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Registration number: 03663532

AdBro Controls Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

AdBro Controls Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

AdBro Controls Limited

(Registration number: 03663532)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

7,095

4,533

Current assets

 

Stocks

-

15,785

Debtors

6

278,057

294,247

Cash at bank and in hand

 

176,594

359,173

 

454,651

669,205

Creditors: Amounts falling due within one year

7

(196,870)

(169,746)

Net current assets

 

257,781

499,459

Total assets less current liabilities

 

264,876

503,992

Creditors: Amounts falling due after more than one year

7

(76,165)

(132,582)

Net assets

 

188,711

371,410

Capital and reserves

 

Called up share capital

500

500

Other reserves

500

500

Retained earnings

187,711

370,410

Shareholders' funds

 

188,711

371,410

 

AdBro Controls Limited

(Registration number: 03663532)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 August 2024 and signed on its behalf by:
 

.........................................
P Admans
Director

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6 Red Shute Hill Industrial Estate
Red Shute Hill Hermitage
Thatcham
England
RG18 9QL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Government grants

Government grants are accounted for as revenue based grants under the accrual model in the period in which they are receivable.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

Fixtures and Fittings

25% Straight Line

Motor Vehicles

25% Straight Line

Office Equipment

25% Straight Line

Freehold Land and Buildings

2% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Other operating income

During the year, the company received grants of £500 (2022 £9,500).

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2022 - 19).

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

32,684

14,145

38,363

31,635

116,827

Additions

7,050

-

-

-

7,050

At 30 November 2023

39,734

14,145

38,363

31,635

123,877

Depreciation

At 1 December 2022

31,604

14,145

36,958

29,587

112,294

Charge for the year

1,846

-

594

2,048

4,488

At 30 November 2023

33,450

14,145

37,552

31,635

116,782

Carrying amount

At 30 November 2023

6,284

-

811

-

7,095

At 30 November 2022

1,080

-

1,405

2,048

4,533

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

179,641

265,130

Prepayments

19,920

16,240

Other debtors

78,496

12,877

 

278,057

294,247

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

48,698

48,698

Trade creditors

 

46,106

43,361

Taxation and social security

 

94,228

63,321

Other creditors

 

7,838

14,366

 

196,870

169,746

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

76,165

132,582

 

AdBro Controls Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

48,698

48,698

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

76,165

132,582

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £501,457 (2022 - £184,400).