Adamico Limited 12376117 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is buying, selling and renting of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 12376117 2024-01-01 2024-12-31 12376117 2024-12-31 12376117 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-12-31 12376117 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-12-31 12376117 core:CurrentFinancialInstruments 2024-12-31 12376117 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 12376117 bus:SmallEntities 2024-01-01 2024-12-31 12376117 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 12376117 bus:FilletedAccounts 2024-01-01 2024-12-31 12376117 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12376117 bus:RegisteredOffice 2024-01-01 2024-12-31 12376117 bus:Director1 2024-01-01 2024-12-31 12376117 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-01-01 2024-12-31 12376117 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12376117 countries:EnglandWales 2024-01-01 2024-12-31 12376117 2023-12-31 12376117 2023-01-01 2023-12-31 12376117 2023-12-31 12376117 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-12-31 12376117 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-12-31 12376117 core:CurrentFinancialInstruments 2023-12-31 12376117 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12376117

Adamico Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Adamico Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Adamico Limited

(Registration number: 12376117)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

7,739,248

5,421,493

Other financial assets

5

657,757

530,025

 

8,397,005

5,951,518

Current assets

 

Debtors

6

1,676,084

42,954

Cash at bank and in hand

 

332,139

164,938

 

2,008,223

207,892

Creditors : Amounts falling due within one year

7

(10,453,190)

(5,971,951)

Net current liabilities

 

(8,444,967)

(5,764,059)

Net (liabilities)/assets

 

(47,962)

187,459

Capital and reserves

 

Called up share capital

8

1

1

Profit and loss account

(47,963)

187,458

Shareholders' (deficit)/funds

 

(47,962)

187,459

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 August 2025
 

.........................................
A M Nemenyi
Director

 

Adamico Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Caxton Way
Watford Business Park
Watford
Hertfordshire
WD18 8UA
United Kingdom

These financial statements were authorised for issue by the director on 4 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£), which the functional currency of the company. Monetary amounts in the financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate.The directors have a reasonable expectatation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

 

Adamico Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Adamico Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Investment properties

2024
£

At 1 January

5,421,493

Additions

2,985,819

Disposals

(668,064)

At 31 December

7,739,248

In the opinion of the director, the carrying values of the investment properties are fairly stated in the financial statements.

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2024

530,025

530,025

Additions

251,164

251,164

Disposals

(123,432)

(123,432)

At 31 December 2024

657,757

657,757

Carrying amount

At 31 December 2024

657,757

657,757

At 31 December 2023

530,025

530,025

6

Debtors

Current

2024
£

2023
£

Trade debtors

47,040

41,400

Prepayments

3,550

1,554

Other debtors

1,625,494

-

 

1,676,084

42,954

 

Adamico Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors : amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

14,386

22,387

Taxation and social security

301

53,220

Accruals and deferred income

39,733

39,520

Other creditors

10,398,770

5,856,824

10,453,190

5,971,951

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Share capital of £1 each

1

1

1

1

       

9

Related party transactions

Other debtor includes an amount of £1,595,421 (2023:Nil) owed by a company in which the director has a 50% interest.

Included in other creditors at the reporting date is an amount of £10,312,288 (2023 - £5,770,600) owed to the director. This loan was provided unsecured and interest free. There are no formal terms and conditions regarding the loan.

Other creditors also includes an amount of £50,646 (2023 - £42,400) owed to a company controlled by the director.