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REGISTERED NUMBER: 03837714 (England and Wales)










ADAPTIVE CONTROL SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023






ADAPTIVE CONTROL SOLUTIONS LIMITED (REGISTERED NUMBER: 03837714)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 5


ADAPTIVE CONTROL SOLUTIONS LIMITED (REGISTERED NUMBER: 03837714)

BALANCE SHEET
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 160 240
Tangible assets 5 41,019 23,520
41,179 23,760

CURRENT ASSETS
Stocks 30,035 25,365
Debtors 6 255,683 376,707
Cash at bank and in hand 703,424 618,088
989,142 1,020,160
CREDITORS
Amounts falling due within one year 7 172,940 257,564
NET CURRENT ASSETS 816,202 762,596
TOTAL ASSETS LESS CURRENT LIABILITIES 857,381 786,356

CAPITAL AND RESERVES
Called up share capital 8 950 950
Capital redemption reserve 50 50
Retained earnings 856,381 785,356
SHAREHOLDERS' FUNDS 857,381 786,356

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

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

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 3rd March 2024 and were signed on its behalf by:



R M Armitage - Director


ADAPTIVE CONTROL SOLUTIONS LIMITED (REGISTERED NUMBER: 03837714)

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


1. STATUTORY INFORMATION

Adaptive Control Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03837714

Registered office: Units 5 & 7
Thackley Court Industrial Estate
Thackley Old Road
Shipley
BD18 1BW

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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight
line basis over its useful life. The period chosen for writing off goodwill is 10 years. Provision is made for any impairment.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant & Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Office Equipment 25% Straight Line

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


ADAPTIVE CONTROL SOLUTIONS LIMITED (REGISTERED NUMBER: 03837714)

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


2. ACCOUNTING POLICIES - continued
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.

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.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

ADAPTIVE CONTROL SOLUTIONS LIMITED (REGISTERED NUMBER: 03837714)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2022
and 31st October 2023 800
AMORTISATION
At 1st November 2022 560
Charge for year 80
At 31st October 2023 640
NET BOOK VALUE
At 31st October 2023 160
At 31st October 2022 240

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st November 2022 109,152
Additions 29,796
Disposals (18,500 )
At 31st October 2023 120,448
DEPRECIATION
At 1st November 2022 85,632
Charge for year 12,297
Eliminated on disposal (18,500 )
At 31st October 2023 79,429
NET BOOK VALUE
At 31st October 2023 41,019
At 31st October 2022 23,520

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 255,655 375,789
Other debtors 28 918
255,683 376,707

ADAPTIVE CONTROL SOLUTIONS LIMITED (REGISTERED NUMBER: 03837714)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 72,713 175,332
Taxation and social security 65,560 47,487
Other creditors 34,667 34,745
172,940 257,564

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
950 Ordinary shares £1 950 950