ACCOUNTS - Final Accounts preparation

Registered number: 15146618

ADAH PROPERTIES LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

ADAH PROPERTIES LTD

REGISTERED NUMBER: 15146618

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2024

		2024
Note		£

Fixed assets
Investment property	5		3,100,000
			3,100,000
Current assets
Debtors: amounts falling due within one year	6	15,298
		15,298
Creditors: amounts falling due within one year	7	(41,120)
Net current (liabilities)/assets			(25,822)
Total assets less current liabilities			3,074,178

Net assets			3,074,178

Capital and reserves
Called up share capital	8	100
Other reserves		1,240,000
Profit and loss account		1,834,078
		3,074,178

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ADAH PROPERTIES LTD

REGISTERED NUMBER: 15146618

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.

A Severis

Director

The notes on pages 4 to 8 form part of these financial statements.

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ADAH PROPERTIES LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

	Called up share capital	Other reserves	Profit and loss account	Total equity
	£	£	£	£
Comprehensive income for the period
Profit for the period	-	-	1,834,078	1,834,078
Total comprehensive income for the period	-	-	1,834,078	1,834,078
Contributions by and distributions to owners
Shares issued during the period	100	-	-	100
Movement during the period	-	1,240,000	-	1,240,000
Total transactions with owners	100	1,240,000	-	1,240,100
At 30 September 2024	100	1,240,000	1,834,078	3,074,178

The notes on pages 4 to 8 form part of these financial statements.

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ADAH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.	General information

ADAH Properties Ltd is a private company, limited by shares, registered in England and Wales registration number 15146618. The registered office address is 27 Old Gloucester Street, London, WC1N 3AX. The principal activity of the Company is property investment.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue principally comprises of rental income.
Rental income from the investment property leased out under operating leases is recognised in the statement of comprehensive income on an accruals basis over the term of the lease.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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ADAH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the

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ADAH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.8

Financial instruments (continued)

contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Employees

The average monthly number of employees, including directors, during the period was 3.

4.	Fixed asset investments

		Investments in subsidiary companies
		£

	Additions	100
	Disposals	(100)
	At 30 September 2024	-

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ADAH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

5.	Investment property

		Investment property
		£
	Valuation
	Additions at cost	1,268,548
	Surplus on revaluation	1,831,452
	At 30 September 2024	3,100,000

The 2024 valuations were made by Capital Prestige Ltd T/A Winkworth, on an open market value for existing use basis.

	If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
					2024
					£

Historic cost

1,240,000

Debtors

					2024
					£


	Other debtors	6,100
	Prepayments and accrued income	9,198
		15,298

7.	Creditors: Amounts falling due within one year
		2024
		£

	Other creditors	33,691
	Accruals and deferred income	7,429
		41,120

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ADAH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

8.	Share capital
		2024
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £1.00 each	100

Upon incorporation, 3 ordinary shares of £1 each were issued and paid at par.
During the year, the Company entered into a share exchange with Cripps S.A. (a company incorporated under the laws of Panama), in which the shareholders of Cripps transferred their total shares of USD 100 in the capital of Cripps to the Company in consideration for the allotment and issue by the Company to each shareholder of Cripps for a total of 97 ordinary shares of £1 each.

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