1 January 2023 false No description of principal activity Taxfiler 2024.1 10541355business:PrivateLimitedCompanyLtd2023-01-012023-12-31 105413552022-12-31 105413552023-01-012023-12-31 10541355business:AuditExemptWithAccountantsReport2023-01-012023-12-31 10541355business:AbridgedAccounts2023-01-012023-12-31 105413552023-12-31 105413552022-12-31 10541355core:WithinOneYear2023-12-31 10541355core:WithinOneYear2022-12-31 10541355core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 10541355core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 10541355core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 10541355core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 10541355core:PreviouslyStatedAmount2023-12-31 10541355core:PreviouslyStatedAmount2022-12-31 10541355business:SmallEntities2023-01-012023-12-31 10541355business:Director12023-01-012023-12-31 10541355countries:EnglandWales2023-01-012023-12-31 10541355business:RegisteredOffice2023-01-012023-12-31 10541355core:PlantMachinery2023-01-012023-12-31 10541355core:MotorVehicles2023-01-012023-12-31 10541355core:ComputerEquipment2023-01-012023-12-31 105413552022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. 10541355 (England and Wales)
ADS Property Renovation Ltd Unaudited accounts for the year ended 31 December 2023
ADS Property Renovation Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,591 
9,945 
Current assets
Inventories
- 
162,136 
Debtors
24 
504 
Cash at bank and in hand
105,743 
6,898 
105,767 
169,538 
Creditors: amounts falling due within one year
(27,796)
(110,457)
Net current assets
77,971 
59,081 
Total assets less current liabilities
85,562 
69,026 
Provisions for liabilities
Deferred tax
(1,442)
- 
Net assets
84,120 
69,026 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
84,118 
69,024 
Shareholders' funds
84,120 
69,026 
For the year ending 31 December 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 3 April 2024 and were signed on its behalf by
A Sheldon Director Company Registration No. 10541355
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ADS Property Renovation Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
ADS Property Renovation Ltd is a private company, limited by shares, registered in England and Wales, registration number 10541355. The registered office is 30 Wrekin Avenue, Newport, Shropshire, TF10 7HQ.
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:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
20% straight line
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.
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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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ADS Property Renovation Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
25,494 
Additions
261 
At 31 December 2023
25,755 
Depreciation
At 1 January 2023
15,549 
Charge for the year
2,615 
At 31 December 2023
18,164 
Net book value
At 31 December 2023
7,591 
At 31 December 2022
9,945 
5
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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