AdInMo Ltd
Registered number: SC648449
Unaudited Financial Statements
For The Year Ended
31 March 2023
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
AdInMo Ltd
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—7 |
Page 1
AdInMo Ltd
Balance Sheet
As At
31 March 2023
Balance Sheet
Registered number:
SC648449
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 as restated |
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
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| Tangible Assets | 5 |
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| Investments | 6 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 9 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 10 |
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| Share premium account |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,440,928 | 2,359,755 | |||
Page 1
Page 2
AdInMo Ltd
Balance Sheet (continued)
As At
31 March 2023
On behalf of the board
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Director
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The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
AdInMo Ltd
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
AdInMo Ltd
is a private company, limited by shares, incorporated in Scotland, registered number
SC648449
. The registered office is 26 Dublin Street, Edinburgh, EH3 6NN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised over 10 years on a straight line basis over their expected useful economic life.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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| Computer Equipment |
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2.5.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
AdInMo Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
2.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 10 (2022: 10)
4.
Intangible Assets
| Development Costs | |||
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| As at
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| Additions |
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| Net Book Value | |||
| As at
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| As at
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Page 4
Page 5
AdInMo Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
5.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at
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| Additions |
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| As at
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| Depreciation | |||
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| Provided during the period |
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| As at
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| Net Book Value | |||
| As at
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| As at
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6.
Investments
| Unlisted | |
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| Cost | |
| As at
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| As at
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| Provision | |
| As at
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| As at
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| Net Book Value | |
| As at
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| As at
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Page 5
Page 6
AdInMo Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
7.
Debtors
| 2023 | 2022 as restated |
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Corporation tax recoverable assets |
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| VAT |
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| Amounts owed by group undertakings |
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8.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 as restated |
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other taxes and social security |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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9.
Creditors: Amounts Falling Due After More Than One Year
| 2023 | 2022 as restated |
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| £ | £ | ||
| Bank loans |
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10.
Share Capital
| 2023 | 2022 as restated |
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| £ | £ | ||
| Allotted, Called up and fully paid |
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Page 6
Page 7
AdInMo Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
11.
Related Party Transactions
The company has taken advantage of the exemption under FRS 102 'Related party disclosures' from the requirement to make disclosures concerning transactions with its subsidiary on the grounds that it is a wholly owned subsidiary of the company.
As at 31 March 2023, the director, Christopher Wright, was owed £10,000 (2022: £10,000) from the Company.
Page 7