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Company No: 09813218 (England and Wales)

ADA PUBLISHING LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

ADA PUBLISHING LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

ADA PUBLISHING LIMITED

BALANCE SHEET

As at 31 October 2023
ADA PUBLISHING LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 19,926 25,983
19,926 25,983
Current assets
Stocks 19,363 19,363
Cash at bank and in hand 3,129 169
22,492 19,532
Creditors: amounts falling due within one year 4 ( 152,403) ( 151,965)
Net current liabilities (129,911) (132,433)
Total assets less current liabilities (109,985) (106,450)
Net liabilities ( 109,985) ( 106,450)
Capital and reserves
Called-up share capital 5 2 2
Profit and loss account ( 109,987 ) ( 106,452 )
Total shareholders' deficit ( 109,985) ( 106,450)

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of ADA Publishing Limited (registered number: 09813218) were approved and authorised for issue by the Board of Directors on 02 March 2024. They were signed on its behalf by:

Mr A Hirshman
Director
ADA PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
ADA PUBLISHING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ADA Publishing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Unit 18, 23 Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom. The principal place of business is 1 Russell Court, St Andrew Street, Plymouth, PL1 2AX.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Development costs 5 years straight line
Trademarks, patents and licences 5 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Intangible assets

Goodwill Development costs Trademarks, patents
and licences
Total
£ £ £ £
Cost
At 01 November 2022 58,074 7,351 6,068 71,493
At 31 October 2023 58,074 7,351 6,068 71,493
Accumulated amortisation
At 01 November 2022 32,340 7,138 6,032 45,510
Charge for the financial year 5,808 213 36 6,057
At 31 October 2023 38,148 7,351 6,068 51,567
Net book value
At 31 October 2023 19,926 0 0 19,926
At 31 October 2022 25,734 213 36 25,983

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 1,043
Amounts owed to directors 151,242 149,866
Accruals 1,161 1,056
152,403 151,965

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary A share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
2 2