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REGISTERED NUMBER: 09517696 (England and Wales)









Financial Statements

for the Year Ended 31 March 2022

for

ADS RE Limited

ADS RE Limited (Registered number: 09517696)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ADS RE Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: Mr D Sidoli
Mr A M Sidoli
Mr S Cohen





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 09517696 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

ADS RE Limited (Registered number: 09517696)

Statement of Financial Position
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 54,553 66,056

CURRENT ASSETS
Debtors 5 625,724 1,038,520
Cash at bank and in hand 519,493 160,353
1,145,217 1,198,873
CREDITORS
Amounts falling due within one year 6 1,164,958 1,237,456
NET CURRENT LIABILITIES (19,741 ) (38,583 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,812

27,473

PROVISIONS FOR LIABILITIES 6,459 8,094
NET ASSETS 28,353 19,379

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 28,053 19,079
SHAREHOLDERS' FUNDS 28,353 19,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2022 and were signed on its behalf by:





Mr S Cohen - Director


ADS RE Limited (Registered number: 09517696)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

ADS RE Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced commission receivable entitled on exchange.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - straight line over the life of the lease
Fixtures and fittings - 25% Straight line
Computer equipment - 33.33% on cost

Taxation
Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

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.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 7 ) .

ADS RE Limited (Registered number: 09517696)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2021 50,416 39,657 9,278 99,351
Additions - 3,785 1,759 5,544
At 31 March 2022 50,416 43,442 11,037 104,895
DEPRECIATION
At 1 April 2021 8,412 18,660 6,223 33,295
Charge for year 5,042 10,008 1,997 17,047
At 31 March 2022 13,454 28,668 8,220 50,342
NET BOOK VALUE
At 31 March 2022 36,962 14,774 2,817 54,553
At 31 March 2021 42,004 20,997 3,055 66,056

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 413,412 369,317
Other debtors 212,312 669,203
625,724 1,038,520

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 128,002 129,438
Amounts owed to group undertakings 474,393 707,949
Taxation and social security 368,455 218,210
Other creditors 194,108 181,859
1,164,958 1,237,456

7. LEASING AGREEMENTS
At 31 March 2022, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of 693,049 (2021: £794,597).