Company Registration No. 09154504 (England and Wales)
ANDUSIA MANAGEMENT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ANDUSIA MANAGEMENT LIMITED
CONTENTS
Page
Company information
Balance sheet
1
Notes to the financial statements
3 - 11
ANDUSIA MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
253,203
152,111
Tangible assets
5
385,397
288,574
Investments
6
-
0
6
638,600
440,691
Current assets
Debtors
7
390,714
50,571
Cash at bank and in hand
317,312
5,758
708,026
56,329
Creditors: amounts falling due within one year
8
(967,857)
(118,245)
Net current liabilities
(259,831)
(61,916)
Net assets
378,769
378,775
Capital and reserves
Called up share capital
9
104
104
Profit and loss reserves
378,665
378,671
Total equity
378,769
378,775

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 4 April 2025 and are signed on its behalf by:
Mr S Burton
Mr M Terrell
Director
Director
Company registration number 09154504 (England and Wales)
ANDUSIA MANAGEMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
104
1,727,963
1,728,067
Year ended 31 December 2023:
Profit and total comprehensive income
-
1,600,708
1,600,708
Dividends
-
(2,950,000)
(2,950,000)
Balance at 31 December 2023
104
378,671
378,775
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
0
-
0
Dividends
-
(6)
(6)
Balance at 31 December 2024
104
378,665
378,769
ANDUSIA MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Andusia Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Centrus, Mead Lane, Hertford, SG13 7GX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer software
4 years straight line
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Furniture, fittings and equipment
25% - 33% reducing balance
Motor vehicles
Enter depreciation rate via StatDB - cd78

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ANDUSIA MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ANDUSIA MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

ANDUSIA MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
16
11
ANDUSIA MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Intangible fixed assets
Other
£
Cost
At 1 January 2024
176,100
Additions
104,220
At 31 December 2024
280,320
Amortisation and impairment
At 1 January 2024
23,989
Amortisation charged for the year
3,128
At 31 December 2024
27,117
Carrying amount
At 31 December 2024
253,203
At 31 December 2023
152,111
5
Tangible fixed assets
Leasehold land and buildings
Furniture, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
134,177
87,030
143,847
365,054
Additions
-
0
37,544
238,651
276,195
Disposals
-
0
(1,488)
-
0
(1,488)
Transfers
(134,177)
-
0
-
0
(134,177)
At 31 December 2024
-
0
123,086
382,498
505,584
Depreciation and impairment
At 1 January 2024
37,011
39,469
-
0
76,480
Depreciation charged in the year
13,418
14,767
67,135
95,320
Eliminated in respect of disposals
-
0
(1,184)
-
0
(1,184)
Transfers
(50,429)
-
0
-
0
(50,429)
At 31 December 2024
-
0
53,052
67,135
120,187
Carrying amount
At 31 December 2024
-
0
70,034
315,363
385,397
At 31 December 2023
97,166
47,561
143,847
288,574
ANDUSIA MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Tangible fixed assets
(Continued)
- 8 -

During the year leasehold improvements were transferred to Ladygrove Investments Ltd, a fellow group member who owns the freehold property to which the improvements relate.

6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
-
0
6
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
6
Disposals
(6)
At 31 December 2024
-
Carrying amount
At 31 December 2024
-
At 31 December 2023
6

All previously held investments were transferred to Andusia Holdings Limited during 2024 for par value.

7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
14,000
Amounts owed by group undertakings
83,742
-
0
Other debtors
306,972
36,571
390,714
50,571
ANDUSIA MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
16,846
28,102
Amounts owed to group undertakings
520,805
60,788
Taxation and social security
381,292
1,983
Other creditors
48,914
27,372
967,857
118,245
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A1 Shares of 1p each
3,000
3,000
30
30
A2 Shares of 1p each
2,000
2,000
20
20
B1 Shares of 1p each
3,000
3,000
30
30
B2 Shares of 1p each
2,000
2,000
20
20
C Shares of 1p each
420
420
4
4
10,420
10,420
104
104
ANDUSIA MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Called up share capital
(Continued)
- 10 -

Rights, preferences and restrictions

A1 Shares have the following rights, preferences and restrictions:

Full voting rights ranking equally with A2 share, B1 shares, B2 shares and C shares. Rights to particular dividend distributions to extent declared equally within A1 and B1 share classes. Rights to participate in capital distributions (or on disposals) ranking equally with A2 shares, B1 share and B2 shares. Non-redeemable.

 

A2 Shares have the following rights, preferences and restrictions:

Full voting rights ranking equally with A1 share, B1 shares, B2 shares and C shares. Rights to particular dividend distributions to extent declared equally within A2 and B2 share classes. Rights to participate in capital distributions (or on disposals) ranking equally with A1 shares, B1 share and B2 shares. Non-redeemable.

 

B1 Shares have the following rights, preferences and restrictions:

Full voting rights ranking equally with A1 share, A2 shares, B2 shares and C shares. Rights to particular dividend distributions to extent declared equally within A1 and B1 share classes. Rights to participate in capital distributions (or on disposals) ranking equally with A1 shares, A2 share and B2 shares. Non-redeemable.

 

B2 Shares have the following rights, preferences and restrictions:

Full voting rights ranking equally with A1 share, A2 shares, B1 shares and C shares. Rights to particular dividend distributions to extent declared equally within A2 and B2 share classes. Rights to participate in capital distributions (or on disposals) ranking equally with A1 shares, A2 share and B1 shares. Non-redeemable.

 

C Shares have the following rights, preferences and restrictions:

Full voting rights ranking equally with A1 share, A2 shares, B1 shares and B2 shares. No rights to particular dividend distribution. Rights to participate in capital distributions (or on disposals) for amounts over and above £15,000,000. Non-redeemable.

 

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Josh Rowbottom
Statutory Auditor:
TC Group
Date of audit report:
7 April 2025
ANDUSIA MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
11
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
90,000
150,000
12
Related party transactions

Other information

 

The Company has taken advantage of the exemption in FRS 102 Section 33 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by its parent group.

13
Parent company

The ultimate parent is Andusia Holdings Limited, incorporated in England and Wales.

These financial statements are available upon request from 2 Centrus, Mead Lane, Hertford, SG13 7GX.

 

The parent of the largest group in which these financial statements are consolidated is Andusia Holdings Limited, incorporated in England and Wales.

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