Registered number
05481298
Adeo Global Consulting Ltd
Filleted Accounts
28 June 2024
Adeo Global Consulting Ltd
Registered number: 05481298
Balance Sheet
as at 28 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 51,000 54,000
Tangible assets 4 52,272 62,477
103,272 116,477
Current assets
Debtors 5 1,429,789 1,262,818
Cash at bank and in hand 513,239 238,707
1,943,028 1,501,525
Creditors: amounts falling due within one year 6 (742,203) (633,935)
Net current assets 1,200,825 867,590
Total assets less current liabilities 1,304,097 984,067
Creditors: amounts falling due after more than one year 7 (22,585) (51,473)
Provisions for liabilities (12,527) (9,833)
Net assets 1,268,985 922,761
Capital and reserves
Called up share capital 260 260
Profit and loss account 1,268,725 922,501
Shareholder's funds 1,268,985 922,761
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Brazier
Director
Approved by the board on 24 March 2025
Adeo Global Consulting Ltd
Notes to the Accounts
for the year ended 28 June 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 39 37
3 Intangible fixed assets £
Goodwill:
Cost
At 29 June 2023 60,000
At 28 June 2024 60,000
Amortisation
At 29 June 2023 6,000
Provided during the year 3,000
At 28 June 2024 9,000
Net book value
At 28 June 2024 51,000
At 28 June 2023 54,000
Goodwill is being written off at 5% straight line.
4 Tangible fixed assets
Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £
Cost
At 29 June 2023 38,497 154,050 192,547
Additions 7,219 - 7,219
At 28 June 2024 45,716 154,050 199,766
Depreciation
At 29 June 2023 16,422 113,648 130,070
Charge for the year 7,324 10,100 17,424
At 28 June 2024 23,746 123,748 147,494
Net book value
At 28 June 2024 21,970 30,302 52,272
At 28 June 2023 22,075 40,402 62,477
5 Debtors 2024 2023
£ £
Trade debtors 870,300 762,914
Amounts owed by group undertakings and undertakings in which the company has a participating interest 242,416 259,583
Prepayments and accrued income 57,841 7,433
Other debtors 259,232 232,888
1,429,789 1,262,818
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,767 10,767
Obligations under finance lease and hire purchase contracts 16,404 20,645
Trade creditors 112,665 78,242
Taxation and social security costs 554,403 472,784
Other creditors 47,964 51,497
742,203 633,935
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,400 18,400
Obligations under finance lease and hire purchase contracts 14,185 33,073
22,585 51,473
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
I Brazier
Loan 1 (29/06/2020) 66,198 - - 66,198
Loan 2 (29/06/2021) 45,828 - - 45,828
Loan 3 (29/06/2022) 421 - - 421
Loan 4 (28/06/2023) 50,657 - - 50,657
163,104 - - 163,104
9 Other information
Adeo Global Consulting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Oakhurst Business Park
Wilberforce Way
Southwater
West Sussex
RH13 9RT
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