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Financial Statements |
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for the Period |
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17 February 2021 to 31 December 2021 |
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for |
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ADEC Innovations UK Limited |
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Financial Statements |
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for the Period |
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17 February 2021 to 31 December 2021 |
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for |
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ADEC Innovations UK Limited |
ADEC Innovations UK Limited (Registered number: 13207044) |
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Contents of the Financial Statements |
for the Period 17 February 2021 to 31 December 2021 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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ADEC Innovations UK Limited |
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Company Information |
for the Period 17 February 2021 to 31 December 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chancery House |
30 St Johns Road |
Woking |
Surrey |
GU21 7SA |
ADEC Innovations UK Limited (Registered number: 13207044) |
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Statement of Financial Position |
31 December 2021 |
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Notes | € |
FIXED ASSETS |
Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ADEC Innovations UK Limited (Registered number: 13207044) |
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Notes to the Financial Statements |
for the Period 17 February 2021 to 31 December 2021 |
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1. | STATUTORY INFORMATION |
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ADEC Innovations UK Limited is a
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The presentation currency of the financial statements is the Euro (€). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
In assessing the ability of the Company to be treated as a going concern, the directors have considered the Company's deficiency of net assets. Included within current liabilities is a loan of €1,017,740 owed to a related party, ADEC Solutions Limited Bermuda. Although due on demand, the directors are of the view that demand for repayment of this amount will not be made whilst the Company is in need of the funds to meet its obligations as they fall due. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL. |
ADEC Innovations UK Limited (Registered number: 13207044) |
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Notes to the Financial Statements - continued |
for the Period 17 February 2021 to 31 December 2021 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
€ |
Cost |
Additions |
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At 31 December 2021 |
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Net book value |
At 31 December 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
€ |
Amounts owed by group undertakings |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
€ |
Amounts owed to group undertakings |
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