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Registration number: 08701942

Adloox Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Adloox Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 8

 

Adloox Limited

Company Information

Director

A Coghlan

Company secretary

Goodwille Limited

Registered office

1 Chapel Street
Warwick
Warwickshire
CV34 4HL

Accountants

Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Adloox Limited

(Registration number: 08701942)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Non current assets

 

Property, plant and equipment

5

-

-

Current assets

 

Receivables

6

146,786

159,339

Cash at bank and in hand

7

277,377

266,670

 

424,163

426,009

Payables: Amounts falling due within one year

8

(1,284,521)

(1,242,744)

Net current liabilities

 

(860,358)

(816,735)

Net liabilities

 

(860,358)

(816,735)

Equity

 

Called up share capital

10

1

1

Retained earnings

10

(860,359)

(816,736)

Total equity

 

(860,358)

(816,735)

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 on 6 March 2025

.........................................

A Coghlan
Director

 

Adloox Limited

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

1

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.

2

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

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the statement of financial position date. All exchange differences are included in the income statement.

 

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

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company during the year, was 3 (2023 - 3).

4

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 25% (2023 -19%).

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

(43,623)

(39,156)

Corporation tax at standard rate

(10,906)

(7,440)

Effect of expense not deductible in determining taxable profit (tax loss)

398

-

Effect of tax losses

10,527

7,440

Tax decrease from other short-term timing differences

(19)

-

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.

5

Property plant and equipment

Computer equipment
 £

Cost

At 1 July 2023

1,073

At 30 June 2024

1,073

Depreciation

At 1 July 2023

1,073

At 30 June 2024

1,073

Carrying amount

At 30 June 2024

-

At 30 June 2023

-

6

Receivables

2024
£

2023
£

Trade receivables

113,519

119,570

Amounts owed by fellow subsidiary undertaking

31,680

31,680

Prepayments

1,587

8,089

146,786

159,339

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)

7

Cash and cash equivalents

2024
£

2023
£

Cash at bank

277,377

266,670

8

Payables

2024
£

2023
£

Due within one year

Trade payable

11,567

17,083

Amounts owed to parent undertaking

1,226,060

1,178,316

Social security and other taxes

6,973

16,168

Pension contributions

1,000

966

Other payables

10,487

10,487

Accruals and deferred income

28,434

19,724

1,284,521

1,242,744

The amounts owed to parent undertaking disclosed as falling within one year is unsecured, payable on demand and bears interest at 1% per annum.

9

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 - £5,547). Contributions totalling £1,000 (2023 - £966) were payable to the scheme at the end of the year and are included in payables.

 

Adloox Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2024 (continued)

10

Share capital and reserves

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

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.

11

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.

12

Parent and ultimate parent undertaking

The parent company and controlling party is Adloox S.A.S, a company registered in France, by virtue of it's 100% interest in the issued share capital of the company.
 
These financial statements are available upon request from 40 rue du Louvre, 75001 Paris.

13

Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.