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COMPANY REGISTRATION NUMBER: 12283541
AD Management Advantage Limited
Filleted Unaudited Financial Statements
31 December 2023
AD Management Advantage Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
AD Management Advantage Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
5
779,039
519,000
Current assets
Debtors
6
40,639
10,000
Cash at bank and in hand
7,180
81,346
--------
--------
47,819
91,346
Creditors: amounts falling due within one year
7
635,000
551,261
---------
---------
Net current liabilities
587,181
459,915
---------
---------
Total assets less current liabilities
191,858
59,085
---------
--------
Capital and reserves
Called up share capital
600
600
Profit and loss account
191,258
58,485
---------
--------
Shareholders funds
191,858
59,085
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 July 2024 , and are signed on behalf of the board by:
Mr D C Jones
Mr A E Kennedy
Director
Director
Company registration number: 12283541
AD Management Advantage Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The number of persons employed by the company during the year, including the directors, amounted to 2 (2022: 2).
5. Investments
Other investments other than loans
£
Cost
At 1 January 2023
519,000
Additions
180,000
Disposals
( 52,500)
Revaluations
132,539
---------
At 31 December 2023
779,039
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
779,039
---------
At 31 December 2022
519,000
---------
6. Debtors
2023
2022
£
£
Other debtors
40,639
10,000
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
13,761
Other creditors
635,000
537,500
---------
---------
635,000
551,261
---------
---------
8. Directors' advances, credits and guarantees
At the balance sheet date a Director owed the company £30,623 (2022: £nil). During the year advances were made of £50,000 (2022: £nil) and repayments were made of £20,000 (2022: £nil). Interest was charged on the loan of £623 (2022: £nil).
9. Related party transactions
At the balance sheet date the company owed £635,000 (2022: £537,500) to a company under common control.