Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Mr V Piscopo 15 April 2025 The principal activity of the Company during the financial year was that of a holding company and also the letting of property. 05581756 2024-07-31 05581756 2023-07-31 05581756 core:CurrentFinancialInstruments 2024-07-31 05581756 core:CurrentFinancialInstruments 2023-07-31 05581756 core:Non-currentFinancialInstruments 2024-07-31 05581756 core:Non-currentFinancialInstruments 2023-07-31 05581756 core:ShareCapital 2024-07-31 05581756 core:ShareCapital 2023-07-31 05581756 core:FurtherSpecificReserve1ComponentTotalEquity 2024-07-31 05581756 core:FurtherSpecificReserve1ComponentTotalEquity 2023-07-31 05581756 core:RetainedEarningsAccumulatedLosses 2024-07-31 05581756 core:RetainedEarningsAccumulatedLosses 2023-07-31 05581756 core:CostValuation 2023-07-31 05581756 core:CostValuation 2024-07-31 05581756 2022-07-31 05581756 2023-08-01 2024-07-31 05581756 bus:FilletedAccounts 2023-08-01 2024-07-31 05581756 bus:SmallEntities 2023-08-01 2024-07-31 05581756 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 05581756 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05581756 bus:Director1 2023-08-01 2024-07-31 05581756 2022-08-01 2023-07-31 05581756 core:Non-currentFinancialInstruments 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Company No: 05581756 (England and Wales)

ABELLUM LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

ABELLUM LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

ABELLUM LIMITED

BALANCE SHEET

As at 31 July 2024
ABELLUM LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,035,912 412,992
Investments 4 252 252
1,036,164 413,244
Current assets
Debtors 5 641,180 717,610
Cash at bank and in hand 41,503 586,448
682,683 1,304,058
Creditors: amounts falling due within one year 6 ( 17,039) ( 15,668)
Net current assets 665,644 1,288,390
Total assets less current liabilities 1,701,808 1,701,634
Creditors: amounts falling due after more than one year 7 ( 1,940) ( 155,782)
Provision for liabilities 8, 9 ( 9,412) 0
Net assets 1,690,456 1,545,852
Capital and reserves
Called-up share capital 750 750
Fair value reserve 28,235 0
Profit and loss account 1,661,471 1,545,102
Total shareholder's funds 1,690,456 1,545,852

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Abellum Limited (registered number: 05581756) were approved and authorised for issue by the Director on 15 April 2025. They were signed on its behalf by:

Mr V Piscopo
Director
ABELLUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
ABELLUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Abellum Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

The company is run and administered by the director of the company for whom no formal contract of service is in place.

3. Investment property

Investment property
£
Valuation
As at 01 August 2023 412,992
Additions 585,274
Fair value movement 37,646
As at 31 July 2024 1,035,912

Valuation

The investment property was valued at 31 July 2024 by the director on open market basis.

The class of asset has a current value of £998,266 (2023 - £412,992) and a carrying amount at historical cost of £998,266 (2023 - £412,992). The depreciation on this historical cost is £nil (2023 - £nil).

There has been no valuation of investment property by an independent valuer.

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 August 2023 252
At 31 July 2024 252
Carrying value at 31 July 2024 252
Carrying value at 31 July 2023 252

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 640,710 717,497
Other debtors 470 113
641,180 717,610

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 4,080
Taxation and social security 13,531 9,270
Other creditors 3,508 2,318
17,039 15,668

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 154,154
Other creditors 1,940 1,628
1,940 155,782

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

2024 2023
£ £
Deferred tax 9,412 0

9. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Charged to the Profit and Loss Account ( 9,412) 0
At the end of financial year ( 9,412) 0

10. Related party transactions

During the year the director maintained an interest free loan with the company which is repayable on demand. At the balance sheet date the amount due from the company was £1,940 (2023 - £1,628).