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REGISTERED NUMBER: 03156714 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Ardohr Limited

Ardohr Limited (Registered number: 03156714)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ardohr Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr A M Meynell
Mr J M Arnaiz de Castro
Mr C F Eadie





SECRETARY: Forsters Secretaries





REGISTERED OFFICE: 22 Baker Street
London
W1U 3BW





REGISTERED NUMBER: 03156714 (England and Wales)





AUDITORS: Dux Advisory Limited
Kennel Club House
Gatehouse Way
Aylesbury
Buckinghamshire
HP19 8DB

Ardohr Limited (Registered number: 03156714)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 250 250
Tangible assets 5 402,977 338,225
Investments 6 1,110,733 1,110,733
1,513,960 1,449,208

CURRENT ASSETS
Debtors 7 330,330 67,140
Cash at bank 1,498,742 806,280
1,829,072 873,420
CREDITORS
Amounts falling due within one year 8 371,453 247,969
NET CURRENT ASSETS 1,457,619 625,451
TOTAL ASSETS LESS CURRENT LIABILITIES 2,971,579 2,074,659

CAPITAL AND RESERVES
Called up share capital 10 1,437,739 1,436,715
Share premium 11 5,280,076 3,506,158
Retained earnings 11 (3,746,236 ) (2,868,214 )
SHAREHOLDERS' FUNDS 2,971,579 2,074,659

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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





Mr A M Meynell - Director


Ardohr Limited (Registered number: 03156714)

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

1. STATUTORY INFORMATION

Ardohr 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 Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment and have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

The presentation currency is £ sterling, which is the functional currency of the company, and rounded to the nearest £.

Significant judgements and estimates
In preparing the financial statements it is necessary to make certain judgements, estimates and assumptions that effect the amounts recognised in the financial statements. These assumptions are reassessed annually as part of the accounts preparation process.

In the view of the directors applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material judgement in the next financial year.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the entity and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or 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 from 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:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of 5 years.

Ardohr Limited (Registered number: 03156714)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date.

Financial instruments
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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 objective evidence of impairment is found, an impairment loss is recognised in the Consolidated Statement of Comprehensive Income. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.


Ardohr Limited (Registered number: 03156714)

Notes to the 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.

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

Cash and cash equivalents
Cash and cash equivalents comprise cash balances. Bank overdrafts that are repayable on demand and form an integral part of the Companies cash management are included as a component of cash and cash equivalent for the purpose of the cash flow statement

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 250
NET BOOK VALUE
At 30 June 2024 250
At 30 June 2023 250

Ardohr Limited (Registered number: 03156714)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 928,308
Additions 173,192
At 30 June 2024 1,101,500
DEPRECIATION
At 1 July 2023 590,083
Charge for year 108,440
At 30 June 2024 698,523
NET BOOK VALUE
At 30 June 2024 402,977
At 30 June 2023 338,225

6. FIXED ASSET INVESTMENTS

30.6.24 30.6.23
£    £   
Shares in group undertakings 1,110,731 1,110,731
Loans to undertakings in which the company has
a participating interest

2

2
1,110,733 1,110,733

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 1,110,731
NET BOOK VALUE
At 30 June 2024 1,110,731
At 30 June 2023 1,110,731

Ardohr Limited (Registered number: 03156714)

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

6. FIXED ASSET INVESTMENTS - continued
Loans to
associates
£   
At 1 July 2023
and 30 June 2024 2

CreDec Limited is a 100% owned subsidiary of the company.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 6,804 6,804
Ahadra Ltd current account 1,258 1,258
Tax 249,326 -
VAT 54,784 39,612
Deferred tax asset 656 656
Prepayments and accrued income 17,502 18,810
330,330 67,140

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 682 3,484
Trade creditors 264,136 141,451
Amounts owed to group undertakings 7,084 10,054
Social security and other taxes 18,559 11,628
Other creditors 1,363 1,862
Accrued expenses 79,629 79,490
371,453 247,969

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank overdrafts 682 3,484

The company has secured Bank Overdrafts amounting to £682 (2023:£3,484).

The company is subject to a charge from Lloyds Bank Plc on a deposit agreement to secure its own liabilities.

Ardohr Limited (Registered number: 03156714)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal value: 30.06.24 30.06.23
£ £
2,773,960 Ordinary £0.01 27,739 26,715
19,100 Ordinary £10.99476 210,000 210,000
12,300 Ordinary £16.2602 200,000 200,000
119,800 Ordinary £4.17362 500,000 500,000
43,800 Ordinary £6.8493 300,000 300,000
18,600 Ordinary 10.7527 200,000 200,000
1,437,739 1,436,715

11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 July 2023 (2,868,214 ) 3,506,158 637,944
Deficit for the year (878,022 ) - (878,022 )
Cash share issue - 1,773,918 1,773,918
At 30 June 2024 (3,746,236 ) 5,280,076 1,533,840

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Bianca Permal FCA (Senior Statutory Auditor)
for and on behalf of Dux Advisory Limited

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Mr A M Meynell
Balance outstanding at start of year - (8 )
Amounts repaid - 8
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

14. RELATED PARTY DISCLOSURES

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.