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REGISTERED NUMBER: 12198999 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 June 2024

for

Abdeva Limited

Abdeva Limited (Registered number: 12198999)






Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


Abdeva Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M N Abdullah
A A Abdullah
M Y A Abdulla
M A Abdullah
P G Evans





REGISTERED OFFICE: Unit 13 Babbage House
Northampton Science Park
Kings Park Road
Northampton
NN3 6LG





REGISTERED NUMBER: 12198999 (England and Wales)





AUDITORS: Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Abdeva Limited (Registered number: 12198999)

Group Strategic Report
for the Year Ended 30 June 2024

The directors present their strategic report of the company and the group for the year ended 30 June 2024.

The principal activity of the Group is that of a specialist healthcare provider.The group works with hard to place individuals with complex needs.

REVIEW OF BUSINESS
The turnover for the Group increased from £1,969,790 in 2023 to £2,961,180 in 2024, gross profit from £962,873 in 2023 to £1,726,811 in 2024, and net profit before tax from £202,495 in 2023 to £908,480 in 2024. The directors are pleased with the increase in the Group's results which arises from the Group's growth plans and investments made in prior years.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors consider that the Group and Company has potential risks and uncertainties similar to those faced by other companies in the sector which remains competitive.

The Group combines a high standard of care, support and rehabilitation with quality accommodation and services. As such it recognises that risk from employee retention is key. To mitigate this risk the Group continues to offer remuneration packages and training designed to retain key individuals.

KEY PERFORMANCE INDICATORS
The Group uses several key performance indicators to track performance which include turnover, gross margin and net profit before tax. Movements in these indicators have been discussed in the business review above.

ON BEHALF OF THE BOARD:





M N Abdullah - Director


13 March 2025

Abdeva Limited (Registered number: 12198999)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £ 150,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

M N Abdullah
A A Abdullah
M Y A Abdulla
M A Abdullah
P G Evans

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 the group and of the profit or loss of the group 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 accounting 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 that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





M N Abdullah - Director


13 March 2025

Report of the Independent Auditors to the Members of
Abdeva Limited

Opinion
We have audited the financial statements of Abdeva Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Abdeva Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Abdeva Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

The capability to detect irregularities is based on the auditor identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error, and then designing and performing audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

a) Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, the following approach was taken:

- Understanding the nature of the industry and sector, control environment and business performance;
- Consideration of the results of our enquiries of management and those charged with governance
about their own identification and assessment of the risks of irregularities;
- Understanding the company's policies and procedures on compliance with laws and regulations and
management of fraud risk, including documentation of instances of non-compliance of laws and
regulations and instances of actual, suspected or alleged fraud;
- Consideration of matters discussed among the audit engagement team regarding how and where
fraud might occur in the financial statements and any potential indicators of fraud;
- Understanding the legal and regulatory frameworks that the company operates in through enquiry of
management and those charged with governance and understanding the company's industry and
sector. The key laws and regulations that were considered to have an effect on material amounts and
disclosures in the financial statements included the Companies Act and tax legislation.

b) Audit response to risks identified

Based on this understanding, the following audit procedures were designed and performed to respond to the risks identified:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations described as having a direct effect on the financial
statement;
- Enquiring of management, those charged with governance and, where applicable, the company's
solicitors concerning actual and potential litigation and claims;
- Performing analytical procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud;
- Reviewing minutes of meetings of those charged with governance and, where applicable,
correspondence with regulators;
- Performing audit work over the risk of management override of controls, including testing of journal
entries and other adjustments for appropriateness and evaluating the business rationale of significant
transactions outside the normal course of business;
- Communication of potential fraud risks to all engagement team members and remaining alert to any
indications of fraud or non-compliance with laws and regulations throughout the audit.


