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Registration number: 03663532

AdBro Controls Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2021

 

AdBro Controls Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

AdBro Controls Limited

(Registration number: 03663532)
Balance Sheet as at 30 November 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

5

8,613

9,837

Current assets

 

Debtors

6

459,482

351,903

Cash at bank and in hand

 

172,378

167,634

 

631,860

519,537

Creditors: Amounts falling due within one year

7

(102,937)

(161,547)

Net current assets

 

528,923

357,990

Total assets less current liabilities

 

537,536

367,827

Creditors: Amounts falling due after more than one year

7

(181,280)

(208,333)

Net assets

 

356,256

159,494

Capital and reserves

 

Called up share capital

500

500

Other reserves

500

500

Profit and loss account

355,256

158,494

Shareholders' funds

 

356,256

159,494

 

AdBro Controls Limited

(Registration number: 03663532)
Balance Sheet as at 30 November 2021

For the financial year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 August 2022 and signed on its behalf by:
 

.........................................

P Admans
Director

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6 Red Shute Hill Industrial Estate
Red Shute Hill Hermitage
Thatcham
England
RG18 9QL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Government grants

Government grants are accounted for as revenue based grants under the accrual model in the period in which they are receivable.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2021

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

Fixtures and Fittings

25% Straight Line

Motor Vehicles

25% Straight Line

Office Equipment

25% Straight Line

Freehold Land and Buildings

2% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2021

3

Other operating income

During the year, the company received grants of £39,653 from the Coronavirus Job Retention Scheme and £6,239 from the Coronavirus Business Interuption Loan Scheme.

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2020 - 15).

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2021

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2020

30,937

14,145

36,193

31,635

112,910

Additions

1,747

-

1,751

-

3,498

At 30 November 2021

32,684

14,145

37,944

31,635

116,408

Depreciation

At 1 December 2020

30,937

14,145

35,209

22,782

103,073

Charge for the year

230

-

896

3,596

4,722

At 30 November 2021

31,167

14,145

36,105

26,378

107,795

Carrying amount

At 30 November 2021

1,517

-

1,839

5,257

8,613

At 30 November 2020

-

-

984

8,853

9,837

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2021

6

Debtors

2021
£

2020
£

Trade debtors

391,244

277,264

Prepayments

16,858

26,870

Other debtors

51,380

47,769

459,482

351,903

7

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Loans and borrowings

46,397

41,667

Trade creditors

40,641

42,936

Taxation and social security

7,243

67,658

Other creditors

8,656

9,286

102,937

161,547

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

181,280

208,333

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2021

8

Loans and borrowings

2021
£

2020
£

Current loans and borrowings

Bank borrowings

46,397

41,667

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

181,280

208,333

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £263,900 (2020 - £343,400).