Registrar
Registration number:
for the Year Ended
Adbury Electronics Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Adbury Electronics Limited
Company Information
Directors |
L Emptage B J Farley |
Registered office |
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Bankers |
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Accountants |
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Adbury Electronics Limited
(Registration number: 02111808)
Balance Sheet as at 31 December 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
925 |
925 |
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Revaluation reserve |
159,784 |
159,784 |
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Profit and loss account |
696,838 |
466,110 |
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Shareholders' funds |
857,547 |
626,819 |
For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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
Director
Adbury Electronics Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is: 7 - 8 The Galloway Centre, Express Way, Hambridge Lane, Newbury, Berkshire, RG14 5TL.
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.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Tax
Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
Depreciation
Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Buildings |
Not depreciated |
Plant and machinery |
10% Straight Line |
Fixtures and fittings |
10% Straight Line |
Motor vehicles |
25% Reducing balance |
Office equipment |
10% Straight Line |
Adbury Electronics Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade 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. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Adbury Electronics Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Tangible assets |
Land and buildings |
Office equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 January 2021 |
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At 31 December 2021 |
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Depreciation |
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At 1 January 2021 |
- |
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Charge for the year |
- |
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- |
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At 31 December 2021 |
- |
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Carrying amount |
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At 31 December 2021 |
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- |
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At 31 December 2020 |
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- |
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Included within the net book value of land and buildings above is £420,000 (2020 - £420,000) in respect of freehold land and buildings.
Revaluation
The fair value of the company's Freehold Land and Buildings was revalued on
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Investments |
2021 |
2020 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 January 2021 |
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Additions |
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Disposals |
( |
At 31 December 2021 |
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Provision |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Adbury Electronics Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
2020 |
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Subsidiary undertakings |
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7-8 Galloway Centre, Newbury, Berkshire, RG14 5TL England |
Ordinary |
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51 Western Promenade, Point Clear Bay St Osyth, Clacton On Sea, Essex, CO16 8NA England |
Ordinary |
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Debtors |
2021 |
2020 |
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Prepayments |
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Other debtors |
- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Social security and other taxes |
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Corporation tax |
1,355 |
3,706 |
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Accruals and deferred income |
2,098 |
1,893 |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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925 |
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925 |