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REGISTERED NUMBER: 06794779 (England and Wales)




Unaudited Financial Statements

for the Year Ended 31 March 2023

for

ADS GROUNDWORKS LIMITED

ADS GROUNDWORKS LIMITED (REGISTERED NUMBER: 06794779)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADS GROUNDWORKS LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A. Smith
S. Smith
D. G. Smith





SECRETARY: A. Smith





REGISTERED OFFICE: Victoria House
50 Alexandra Street
Southend-on-Sea
Essex
SS1 1BN





REGISTERED NUMBER: 06794779 (England and Wales)





ACCOUNTANTS: Barnard Mountstephens Childs Limited
Chartered Certified Accountants
Victoria House
50 Alexandra Street
Southend-on-Sea
Essex
SS1 1BN

ADS GROUNDWORKS LIMITED (REGISTERED NUMBER: 06794779)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 750,548 705,836
750,548 705,836

CURRENT ASSETS
Stocks 1,167,121 1,452,649
Debtors 6 949,566 730,605
Cash at bank 997,144 887,020
3,113,831 3,070,274
CREDITORS
Amounts falling due within one year 7 1,418,196 1,764,161
NET CURRENT ASSETS 1,695,635 1,306,113
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,446,183

2,011,949

PROVISIONS FOR LIABILITIES 129,900 94,630
NET ASSETS 2,316,283 1,917,319

CAPITAL AND RESERVES
Called up share capital 9 3 3
Retained earnings 2,316,280 1,917,316
SHAREHOLDERS' FUNDS 2,316,283 1,917,319

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

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

ADS GROUNDWORKS LIMITED (REGISTERED NUMBER: 06794779)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:





A. Smith - Director


ADS GROUNDWORKS LIMITED (REGISTERED NUMBER: 06794779)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

ADS Groundworks Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 Income Statement, 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.

ADS GROUNDWORKS LIMITED (REGISTERED NUMBER: 06794779)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 28,500
AMORTISATION
At 1 April 2022
and 31 March 2023 28,500
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Office Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 146,242 1,075,788 9,003 155,148 1,386,181
Additions - 210,920 1,899 26,988 239,807
Disposals - (98,549 ) (2,432 ) (11,150 ) (112,131 )
At 31 March 2023 146,242 1,188,159 8,470 170,986 1,513,857
DEPRECIATION
At 1 April 2022 11,624 592,811 4,430 71,480 680,345
Charge for year 3,491 136,003 835 25,372 165,701
Eliminated on disposal - (70,150 ) (1,862 ) (10,725 ) (82,737 )
At 31 March 2023 15,115 658,664 3,403 86,127 763,309
NET BOOK VALUE
At 31 March 2023 131,127 529,495 5,067 84,859 750,548
At 31 March 2022 134,618 482,977 4,573 83,668 705,836

ADS GROUNDWORKS LIMITED (REGISTERED NUMBER: 06794779)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 906,746 628,928
VAT 37,857 96,374
Prepayments 4,963 5,303
949,566 730,605

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Hire purchase contracts 14,866 26,224
Trade creditors 753,216 1,064,441
Corporation tax 147,752 105,114
Social security and other taxes 25,495 28,709
Other creditors 75,000 75,000
Directors' current accounts 27,765 25,403
Accrued expenses 374,102 439,270
1,418,196 1,764,161

8. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Hire purchase contracts 14,866 26,224

The hire purchase liabilities are secured against the relevant assets purchased.

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
300 Ordinary shares 1p 3 3