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REGISTERED NUMBER: 13484059 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023

FOR

ADVANCED DAMP LTD

ADVANCED DAMP LTD (REGISTERED NUMBER: 13484059)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ADVANCED DAMP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTOR: S C Fitzgerald





REGISTERED OFFICE: 63 New Road
Weston Turville
Aylesbury
Buckinghamshire
HP22 5QY





REGISTERED NUMBER: 13484059 (England and Wales)





ACCOUNTANTS: AKS Accounting Services Limited
Chartered Certified Accountants
39 St. Annes Road
London Colney
St Albans
Hertfordshire
AL2 1LQ

ADVANCED DAMP LTD (REGISTERED NUMBER: 13484059)

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,250 9,210

CURRENT ASSETS
Debtors 5 2,879 5,940
Cash at bank 155,460 63,768
158,339 69,708
CREDITORS
Amounts falling due within one year 6 59,539 37,498
NET CURRENT ASSETS 98,800 32,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,050

41,420

PROVISIONS FOR LIABILITIES 7 1,313 1,750
NET ASSETS 102,737 39,670

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 102,736 39,669
SHAREHOLDERS' FUNDS 102,737 39,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ADVANCED DAMP LTD (REGISTERED NUMBER: 13484059)

STATEMENT OF FINANCIAL POSITION - continued
30TH JUNE 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 director and authorised for issue on 1st March 2024 and were signed by:





S C Fitzgerald - Director


ADVANCED DAMP LTD (REGISTERED NUMBER: 13484059)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023


1. STATUTORY INFORMATION

Advanced Damp 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.

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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery - 50% on cost
Fixtures and fittings - 50% on cost
Motor van - 25% on cost
Computer - 50% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

ADVANCED DAMP LTD (REGISTERED NUMBER: 13484059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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 statement of financial position date.


ADVANCED DAMP LTD (REGISTERED NUMBER: 13484059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Motor van Computer Totals
£    £    £    £    £   
COST
At 1st July 2022
and 30th June 2023 1,250 820 10,500 600 13,170
DEPRECIATION
At 1st July 2022 625 410 2,625 300 3,960
Charge for year 625 410 2,625 300 3,960
At 30th June 2023 1,250 820 5,250 600 7,920
NET BOOK VALUE
At 30th June 2023 - - 5,250 - 5,250
At 30th June 2022 625 410 7,875 300 9,210

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,879 5,940

ADVANCED DAMP LTD (REGISTERED NUMBER: 13484059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 58,127 30,986
Other creditors 1,412 6,512
59,539 37,498

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,313 1,750

Deferred
tax
£   
Balance at 1st July 2022 1,750
Provided during year (437 )
Balance at 30th June 2023 1,313

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S C Fitzgerald.