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REGISTERED NUMBER: 14002216 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

ADELAIDE FINCO (UK) LTD

ADELAIDE FINCO (UK) LTD (REGISTERED NUMBER: 14002216)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ADELAIDE FINCO (UK) LTD

COMPANY INFORMATION
for the Year Ended 31st December 2024







DIRECTOR: Mr H Johnson





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 14002216 (England and Wales)





AUDITORS: Xeinadin Audit Limited
100 Barbirolli Square
Manchester
M2 3BD

ADELAIDE FINCO (UK) LTD (REGISTERED NUMBER: 14002216)

BALANCE SHEET
31st December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 37,356 49,877

CURRENT ASSETS
Stocks 608,506 580,844
Debtors 5 322,607 364,481
Cash at bank 412,804 427,935
1,343,917 1,373,260
CREDITORS
Amounts falling due within one year 6 (1,258,455 ) (1,371,734 )
NET CURRENT ASSETS 85,462 1,526
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,818

51,403

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 122,817 51,402
SHAREHOLDERS' FUNDS 122,818 51,403

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th April 2025 and were signed by:





Mr H Johnson - Director


ADELAIDE FINCO (UK) LTD (REGISTERED NUMBER: 14002216)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2024


1. STATUTORY INFORMATION

Adelaide Finco (UK) Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 14002216. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD and principal place of business is Brun Barn, Diggle Edge, Oldham. OL3 5LS.

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.

Turnover
Turnover represents amounts recognised by the Company in respect of goods supplied, exclusive of Value
Added Tax and trade discounts. Turnover principally consists of the provision of hides and skins acquired as a by-product of the food processing industry, of which it is recognised at the point of which the goods are delivered and legal title is passed.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Computer equipment- 25% straight line
Motor vehicles- 25% reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Costs are based on the method most appropriate to the type of inventory class, usually on a first-in-first-out basis.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

ADELAIDE FINCO (UK) LTD (REGISTERED NUMBER: 14002216)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st January 2024
and 31st December 2024 792 53,780 54,572
DEPRECIATION
At 1st January 2024 213 4,482 4,695
Charge for year 197 12,324 12,521
At 31st December 2024 410 16,806 17,216
NET BOOK VALUE
At 31st December 2024 382 36,974 37,356
At 31st December 2023 579 49,298 49,877

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 325 -
Other debtors 322,282 364,481
322,607 364,481

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 539,067 699,627
Amounts owed to participating interests 599,856 599,856
Taxation and social security 7,420 15,503
Other creditors 112,112 56,748
1,258,455 1,371,734

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1.00 1 1

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

The Report of the Auditors was unqualified.

Michael Garrett (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

ADELAIDE FINCO (UK) LTD (REGISTERED NUMBER: 14002216)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2024


9. RELATED PARTY DISCLOSURES

During the year, the company undertook the following transactions with companies under common control:

2024 2023
£ £
Sales 12,071,025 10,352,169
Loan waiver - 200,000

During the year, the company undertook the following transactions with companies with a common director:

2024 2023
£ £
Sales 24,797 332,381
Purchases (5,695,738 ) (5,068,369 )

At the reporting date the company owed £599,856 to companies under common control (2023: £599,856). This amount has been included within amounts owed to participating interests.

At the reporting date the company owed £353,521 to companies with a common director (2023: £516,956). This amount has been included within trade creditors (£353,845) and trade debtors (£324).