Company Registration No. 03853297 (England and Wales)
A D S DESIGN & BRAND DEVELOPMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
A D S DESIGN & BRAND DEVELOPMENT LIMITED
COMPANY INFORMATION
Directors
Mr S M Bradbury
Mrs K E Bradbury
Mr A G Bawdon
Secretary
Mrs K E Bradbury
Company number
03853297
Registered office
King John's Gallery
King John's Island
Mythe Road
Tewkesbury
Gloucestershire
GL20 6EB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
PO Box 11
128 High Street
Cheltenham
Gloucestershire
GL50 1EL
A D S DESIGN & BRAND DEVELOPMENT LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
A D S DESIGN & BRAND DEVELOPMENT LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A D S DESIGN & BRAND DEVELOPMENT LIMITED FOR THE YEAR ENDED 31 JULY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A D S Design & Brand Development Limited for the year ended 31 July 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A D S Design & Brand Development Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A D S Design & Brand Development Limited and state those matters that we have agreed to state to the Board of Directors of A D S Design & Brand Development Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A D S Design & Brand Development Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that A D S Design & Brand Development Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A D S Design & Brand Development Limited. You consider that A D S Design & Brand Development Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A D S Design & Brand Development Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
23 October 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
A D S DESIGN & BRAND DEVELOPMENT LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,532
12,611
Current assets
Stocks
20,764
14,521
Debtors
5
424,599
373,069
Cash at bank and in hand
3,442
95,661
448,805
483,251
Creditors: amounts falling due within one year
6
(384,766)
(409,298)
Net current assets
64,039
73,953
Total assets less current liabilities
74,571
86,564
Creditors: amounts falling due after more than one year
7
(33,356)
(51,515)
Provisions for liabilities
9
(2,001)
(2,253)
Net assets
39,214
32,796
Capital and reserves
Called up share capital
10
1,100
1,100
Profit and loss reserves
38,114
31,696
Total equity
39,214
32,796

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

A D S DESIGN & BRAND DEVELOPMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2023
31 July 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 23 October 2023 and are signed on its behalf by:
Mr S M Bradbury
Mr A G Bawdon
Director
Director
Company Registration No. 03853297
A D S DESIGN & BRAND DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
1
Accounting policies
Company information

A D S Design & Brand Development Limited is a private company limited by shares incorporated in England and Wales. The registered office is King John's Gallery, King John's Island, Mythe Road, Tewkesbury, Gloucestershire, GL20 6EB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and has been fully amortised on a systematic basis over its expected life.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
2% on cost
Plant and machinery
25% on cost
Computer equipment
25% on cost
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

A D S DESIGN & BRAND DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

A D S DESIGN & BRAND DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 15 (2022 - 15).

3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
60,000
Amortisation and impairment
At 1 August 2022 and 31 July 2023
60,000
Carrying amount
At 31 July 2023
-
0
At 31 July 2022
-
0
4
Tangible fixed assets
Leasehold improvements
Plant and machinery
Computer equipment
Total
£
£
£
£
Cost
At 1 August 2022
11,682
25,255
82,160
119,097
Additions
-
0
-
0
774
774
At 31 July 2023
11,682
25,255
82,934
119,871
Depreciation and impairment
At 1 August 2022
1,923
25,255
79,308
106,486
Depreciation charged in the year
233
-
0
2,620
2,853
At 31 July 2023
2,156
25,255
81,928
109,339
Carrying amount
At 31 July 2023
9,526
-
0
1,006
10,532
At 31 July 2022
9,759
-
0
2,852
12,611
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
387,855
336,359
Other debtors
36,744
36,710
424,599
373,069
A D S DESIGN & BRAND DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
18,182
18,182
Trade creditors
26,628
31,896
Amounts owed to group undertakings
178,928
197,654
Taxation and social security
132,338
131,979
Other creditors
28,690
29,587
384,766
409,298
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
33,356
51,515
8
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
51,538
69,697
Bank loans are secured by way of a government-backed guarantee.
9
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
2,001
2,253
10
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
900 Ordinary A of £1 each
900
900
100 Ordinary B of £1 each
100
100
100 Ordinary C of £1 each
100
100
1,100
1,100
A D S DESIGN & BRAND DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 8 -
11
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12
Control

Ultimate parent company

The ultimate parent company is ADS Design and Brand Development Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr S M Bradbury by virtue of his controlling interest in the ultimate parent company.

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