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REGISTERED NUMBER: 02943163 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

ADHESIVES DIRECT UK LTD

ADHESIVES DIRECT UK LTD (REGISTERED NUMBER: 02943163)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADHESIVES DIRECT UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: J L Braithwaite
K Braithwaite



SECRETARY: K Braithwaite



REGISTERED OFFICE: 25 Grosvenor Road
Wrexham
LL11 1BT



REGISTERED NUMBER: 02943163 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25, Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Barclays Bank plc
51-52 Hope Street
Wrexham
LL11 1BB

ADHESIVES DIRECT UK LTD (REGISTERED NUMBER: 02943163)

BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,986 26,152

CURRENT ASSETS
Stocks 5 162,055 107,359
Debtors 6 198,671 259,867
Cash at bank 127,680 130,175
488,406 497,401
CREDITORS
Amounts falling due within one year 7 369,920 380,699
NET CURRENT ASSETS 118,486 116,702
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,472

142,854

CREDITORS
Amounts falling due after more than one year 8 (21,667 ) (31,667 )

PROVISIONS FOR LIABILITIES (3,342 ) (4,969 )
NET ASSETS 117,463 106,218

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 117,363 106,118
SHAREHOLDERS' FUNDS 117,463 106,218

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

ADHESIVES DIRECT UK LTD (REGISTERED NUMBER: 02943163)

BALANCE SHEET - continued
31ST MARCH 2023


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 26th September 2023 and were signed on its behalf by:





K Braithwaite - Director


ADHESIVES DIRECT UK LTD (REGISTERED NUMBER: 02943163)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Adhesives Direct UK 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
The financial statements have been prepared on a going concern basis on the assumption that the support of the providers of finance will be continued. If this support is withdrawn, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Turnover
Turnover comprises of the invoiced value of goods and services supplied by the company net of value added tax and trade discounts where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

ADHESIVES DIRECT UK LTD (REGISTERED NUMBER: 02943163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued

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 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office and Motor
Equipment fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2022 24,542 44,266 24,000 92,808
Additions 1,091 847 46,795 48,733
Disposals - - (55,995 ) (55,995 )
At 31st March 2023 25,633 45,113 14,800 85,546
DEPRECIATION
At 1st April 2022 17,374 40,282 9,000 66,656
Charge for year 2,352 1,552 - 3,904
Eliminated on disposal - - (9,000 ) (9,000 )
At 31st March 2023 19,726 41,834 - 61,560
NET BOOK VALUE
At 31st March 2023 5,907 3,279 14,800 23,986
At 31st March 2022 7,168 3,984 15,000 26,152

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 162,055 107,359

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 195,591 257,379
Prepayments 3,080 2,488
198,671 259,867

ADHESIVES DIRECT UK LTD (REGISTERED NUMBER: 02943163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 191,037 176,925
Bank loan 10,000 10,000
Tax 27,500 36,736
Social security and other taxes 25,256 29,073
Other creditors 8,137 28,370
Wage control 205 957
Directors' current accounts 103,979 95,138
Accrued expenses 3,806 3,500
369,920 380,699

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans (see note 9) 21,667 31,667

9. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due between one and two years:
Other loans - 1-5 years 21,667 31,667

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 6,525 6,525
Between one and five years - 8,700
6,525 15,225

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

12. CAPITAL COMMITMENTS
31.3.23 31.3.22
£    £   
Contracted but not provided for in the
financial statements - -