Report of the Independent Auditors to the Members of
Abdeva Limited

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters
In the prior year the directors took advantage of section 477 of the Companies Act 2006 for the financial statements not to be audited. As a result the comparatives shown in these financial statements are not audited.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Peter Morris (Senior Statutory Auditor)
for and on behalf of Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

14 March 2025

Abdeva Limited (Registered number: 12198999)

Consolidated
Income Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
as restated
Notes £    £   

TURNOVER 3 2,961,180 1,969,790

Cost of sales (1,234,369 ) (1,006,917 )
GROSS PROFIT 1,726,811 962,873

Administrative expenses (1,494,364 ) (737,902 )
232,447 224,971

Other operating income 799,906 114,721
OPERATING PROFIT 5 1,032,353 339,692

Interest receivable and similar income 4,549 598
1,036,902 340,290

Interest payable and similar expenses 6 (128,422 ) (137,795 )
PROFIT BEFORE TAXATION 908,480 202,495

Tax on profit 7 (142,230 ) 37,175
PROFIT FOR THE FINANCIAL YEAR 766,250 239,670
Profit attributable to:
Owners of the parent 669,825 202,914
Non-controlling interests 96,425 36,756
766,250 239,670

Abdeva Limited (Registered number: 12198999)

Consolidated
Other Comprehensive Income
for the Year Ended 30 June 2024

30.6.24 30.6.23
as restated
Notes £    £   

PROFIT FOR THE YEAR 766,250 239,670


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

766,250

239,670
Note
Prior year adjustment 10 33,318
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

799,568

Total comprehensive income attributable to:
Owners of the parent 703,143 202,914
Non-controlling interests 96,425 36,756
799,568 239,670

Abdeva Limited (Registered number: 12198999)

Consolidated Balance Sheet
30 June 2024

30.6.24 30.6.23
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 11 8,065,474 8,012,925
Investments 12 - -
8,065,474 8,012,925

CURRENT ASSETS
Debtors 13 603,569 289,301
Cash at bank and in hand 851,874 441,451
1,455,443 730,752
CREDITORS
Amounts falling due within one year 14 (2,838,189 ) (2,501,673 )
NET CURRENT LIABILITIES (1,382,746 ) (1,770,921 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,682,728

6,242,004

CREDITORS
Amounts falling due after more than one
year

15

(2,206,608

)

(2,382,276

)

PROVISIONS FOR LIABILITIES 18 (978 ) (835 )
NET ASSETS 4,475,142 3,858,893

CAPITAL AND RESERVES
Called up share capital 19 250 250
Share premium 20 16,998 16,998
Merger relief reserve 20 549,053 549,053
Retained earnings 20 3,223,031 2,703,206
SHAREHOLDERS' FUNDS 3,789,332 3,269,507

NON-CONTROLLING INTERESTS 21 685,810 589,386
TOTAL EQUITY 4,475,142 3,858,893

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





M N Abdullah - Director


Abdeva Limited (Registered number: 12198999)

Company Balance Sheet
30 June 2024

30.6.24 30.6.23
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 11 - -
Investments 12 2,610,095 2,610,095
2,610,095 2,610,095

CURRENT ASSETS
Cash in hand 168 168

CREDITORS
Amounts falling due within one year 14 (4,095 ) (4,095 )
NET CURRENT LIABILITIES (3,927 ) (3,927 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,606,168

2,606,168

CAPITAL AND RESERVES
Called up share capital 19 250 250
Share premium 16,998 16,998
Merger relief reserve 799,920 799,920
Fair value reserve 1,789,000 1,789,000
SHAREHOLDERS' FUNDS 2,606,168 2,606,168

Company's profit for the financial year 150,000 150,000

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





M N Abdullah - Director


Abdeva Limited (Registered number: 12198999)

Consolidated Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 July 2022 250 2,650,292 16,998

Changes in equity
Dividends - (150,000 ) -
Total comprehensive income - 169,596 -
Balance at 30 June 2023 250 2,669,888 16,998
Prior year adjustment - 33,318 -
As restated 250 2,703,206 16,998

Changes in equity
Dividends - (150,000 ) -
Total comprehensive income - 669,825 -
Balance at 30 June 2024 250 3,223,031 16,998
Merger
relief Non-controlling Total
reserve Total interests equity
£    £    £    £   
Balance at 1 July 2022 549,053 3,216,593 552,630 3,769,223

