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REGISTERED NUMBER: 04425102 (England and Wales)


Addison & Co (Teesdale) Ltd

Unaudited Financial Statements for the Year Ended 30 April 2023






Addison & Co (Teesdale) Ltd (Registered number: 04425102)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Addison & Co (Teesdale) Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTORS: R Tarn
D J Addison





SECRETARY: R Tarn





REGISTERED OFFICE: Ebor House
91 Galgate
Barnard Castle
Co Durham
DL12 8ES





REGISTERED NUMBER: 04425102 (England and Wales)





ACCOUNTANTS: Addison & Co
Ebor House
91 Galgate
Barnard Castle
Co Durham
DL12 8ES

Addison & Co (Teesdale) Ltd (Registered number: 04425102)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 510,000 510,000
Tangible assets 5 2,499 2,891
Investments 6 248,668 229,985
761,167 742,876

CURRENT ASSETS
Work in progress 193,791 221,817
Debtors 7 222,866 111,917
Cash at bank and in hand 66,140 56,347
482,797 390,081
CREDITORS
Amounts falling due within one year 8 196,245 134,797
NET CURRENT ASSETS 286,552 255,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,047,719

998,160

CREDITORS
Amounts falling due after more than one
year

9

45,976

37,299
NET ASSETS 1,001,743 960,861

Addison & Co (Teesdale) Ltd (Registered number: 04425102)

Balance Sheet - continued
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Preference Shares 10 34,000 34,000
Capital redemption reserve 516,000 516,000
Retained earnings 401,743 360,861
SHAREHOLDERS' FUNDS 1,001,743 960,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





D J Addison - Director


Addison & Co (Teesdale) Ltd (Registered number: 04425102)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Addison & Co (Teesdale) Ltd 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 fees received and receivable net of value added tax.

Goodwill
Goodwill is valued in accordance with industry standards and current market ratios.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 balance sheet date.

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.

Addison & Co (Teesdale) Ltd (Registered number: 04425102)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS

Goodwill is valued at cost, the value based on current market ratios is approximately £865,000.

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2022 17,632 67,669 85,301
Additions - 1,580 1,580
At 30 April 2023 17,632 69,249 86,881
DEPRECIATION
At 1 May 2022 17,632 64,778 82,410
Charge for year - 1,972 1,972
At 30 April 2023 17,632 66,750 84,382
NET BOOK VALUE
At 30 April 2023 - 2,499 2,499
At 30 April 2022 - 2,891 2,891

6. FIXED ASSET INVESTMENTS
Other
loans
£   
At 1 May 2022 229,985
New in year 18,683
At 30 April 2023 248,668

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 169,738 90,043
Other debtors 53,128 21,874
222,866 111,917

Addison & Co (Teesdale) Ltd (Registered number: 04425102)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 86,684 34,206
Taxation and social security 109,561 100,591
196,245 134,797

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.23 30.4.22
£    £   
Other creditors 45,976 37,299

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan - RT 45,976 33,431
Directors loan - DJA - 3,868
45,976 37,299

10. RESERVES
Preference
Shares
£   
At 1 May 2022
and 30 April 2023 34,000