ADA Enterprises (UK) Ltd 03934653 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is residential lettings. Digita Accounts Production Advanced 6.30.9574.0 true true 03934653 2022-03-01 2023-02-28 03934653 2023-02-28 03934653 core:RetainedEarningsAccumulatedLosses 2023-02-28 03934653 core:RevaluationReserve 2023-02-28 03934653 core:ShareCapital 2023-02-28 03934653 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 03934653 core:Non-currentFinancialInstruments 2023-02-28 03934653 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 03934653 core:FurnitureFittingsToolsEquipment 2023-02-28 03934653 core:LandBuildings 2023-02-28 03934653 bus:SmallEntities 2022-03-01 2023-02-28 03934653 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 03934653 bus:FullAccounts 2022-03-01 2023-02-28 03934653 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 03934653 bus:RegisteredOffice 2022-03-01 2023-02-28 03934653 bus:Director2 2022-03-01 2023-02-28 03934653 bus:Director3 2022-03-01 2023-02-28 03934653 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 03934653 core:FurnitureFittings 2022-03-01 2023-02-28 03934653 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 03934653 core:LandBuildings 2022-03-01 2023-02-28 03934653 countries:AllCountries 2022-03-01 2023-02-28 03934653 2022-02-28 03934653 core:FurnitureFittingsToolsEquipment 2022-02-28 03934653 core:LandBuildings 2022-02-28 03934653 2021-03-01 2022-02-28 03934653 2022-02-28 03934653 core:RetainedEarningsAccumulatedLosses 2022-02-28 03934653 core:RevaluationReserve 2022-02-28 03934653 core:ShareCapital 2022-02-28 03934653 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 03934653 core:Non-currentFinancialInstruments 2022-02-28 03934653 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 03934653 core:FurnitureFittingsToolsEquipment 2022-02-28 03934653 core:LandBuildings 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 03934653

ADA Enterprises (UK) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

ADA Enterprises (UK) Ltd

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

ADA Enterprises (UK) Ltd

Company Information
__________________________________________________________________________

Directors

R Aarons

B de Vries

Registered office

342 Regents Park Road
Finchley
London
N3 2LJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

ADA Enterprises (UK) Ltd

(Registration number: 03934653)
Balance Sheet as at 28 February 2023
__________________________________________________________________________

Note

2023
£

2022
£

   

     

Fixed assets

   

 

Tangible assets

3

 

759,855

 

759,943

Current assets

   

 

Debtors

4

245,962

 

38,766

 

Cash at bank and in hand

 

65,931

 

24,484

 

 

311,893

 

63,250

 

Creditors: Amounts falling due within one year

5

(379,319)

 

(168,780)

 

Net current liabilities

   

(67,426)

 

(105,530)

Total assets less current liabilities

   

692,429

 

654,413

Creditors: Amounts falling due after more than one year

5

 

(246,283)

 

(257,220)

Net assets

   

446,146

 

397,193

Capital and reserves

   

 

Called up share capital

180

 

180

 

Revaluation reserve

179,764

 

179,764

 

Profit and loss account

266,202

 

217,249

 

Total equity

   

446,146

 

397,193

For the financial year ending 28 February 2023 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.

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.

 

ADA Enterprises (UK) Ltd

(Registration number: 03934653)
Balance Sheet as at 28 February 2023
__________________________________________________________________________

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 7 November 2023 and signed on its behalf by:
 



R Aarons

Director

 

ADA Enterprises (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
__________________________________________________________________________

1

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

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.

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:

 

ADA Enterprises (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
__________________________________________________________________________

Asset class

Depreciation method and rate

Fixtures & fittings

25% reducing balance

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

ADA Enterprises (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
__________________________________________________________________________

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

759,591

4,102

763,693

At 28 February 2023

759,591

4,102

763,693

Depreciation

At 1 March 2022

-

3,750

3,750

Charge for the year

-

88

88

At 28 February 2023

-

3,838

3,838

Carrying amount

At 28 February 2023

759,591

264

759,855

At 28 February 2022

759,591

352

759,943

Included within the net book value of land and buildings above is £759,591 (2022 - £759,591) in respect of freehold land and buildings.
 

4

Debtors

Current

2023
£

2022
£

Prepayments

245,962

8,766

Other debtors

-

30,000

 

ADA Enterprises (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
__________________________________________________________________________

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Directors current account

347,815

138,050

Taxation and social security

 

11,504

10,730

Other creditors

 

20,000

20,000

 

379,319

168,780

Due after one year

 

Loans and borrowings

7

246,283

257,220

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

246,283

257,220

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

180

180

180

180

         

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

246,283

257,220