Changes in equity
Dividends - (150,000 ) - (150,000 )
Total comprehensive income - 169,596 36,756 206,352
Balance at 30 June 2023 549,053 3,236,189 589,386 3,825,575
Prior year adjustment - 33,318 - 33,318
As restated 549,053 3,269,507 589,386 3,858,893

Changes in equity
Dividends - (150,000 ) - (150,000 )
Total comprehensive income - 669,825 96,425 766,250
Balance at 30 June 2024 549,053 3,789,332 685,811 4,475,143

Abdeva Limited (Registered number: 12198999)

Company Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 July 2022 250 - 16,998

Changes in equity
Dividends - (150,000 ) -
Total comprehensive income - 150,000 -
Balance at 30 June 2023 250 - 16,998

Changes in equity
Dividends - (150,000 ) -
Total comprehensive income - 150,000 -
Balance at 30 June 2024 250 - 16,998
Merger Fair
relief value Total
reserve reserve equity
£    £    £   
Balance at 1 July 2022 799,920 1,789,000 2,606,168

Changes in equity
Dividends - - (150,000 )
Total comprehensive income - - 150,000
Balance at 30 June 2023 799,920 1,789,000 2,606,168

Changes in equity
Dividends - - (150,000 )
Total comprehensive income - - 150,000
Balance at 30 June 2024 799,920 1,789,000 2,606,168

Abdeva Limited (Registered number: 12198999)

Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,063,608 509,161
Interest paid (128,422 ) (137,795 )
Tax paid (17,187 ) (26,348 )
Net cash from operating activities 917,999 345,018

Cash flows from investing activities
Purchase of tangible fixed assets (236,429 ) (885,160 )
Interest received 4,549 598
Net cash from investing activities (231,880 ) (884,562 )

Cash flows from financing activities
New loans in year - 450,000
Loan repayments in year (175,668 ) (169,673 )
Other loans in year - 250,000
Amount introduced by directors 49,972 100,000
Equity dividends paid (150,000 ) (150,000 )
Net cash from financing activities (275,696 ) 480,327

Increase/(decrease) in cash and cash equivalents 410,423 (59,217 )
Cash and cash equivalents at
beginning of year

2

441,451

500,668

Cash and cash equivalents at end of
year

2

851,874

441,451

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

30.6.24 30.6.23
as restated
£    £   
Profit before taxation 908,480 202,495
Depreciation charges 183,879 109,655
Finance costs 128,422 137,795
Finance income (4,549 ) (598 )
1,216,232 449,347
Increase in trade and other debtors (314,268 ) (95,083 )
Increase in trade and other creditors 161,644 154,897
Cash generated from operations 1,063,608 509,161

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 851,874 441,451
Year ended 30 June 2023
30.6.23 1.7.22
as restated
£    £   
Cash and cash equivalents 441,451 500,668


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 441,451 410,423 851,874
441,451 410,423 851,874
Debt
Debts falling due within 1 year (643,634 ) - (643,634 )
Debts falling due after 1 year (2,382,276 ) 175,668 (2,206,608 )
(3,025,910 ) 175,668 (2,850,242 )
Total (2,584,459 ) 586,091 (1,998,368 )

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Abdeva Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The Group and company have net current liabilities at the year end. They are dependent on the continued support of the directors for the continuance of trade. The directors intend to continue with such support. On that basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of that support.

Basis of consolidation
The consolidated financial statements present the results of the company and its subsidiaries (the "Group") as it they formed a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated accounts have been prepared using merger accounting principles, due to a group reconstruction occurring when the parent company of Maplyn Care Services Ltd and EAO Property Ltd was introduced via a share for share exchange in March 2020.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The group and company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the economic useful lives and residual values of assets. The useful economic lives and residual values are reviewed annually.

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is estimates as the fair value of the consideration received and receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue form 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.

i) the amount of revenue can be reliably measured
ii) it is probable that the Group will receive the consideration due under the contract;
iii) the stage of completion of the contract at the end of the reporting period can be measured reliably; and
iv) the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost included 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.

