Company Registration No. 12471071 (England and Wales)
Adsum Technologies Ltd
Unaudited accounts
for the year ended 30 June 2024
Adsum Technologies Ltd
Unaudited accounts
Contents
Adsum Technologies Ltd
Company Information
for the year ended 30 June 2024
Directors
Justina Tartilaite
Frederick John Wingfield Digby
Hector Frederic Beckly Mason
Sun-Hee Park
Alan Vaksman
Company Number
12471071 (England and Wales)
Registered Office
1 Lyric Square
Adsum Works
London
W6 0NB
England
Accountants
ABR Chartered Accountants
37th Floor
Canada Square
London
E14 5AA
Adsum Technologies Ltd
Statement of financial position
as at 30 June 2024
Intangible assets
39,611
60,278
Tangible assets
12,975
21,000
Investments
580,001
680,000
Cash at bank and in hand
1,910,332
1,157,981
Creditors: amounts falling due within one year
(1,242,315)
(1,214,324)
Net current assets
1,150,672
1,827,437
Total assets less current liabilities
1,783,259
2,588,715
Creditors: amounts falling due after more than one year
(36,938)
(42,454)
Net assets
1,746,321
2,546,261
Called up share capital
3
3
Share premium
3,507,450
3,507,450
Profit and loss account
(1,761,132)
(961,192)
Shareholders' funds
1,746,321
2,546,261
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by
Frederick John Wingfield Digby
Director
Company Registration No. 12471071
Adsum Technologies Ltd
Notes to the Accounts
for the year ended 30 June 2024
Adsum Technologies Ltd is a private company, limited by shares, registered in England and Wales, registration number 12471071. The registered office is 1 Lyric Square, Adsum Works, London, W6 0NB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
Charge for the year
20,667
Adsum Technologies Ltd
Notes to the Accounts
for the year ended 30 June 2024
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
7,396
22,117
29,513
At 30 June 2024
7,396
22,117
29,513
At 1 July 2023
1,317
7,196
8,513
Charge for the year
1,479
6,546
8,025
At 30 June 2024
2,796
13,742
16,538
At 30 June 2024
4,600
8,375
12,975
At 30 June 2023
6,079
14,921
21,000
6
Investments
Other investments
Valuation at 1 July 2023
680,000
Valuation at 30 June 2024
580,001
These figures represent investment in subsidiaries at cost.
Amounts falling due within one year
Trade debtors
460,650
1,024,692
Amounts due from group undertakings etc.
-
838,776
Accrued income and prepayments
21,993
20,300
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
33,425
64,043
Amounts owed to group undertakings and other participating interests
298,361
-
Taxes and social security
(6,426)
(120,025)
Other creditors
3,594
4,401
Loans from directors
281,991
282,196
Deferred income
563,843
960,034
Adsum Technologies Ltd
Notes to the Accounts
for the year ended 30 June 2024
9
Creditors: amounts falling due after more than one year
2024
2023
10
Transactions with related parties
A1T1 Ltd is a fully owned subsidiary. As a result of intercompany transactions, the total amount owed to A1T1 Ltd is £363,787.34 (2023: £16,350).
Adsum Ltd is a fully owned subsidiary. As a result of intercompany transactions, the total amount owed from Adsum Ltd is £65,426.65.
11
Average number of employees
During the year the average number of employees was 15 (2023: 15).