ADZZ LTD

Company Registration Number:
SC663079 (Scotland)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

ADZZ LTD

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

ADZZ LTD

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 42,737 32,365
Tangible assets: 4 1,786,093 754,675
Total fixed assets: 1,828,830 787,040
Current assets
Stocks: 48,957 43,659
Debtors: 5 221,655 187,652
Cash at bank and in hand: 137,465 145,619
Total current assets: 408,077 376,930
Creditors: amounts falling due within one year:   (137,652) (144,659)
Net current assets (liabilities): 270,425 232,271
Total assets less current liabilities: 2,099,255 1,019,311
Creditors: amounts falling due after more than one year:   (508,864) (408,606)
Provision for liabilities: (38,619) (2,261)
Total net assets (liabilities): 1,551,772 608,444
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,551,672 608,344
Shareholders funds: 1,551,772 608,444

The notes form part of these financial statements

ADZZ LTD

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 03 November 2023
and signed on behalf of the board by:

Name: Milan Budai
Status: Director

The notes form part of these financial statements

ADZZ LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises revenue in respect of goods and services supplied during the year, excluding VAT and trade discounts. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. Turnover from provision of services is recognised by reference to the stage of completion of the contract, where it can be reliably estimated. If the outcome of a contract cannot be estimated reliably, turnover is only recognised to the extent of recoverable expenses.

Tangible fixed assets and depreciation policy

Tangible fixed assets, other than freehold property, are stated at cost less accumulated depreciation and any accumulated impairment losses. Freehold buildings may be stated at revaluation where this can be measured reliably, otherwise at cost, and less accumulated depreciation and any accumulated impairment losses.Depreciation is calculated on a straight-line basis, to allocate the cost less estimated residual value of tangible fixed assets, other than freehold land which is not depreciated, over their expected useful lives at the following rates:Freehold buildings are depreciated at an annual rate of 5 percentEquipment and tools are depreciated at an annual rate of 10 percentFixtures and fittings are depreciated at an annual rate of 10 percentMotor vehicles are depreciated at an annual rate of 20 percentThe residual value of assets is reviewed annually, and if there is indication of significant impairment to an asset, its carrying amount is reduced to the estimated recoverable amount. An impairment loss, recognised as the difference in these two amounts, is charged to profit or loss for the year.

Other accounting policies

StocksStocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes directly attributable labour and other costs of production. Appropriate provision is made for obsolete or slow-moving items.LeasesLeases are classified as finance leases where the terms of the lease give rights approximating to ownership. Assets held under finance leases or hire purchase contracts are treated as if they had been purchased outright included in tangible fixed assets and depreciated and assessed for impairment losses. Lease payments are apportioned between capital and finance charges so as to achieve a constant rate of interest over the term of the lease on the balance capital outstanding. The capital element reduces the amount payable to the creditor and the finance charges are deducted in measuring profit or loss.Leases that are not classified as finance leases are treated as operating leases. Rentals payable under operating leases are charged to profit and loss on a straight-line basis over the term of the lease.The aggregate benefit of any lease incentives are recognised in profit and loss over the lease term on a straight-line basis.Deferred taxationThe tax expense for the year comprises undiscounted current and deferred tax, where appropriate. Deferred tax, using the tax rates enacted or substantively enacted by the reporting date, is recognised in respect of all timing differences in comparing when transactions are recognised in the financial statements and when they are recognised for tax purposes. Tax is recognised in profit and loss, unless attributable to other comprehensive income.Foreign exchangeForeign currency transactions are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction or at an average rate where this approximates the actual rate at the date of the transaction. At the end of each reporting period monetary items denominated in foreign currencies are translated at the appropriate closing rate at that date. Foreign exchange gains and losses are presented in other income within profit and loss.Pension costsThe company operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from the company in independently administered funds. Pension payments are recognised as an expense in profit and loss in the period in which they fall due.Short-term employee benefitsA liability for all material employee pay and benefits is recognised in profit and loss including accrued employee holiday pay entitlements at the year end that are paid in the following year.Government grantsGovernment grants are recognised in income when they are received or receivable. Where performance-related conditions are imposed, grants are recognised in income as the conditions are met.

ADZZ LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 10 9

ADZZ LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Intangible Assets

Total
Cost £
At 01 July 2022 45,538
Additions 15,402
At 30 June 2023 60,940
Amortisation
At 01 July 2022 13,173
Charge for year 5,030
At 30 June 2023 18,203
Net book value
At 30 June 2023 42,737
At 30 June 2022 32,365

ADZZ LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Tangible Assets

Total
Cost £
At 01 July 2022 993,039
Additions 1,192,580
At 30 June 2023 2,185,619
Depreciation
At 01 July 2022 238,364
Charge for year 161,162
At 30 June 2023 399,526
Net book value
At 30 June 2023 1,786,093
At 30 June 2022 754,675

ADZZ LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Debtors

2023 2022
££
Debtors due after more than one year: 221,655 187,652