Company No:
Contents
| Note | 31.10.2025 | |
| £ | ||
| Fixed assets | ||
| Investments | 3 |
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| 5,226,004 | ||
| Current assets | ||
| Debtors |
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| Cash at bank and in hand |
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| 468,914 | ||
| Creditors: amounts falling due within one year | 4 | (
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| Net current liabilities | (1,818,643) | |
| Total assets less current liabilities | 3,407,361 | |
| Creditors: amounts falling due after more than one year | 5 | (
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| Net assets |
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| Capital and reserves | ||
| Called-up share capital | 6 |
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| Fair value reserve |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of 1ADL FIC Ltd (registered number:
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A Landsburgh
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
1ADL FIC Ltd (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 C/O Johnston Carmichael Birchin Court, Birchin Lane, London, EC3V 9DU, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The directors have considered the company’s financial position and expected cash flows for at least twelve months from the date of approval of these financial statements. The company holds long‑term investment assets of £5,159,937 and cash balances of £388,774, which together provide sufficient resources to meet anticipated costs and liabilities as they fall due.
The company has a loan of £3,059,414 with Rothschild & Co Bank International Limited, secured over the company’s Rothschild & Co investment portfolio and cash balances. The directors confirm that the company has complied with the terms of the facility to date and expect continued compliance throughout the assessment period.
Amounts owed to related parties total £2,276,029, and the directors have received confirmation that these balances will not be recalled within the going concern period.
On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
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.
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.
Basic financial assets
Basic financial assets, which include 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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
| Period from 10.10.2024 to 31.10.2025 |
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| Number | |
| Monthly average number of persons employed by the Company during the period, including directors |
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| Listed investments | Investments in associates | Other investments | Total | ||||
| £ | £ | £ | £ | ||||
| Cost or valuation before impairment | |||||||
| At 10 October 2024 |
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| Additions |
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| Movement in fair value |
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| At 31 October 2025 |
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| Carrying value at 31 October 2025 |
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Investments in shares
| Name of entity | Registered office | Principal activity | Class of shares |
Ownership 31.10.2025 |
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C/O Johnston Carmichael Birchin Court, 20 Birchin Lane, London, England, EC3V 9DU | Hotels and similar accommodation |
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Bearford House, 39 Hanover Street, Edinburgh, Scotland, EH2 2PJ | Buying and selling of own real estate |
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Bearford House, 39 Hanover Street, Edinburgh, Scotland, EH2 2PJ | Wholesale of wine, beer, spirits and other alcoholic beverages |
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| 31.10.2025 | |
| £ | |
| Amounts owed to related parties |
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| Taxation and social security |
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| Other creditors |
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| 31.10.2025 | |
| £ | |
| Bank loans |
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| 31.10.2025 | |
| £ | |
| Allotted, called-up and fully-paid | |
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| 400 |
Other related party transactions
| 31.10.2025 | |
| £ | |
| Amounts owed from other related parties | 63,948 |
| Amounts owed to other related parties | (2,276,029) |