Financial instruments
The company and group only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

4. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
as restated
£    £   
Wages and salaries 1,186,462 999,726
Social security costs 93,024 72,958
Other pension costs 20,635 14,445
1,300,121 1,087,129

The average number of employees during the year was as follows:
30.6.24 30.6.23
as restated

Care workers 50 51
Directors 5 5
55 56

30.6.24 30.6.23
as restated
£    £   
Directors' remuneration 60,000 60,000
Directors' pension contributions to money purchase schemes 1,239 413

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 1

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

5. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
as restated
£    £   
Other operating leases 132,786 111,938
Depreciation - owned assets 183,880 109,079
Auditors' remuneration 20,000 -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.24 30.6.23
as restated
£    £   
Bank loan interest 128,032 123,970
Loan interest - 13,825
Corporation tax interest 390 -
128,422 137,795

7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
30.6.24 30.6.23
as restated
£    £   
Current tax:
UK corporation tax 165,232 40,332
CT under/over provision (23,145 ) (78,191 )
Total current tax 142,087 (37,859 )

Deferred tax 143 684
Tax on profit 142,230 (37,175 )

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

7. TAXATION - continued

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.24 30.6.23
as restated
£    £   
Profit before tax 908,480 202,495
Profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 19 %)

227,120

38,474

Effects of:
Expenses not deductible for tax purposes 36,959 9,874
Income not taxable for tax purposes (47 ) -
Adjustments to tax charge in respect of previous periods (14,815 ) (78,191 )
Deferred tax asset not recognised (106,987 ) (7,332 )
Total tax charge/(credit) 142,230 (37,175 )

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
30.6.24 30.6.23
as restated
£    £   
Ordinary shares of 1p each
Interim 50,000 50,000
Ordinary 'B' shares of 1p each
Interim 50,000 50,000
Ordinary 'D' shares of 1p each
Interim 50,000 50,000
150,000 150,000

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

10. PRIOR YEAR ADJUSTMENT

A prior year adjustment has been made to correct the group income cut off between the year ended 30 June 2023 and year ended 30 June 2024.

Below is a summary of the impact of the adjustment on the group figures in the prior year.



Year ended
30 June
2023


£
Increase in accrued income 36,071
Increase in deferred income (2,753 )
Total increase in Net Assets 33,318

Increase in turnover 33,318
Total increase/(decrease) in profit for the Financial Period 33,318


11. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2023 8,832,331 18,606 35,075
Additions 233,291 - -
At 30 June 2024 9,065,622 18,606 35,075
DEPRECIATION
At 1 July 2023 822,747 18,606 34,509
Charge for year 181,313 - 142
At 30 June 2024 1,004,060 18,606 34,651
NET BOOK VALUE
At 30 June 2024 8,061,562 - 424
At 30 June 2023 8,009,584 - 566

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

11. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 1,000 15,160 8,902,172
Additions - 3,138 236,429
At 30 June 2024 1,000 18,298 9,138,601
DEPRECIATION
At 1 July 2023 968 12,417 889,247
Charge for year 8 2,417 183,880
At 30 June 2024 976 14,834 1,073,127
NET BOOK VALUE
At 30 June 2024 24 3,464 8,065,474
At 30 June 2023 32 2,743 8,012,925

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 2,610,095
NET BOOK VALUE
At 30 June 2024 2,610,095
At 30 June 2023 2,610,095

Cost or valuation at 30 June 2024 is represented by:

Shares in
group
undertaking
£   
Valuation in 2023 2,610,095

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

12. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Maplyn Care Services Ltd
Registered office: Unit 13 Babbage House, Northampton Science Park, Kings Park Road, Northampton, NN3 6LG
Nature of business: Supported living
%
Class of shares: holding
Ordinary 85.00
30.6.24 30.6.23
£    £   
Aggregate capital and reserves 3,313,250 2,882,121
Profit for the year 581,129 297,290

