Company registration number 13511752 (England and Wales)
ALZHEIMER'S DISEASE INTERNATIONAL LONDON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
PAGES FOR FILING WITH REGISTRAR
ALZHEIMER'S DISEASE INTERNATIONAL LONDON LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ALZHEIMER'S DISEASE INTERNATIONAL LONDON LIMITED
BALANCE SHEET
AS AT 30 JUNE 2022
30 June 2022
- 1 -
2022
Notes
£
£
Current assets
Debtors
3
148,016
Cash at bank and in hand
126,787
274,803
Creditors: amounts falling due within one year
4
(302,437)
Net current liabilities
(27,634)
Capital and reserves
Called up share capital
10
Profit and loss reserves
(27,644)
Total equity
(27,634)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 April 2023 and are signed on its behalf by:
M Lefevre
Director
Company Registration No. 13511752
ALZHEIMER'S DISEASE INTERNATIONAL LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
- 2 -
1
Accounting policies
Company information
Alzheimer's Disease International London Limited is a private company limited by shares incorporated in England and Wales. The registered office is 15 Blue Lion Place, London, SE1 4PU.
1.1
Reporting period
The financial statements are presented for a period shorter than one year. This is due to this being the company's first set of financial statements and running from the date of incorporation 15/07/2021 to the 30/06/2022.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3
Going concern
The company has net liabilities of £27,634 as at 30 June 2022 and is dependent on the continuing financial support of its parent. The directors have reviewed the extent of this continuing financial support available for at least the next 12 months and consider that the financial statements should be prepared on the going concern basis.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ALZHEIMER'S DISEASE INTERNATIONAL LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and 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.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2022
Number
Total
3
Debtors
2022
Amounts falling due within one year:
£
Trade debtors
103,493
Other debtors
44,523
148,016
4
Creditors: amounts falling due within one year
2022
£
Trade creditors
8,642
Amounts owed to group undertakings
284,836
Other creditors
8,959
302,437
ALZHEIMER'S DISEASE INTERNATIONAL LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
- 4 -
5
Parent company
Alzheimer's Disease International London Limited is wholly owned by Alzheimer's Disease International, a not-for-profit organisation registered in the USA. Its head office is at 15 Blue Lion Place, London, SE1 4PU.