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Company Registration No. 01069153 (England and Wales)
Adelco Screen Process Limited Unaudited accounts for the year ended 31 August 2023
Adelco Screen Process Limited Unaudited accounts Contents
Page
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Adelco Screen Process Limited Company Information for the year ended 31 August 2023
Directors
Luke Smith Daniel Smith
Company Number
01069153 (England and Wales)
Registered Office
Highview High Street Bordon GU35 0AX United Kingdom
Accountants
Leap Accounts & Outsourcing Limited Office 7 35-37 Ludgate Hill London EC4M 7JN
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Adelco Screen Process Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
55,478 
67,623 
Current assets
Inventories
256,582 
191,303 
Debtors
212,120 
600,573 
Cash at bank and in hand
1,219,058 
1,056,853 
1,687,760 
1,848,729 
Creditors: amounts falling due within one year
(731,534)
(830,438)
Net current assets
956,226 
1,018,291 
Net assets
1,011,704 
1,085,914 
Capital and reserves
Called up share capital
725 
725 
Capital redemption reserve
(1,783,332)
(1,783,332)
Profit and loss account
2,794,311 
2,868,521 
Shareholders' funds
1,011,704 
1,085,914 
For the year ending 31 August 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by
Luke Smith Director Company Registration No. 01069153
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Adelco Screen Process Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Adelco Screen Process Limited is a private company, limited by shares, registered in England and Wales, registration number 01069153. The registered office is Highview, High Street, Bordon, GU35 0AX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the life of the lease (0 years remaining)
Plant & machinery
15% on a reducing balance basis
Motor vehicles
25% on a reducing balance basis
Fixtures & fittings
15% on a reducing balance basis
Computer equipment
25% on a reducing balance basis
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign exchange
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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Adelco Screen Process Limited Notes to the Accounts for the year ended 31 August 2023
Tax
The tax expense for the period comprises current and deferred 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. Deferred income 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Restatement of Prior Year Balance
A fixed asset with a written down value of £254,380.00 had been reported in the prior year statutory accounts that had previously been disposed of by the entity. As a result, prior year figures have been restated to reflect this disposal.
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Adelco Screen Process Limited Notes to the Accounts for the year ended 31 August 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 September 2022
41,840 
131,190 
38,656 
20,645 
43,202 
275,533 
At 31 August 2023
41,840 
131,190 
38,656 
20,645 
43,202 
275,533 
Depreciation
At 1 September 2022
41,840 
89,143 
24,888 
20,645 
31,394 
207,910 
Charge for the year
- 
7,103 
3,001 
- 
2,041 
12,145 
At 31 August 2023
41,840 
96,246 
27,889 
20,645 
33,435 
220,055 
Net book value
At 31 August 2023
- 
34,944 
10,767 
- 
9,767 
55,478 
At 31 August 2022
- 
42,047 
13,768 
- 
11,808 
67,623 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
207,833 
596,358 
Other debtors
4,287 
4,215 
212,120 
600,573 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
5,624 
- 
Trade creditors
691,814 
887,943 
Taxes and social security
9,963 
(123,710)
Other creditors
24,133 
28,268 
Accruals
- 
37,937 
731,534 
830,438 
7
Average number of employees
During the year the average number of employees was 12 (2022: 15).
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