EAO Property Ltd
Registered office: Unit 13 Babbage House, Northampton Science Park, Kings Park Road, Northampton, NN3 6LG
Nature of business: Investment property
%
Class of shares: holding
Ordinary 95.00
30.6.24 30.6.23
£    £   
Aggregate capital and reserves 1,165,820 980,698
Profit/(loss) for the year 185,122 (121,847 )


13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
30.6.24 30.6.23
as restated
£    £   
Trade debtors 229,713 177,162
Other debtors 232,938 61,023
Prepayments and accrued income 140,522 36,071
Prepayments 396 15,045
603,569 289,301

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.24 30.6.23 30.6.24 30.6.23
as
restated
as
restated
£    £    £    £   
Bank loans and overdrafts (see note 16) 293,634 293,634 - -
Other loans (see note 16) 350,000 350,000 - -
Trade creditors 44,761 126,939 - -
Corporation tax 165,232 40,332 - -
Social security and other taxes 24,722 23,318 4,095 4,095
Other creditors 210,938 3,665 - -
Directors' current accounts 1,590,268 1,540,296 - -
Accruals and deferred income 158,634 123,489 - -
2,838,189 2,501,673 4,095 4,095

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
30.6.24 30.6.23
as restated
£    £   
Bank loans (see note 16) 2,206,608 2,382,276

16. LOANS

An analysis of the maturity of loans is given below:

Group
30.6.24 30.6.23
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans 293,634 293,634
Other loans 350,000 350,000
643,634 643,634
Amounts falling due between one and two years:
Bank loans - 1-2 years 293,634 293,634
Amounts falling due between two and five years:
Bank loans - 2-5 years 880,901 880,901
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more than 5 years 1,032,073 1,207,741

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

16. LOANS - continued

Bank loans are repayable monthly until maturity in 2031 and 2032 at interest rates of 1.9% to 2.5% per annum over the Bank of England Base Rate.

17. SECURED DEBTS

The following secured debts are included within creditors:

Group
30.6.24 30.6.23
as restated
£    £   
Bank loans 2,500,242 2,675,910

Bank loans are secured over the freehold property of the group.

18. PROVISIONS FOR LIABILITIES

Group
30.6.24 30.6.23
as restated
£    £   
Deferred tax
Accelerated capital allowances 978 835

Group
Deferred
tax
£   
Balance at 1 July 2023 835
Charge to Income Statement during year 143
Balance at 30 June 2024 978

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: as
restated
£    £   
5,100 Ordinary 'A' 1p 51 51
5,100 Ordinary 'B' 1p 51 51
5,100 Ordinary 'C' 1p 51 51
5,100 Ordinary 'D' 1p 51 51
4,600 Ordinary 'F' 1p 46 46
250 250

All share classes carry full voting rights with no restrictions and have no restrictions on the repayment of capital. The directors are entitled to vote an individual dividend on one class of share without the same dividend being voted to any other type of share.

Abdeva Limited (Registered number: 12198999)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

20. RESERVES

Called up share capital
This represents the nominal value of shares that have been issued.

Share premium account
The reserve records the amount above the nominal value received for shares sold, less transaction costs.

Fair value reserve
The reserve recognises all gains arising from the revaluation of investments.

Retained earnings
This includes all current and prior period retained profits and losses.

Merger relief reserve
This represents the premium realised on group reorganisation for which merger relief applied.

21. NON-CONTROLLING INTERESTS

The movement in non-controlling interests was as follows:
£

At 1 July 2022 552,630
Total comprehensive income attributable to non-controlling interests 36,756
At 30 June 2023 589,386

At 1 July 2023 589,386
Total comprehensive income attributable to non-controlling interests 96,425
At 30 June 2024 685,810

22. RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)
30.6.24 30.6.23
as restated
£    £   
Dividends 150,000 150,000
Amount due to related party 1,590,268 1,540,296

Other related parties

At 30 June 2024 an amount of £350,000 (2023 - £350,000) was owed by the Group to a related party company of which certain directors are also the directors.

The key management personnel of the entity are considered to be the directors of the company and group. Their remuneration is stated in Note 4.