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REGISTERED NUMBER: 04132915 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31st December 2023

for

ADS Precision Limited

ADS Precision Limited (Registered number: 04132915)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

ADS Precision Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: A D Senior
N F Senior





SECRETARY: N F Senior





REGISTERED OFFICE: Unit 1, Aspen Court
Centurian Business Park
Bessemer Way
Rotherham
South Yorkshire
S60 1FB





REGISTERED NUMBER: 04132915 (England and Wales)





ACCOUNTANTS: Hewson & Howson
8 Shepcote Office Village
Shepcote Lane
Sheffield
South Yorkshire
S9 1TG

ADS Precision Limited (Registered number: 04132915)

Balance Sheet
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 279,309 160,778

CURRENT ASSETS
Stocks 638,460 682,242
Debtors 5 726,414 688,931
Cash at bank 160,116 79,771
1,524,990 1,450,944
CREDITORS
Amounts falling due within one year 6 785,243 692,011
NET CURRENT ASSETS 739,747 758,933
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,019,056

919,711

CREDITORS
Amounts falling due after more than one
year

7

(143,225

)

(88,973

)

PROVISIONS FOR LIABILITIES (37,442 ) (26,560 )

ACCRUALS AND DEFERRED INCOME (35,561 ) (36,672 )
NET ASSETS 802,828 767,506

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 802,728 767,406
802,828 767,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ADS Precision Limited (Registered number: 04132915)

Balance Sheet - continued
31st December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th July 2024 and were signed on its behalf by:





N F Senior - Director


ADS Precision Limited (Registered number: 04132915)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

ADS Precision Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

ADS Precision Limited (Registered number: 04132915)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Currency presentation
The financial statements are presented in Sterling (£) which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial Instruments.
Financial Instruments are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Government grants
Grants received from Government are recorded in the accounting period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

ADS Precision Limited (Registered number: 04132915)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st January 2023 247,394 73,868 80,626 401,888
Additions 66,964 931 87,676 155,571
At 31st December 2023 314,358 74,799 168,302 557,459
DEPRECIATION
At 1st January 2023 133,929 56,997 50,184 241,110
Charge for year 15,423 4,466 17,151 37,040
At 31st December 2023 149,352 61,463 67,335 278,150
NET BOOK VALUE
At 31st December 2023 165,006 13,336 100,967 279,309
At 31st December 2022 113,465 16,871 30,442 160,778

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st January 2023
and 31st December 2023 109,597 10,348 73,131 193,076
DEPRECIATION
At 1st January 2023
and 31st December 2023 57,971 5,389 36,328 99,688
NET BOOK VALUE
At 31st December 2023 51,626 4,959 36,803 93,388
At 31st December 2022 51,626 4,959 36,803 93,388

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 225,953 443,108
Other debtors 500,461 245,823
726,414 688,931

ADS Precision Limited (Registered number: 04132915)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 33,330 33,333
Hire purchase contracts 32,864 27,024
Trade creditors 348,967 457,728
Taxation and social security 61,337 42,333
Other creditors 308,745 131,593
785,243 692,011

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 44,448 75,000
Hire purchase contracts 98,777 13,973
143,225 88,973

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 77,778 108,333
Hire purchase contracts 131,641 40,997
209,419 149,330

The bank loans and overdraft facility are secured over the assets of the company. Hire Purchase contract liabilities are secured over the assets to which they relate.

9. RESERVES
Retained
earnings
£   

At 1st January 2023 767,406
Profit for the year 40,722
Dividends (5,400 )
At 31st December 2023 802,728

ADS Precision Limited

Report of the Accountants to the Directors of
ADS Precision Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st December 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Hewson & Howson
8 Shepcote Office Village
Shepcote Lane
Sheffield
South Yorkshire
S9 1TG


8th July 2024