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Amadora Asset Management Limited. You consider that Amadora Asset Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Amadora Asset Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



McColes & Co (Herts) Ltd
 
Chartered Accountants
  
First Floor
28 Whitehorse Street
Baldock
Hertfordshire
SG7 6QQ
27 February 2025
Page 1

 
AMADORA ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 07274673

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
560
962

Investments
 5 
13,057
8,921

Investment property
 6 
665,880
650,509

  
679,497
660,392

Current assets
  

Debtors: amounts falling due within one year
 7 
138,636
138,586

Cash at bank and in hand
  
286
24,662

  
138,922
163,248

Creditors: amounts falling due within one year
 8 
(370,118)
(403,245)

Net current liabilities
  
 
 
(231,196)
 
 
(239,997)

Total assets less current liabilities
  
448,301
420,395

Provisions for liabilities
  

Deferred tax
 9 
(45,321)
(42,477)

  
 
 
(45,321)
 
 
(42,477)

Net assets
  
402,980
377,918


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Revaluation reserve
  
280,109
260,627

Profit and loss account
  
72,871
67,291

  
402,980
377,918


Page 2

 
AMADORA ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 07274673
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 27 February 2025.




W Spencer
Director

The notes on pages 6 to 13 form part of these financial statements.

Page 3

 
AMADORA ASSET MANAGEMENT LIMITED
 

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


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2024
50,000
260,627
67,291
377,918


Comprehensive income for the year

Profit for the year

-
-
25,062
25,062

Deficit on revaluation of freehold property
-
-
(15,371)
(15,371)

Deficit on revaluation of other fixed assets
-
-
(4,111)
(4,111)


Other comprehensive income for the year
-
-
(19,482)
(19,482)


Total comprehensive income for the year
-
-
5,580
5,580


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
19,482
-
19,482


Total transactions with owners
-
19,482
-
19,482


At 31 December 2024
50,000
280,109
72,871
402,980


The notes on pages 6 to 13 form part of these financial statements.

Page 4

 
AMADORA ASSET MANAGEMENT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
50,000
282,391
57,275
389,666


Comprehensive income for the year

Loss for the year

-
-
(11,748)
(11,748)

Surplus on revaluation of freehold property
-
-
24,560
24,560

Deficit on revaluation of other fixed assets
-
-
(2,796)
(2,796)


Other comprehensive income for the year
-
-
21,764
21,764


Total comprehensive income for the year
-
-
10,016
10,016


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
(21,764)
-
(21,764)


Total transactions with owners
-
(21,764)
-
(21,764)


At 31 December 2023
50,000
260,627
67,291
377,918


The notes on pages 6 to 13 form part of these financial statements.

Page 5

 
AMADORA ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies

 
1.1

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 presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

 
1.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Interest income

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

Page 6

 
AMADORA ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)

 
1.4

Current and deferred taxation

The tax expense for the year comprises current 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting 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 reporting 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 reporting date.


 
1.5

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:

Fixtures & fittings
-
25%
straight line
Office equipment
-
33%
straight line

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 7

 
AMADORA ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)

 
1.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
1.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
1.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 8

 
AMADORA ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)

 
1.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


2.


General information

The Company is a private company, limited by shares and registered in England.
Its registered number is: 07274673
Its Registered Office is: 
Copford House
40 Royal Oak Lane
Pirton
Hitchin
Hertfordshire
SG5 3QT


3.


Employees

2024
2023
£
£

Wages and salaries
4,000
4,000

4,000
4,000


The average monthly number of employees, including directors, during the year was 1 (2023 - 2).

Page 9

 
AMADORA ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
6,693
2,275
8,968


Additions
-
107
107



At 31 December 2024

6,693
2,382
9,075



Depreciation


At 1 January 2024
6,693
1,313
8,006


Charge for the year on owned assets
-
509
509



At 31 December 2024

6,693
1,822
8,515



Net book value



At 31 December 2024
-
560
560



At 31 December 2023
-
962
962


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 January 2024
8,921


Additions
10,207


Disposals
(5,915)


Revaluations
(156)



At 31 December 2024
13,057




Page 10

 
AMADORA ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
650,509


Surplus on revaluation
15,371



At 31 December 2024
665,880

The 2024 valuations were made by Nationwide House Price Calculator, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
370,062
370,062

370,062
370,062

Page 11

 
AMADORA ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Amounts owed by joint ventures and associated undertakings
138,000
138,000

Prepayments and accrued income
636
586

138,636
138,586



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
2,771
2,258

Other taxation and social security
-
302

Other creditors
366,333
399,719

Accruals and deferred income
1,014
966

370,118
403,245



9.


Deferred taxation




2024


£






At beginning of year
(42,477)


Charged to profit or loss
(2,844)



At end of year
(45,321)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(45,321)
(42,477)

(45,321)
(42,477)

Page 12

 
AMADORA ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Related party transactions

The amount due to the director at the reporting date is £365,102 (2023: £398,790). The loan does not attract a rate of interest and is repayable on demand. 
Included in debtors is an amount owed by a connected company £138,000 (2023: £138,000).  The company is connected by virture of the Director and shareholder.

 
Page 13