Registration number:
Adloox Limited
for the Year Ended 30 June 2024
Adloox Limited
Contents
Company Information |
|
Statement of Financial Position |
|
Notes to the Unaudited Financial Statements |
Adloox Limited
Company Information
Director |
A Coghlan |
Company secretary |
Goodwille Limited |
Registered office |
|
Accountants |
|
Adloox Limited
(Registration number: 08701942)
Statement of Financial Position as at 30 June 2024
Note |
2024 |
2023 |
|
Non current assets |
|||
Property, plant and equipment |
- |
- |
|
Current assets |
|||
Receivables |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Payables: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Equity |
|||
Called up share capital |
|
|
|
Retained earnings |
( |
( |
|
Total equity |
( |
( |
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.
Director's responsibilities:
• |
|
• |
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in
accordance with the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.
The financial statements of Adloox Limited were approved and authorised for issue by the
.........................................
Director
Adloox Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024
General information |
Adloox Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.
Accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The directors have considered financial projections for the company and and the availability of banking facilitates over the foreseeable future and have also reviewed the ongoing committed financial support from the company's parent undertaking and are confident that this will be available for the foreseeable future. After making enquiries, the directors are satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the company’s financial statements.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Revenue recognition
Revenue comprises the fair value of the consideration received or receivable for the provision of digital advertising verification services to customers in the ordinary course of the company’s activities. Revenue is shown net of value added tax.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.
Foreign currency transactions and balances
Adloox Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024 (continued)
2 |
Accounting policies (continued) |
Taxation
The tax expense for the period comprises current tax. Tax is recognised in the statement of income and retained earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Property plant and equipment
Property, plant and equipment are recorded at historical cost less accumulated depreciation. Cost comprises the purchase price together with all expenses directly incurred in bringing the asset to its location and condition ready for use.
Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
2 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and at bank that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Receivables
Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.
Those that are receivable after more than one year or that constitute a financing transaction are
recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.
Payables
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Adloox Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024 (continued)
2 |
Accounting policies (continued) |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Staff numbers |
The average number of persons employed by the company during the year, was
Taxation |
Tax charged/(credited) in the income statement
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
- |
- |
The standard rate of UK corporation tax applied to the reported profit before tax for the year is
The difference between the total tax charge shown above and the amount calculated by applying the standard rate of UK corporation tax to the profit before tax is as follows:
2024 |
2023 |
|
Loss before tax |
( |
( |
Corporation tax at standard rate |
( |
( |
Effect of expense not deductible in determining taxable profit (tax loss) |
|
- |
Effect of tax losses |
|
|
Tax decrease from other short-term timing differences |
( |
- |
Total tax charge/(credit) |
- |
- |
Adloox Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024 (continued)
4 |
Taxation (continued) |
The company has trading losses of approximately £732,467 (2023: £701,000) available to be carried forward to be set off against future trading profits. No deferred tax asset has been recognised in respect of these losses.
Property plant and equipment |
Computer equipment |
|
Cost |
|
At 1 July 2023 |
|
At 30 June 2024 |
|
Depreciation |
|
At 1 July 2023 |
|
At 30 June 2024 |
|
Carrying amount |
|
At 30 June 2024 |
- |
At 30 June 2023 |
- |
Receivables |
2024 |
2023 |
|
Trade receivables |
|
|
Amounts owed by fellow subsidiary undertaking |
|
|
Prepayments |
|
|
|
|
The amount owed by fellow subsidiary undertaking disclosed as falling within one year is unsecured, payable on demand and is non-interest bearing.
Adloox Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024 (continued)
Cash and cash equivalents |
2024 |
2023 |
|
Cash at bank |
|
|
Payables |
2024 |
2023 |
|
Due within one year |
||
Trade payable |
|
|
Amounts owed to parent undertaking |
|
|
Social security and other taxes |
|
|
Pension contributions |
|
|
Other payables |
|
|
Accruals and deferred income |
|
|
|
|
The amounts owed to parent undertaking disclosed as falling within one year is unsecured, payable on demand and bears interest at 1% per annum.
Pension scheme |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £6,172 (2023 - £
Adloox Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024 (continued)
Share capital and reserves |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
1 |
|
1 |
The company has one class of share capital which carries no right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Related party transactions |
The company is a wholly owned subsidiary and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" not to disclose transactions with entities that are wholly owned members of the group.
Parent and ultimate parent undertaking |
These financial statements are available upon request from 40 rue du Louvre, 75001 Paris.
Events after the financial period |
|