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REGISTERED NUMBER: 03211775 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ADEPT FACADES LIMITED

ADEPT FACADES LIMITED (REGISTERED NUMBER: 03211775)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ADEPT FACADES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr S T Jamison
Mr S C Carter





SECRETARY: Mrs L Coxon





REGISTERED OFFICE: The Old Coach House
Horse Fair
Rugeley
Staffordshire
WS15 2EL





REGISTERED NUMBER: 03211775 (England and Wales)





ACCOUNTANT: Wynniatt-Husey Ltd
Chartered Accountants
The Old Coach House
Horsefair
Rugeley
Staffordshire
WS15 2EL

ADEPT FACADES LIMITED (REGISTERED NUMBER: 03211775)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
62,737 Tangible assets 4 79,603
198,892 Investments 5 274,402
261,629 354,005

CURRENT ASSETS
174,617 Stocks 6 20,000
105,380 Debtors 7 56,074
256,314 Cash at bank 593,576
536,311 669,650
CREDITORS
476,213 Amounts falling due within one year 8 515,884
60,098 NET CURRENT ASSETS 153,766
321,727 TOTAL ASSETS LESS CURRENT
LIABILITIES

507,771

CREDITORS
(25,448 ) Amounts falling due after more than one
year

9

(19,459

)

(3,561 ) PROVISIONS FOR LIABILITIES 10 (3,561 )
292,718 NET ASSETS 484,751

CAPITAL AND RESERVES
2 Called up share capital 11 2
292,716 Retained earnings 484,749
292,718 SHAREHOLDERS' FUNDS 484,751

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

ADEPT FACADES LIMITED (REGISTERED NUMBER: 03211775)

STATEMENT OF FINANCIAL POSITION - continued
31 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 11 September 2024 and were signed on its behalf by:





Mr S T Jamison - Director


ADEPT FACADES LIMITED (REGISTERED NUMBER: 03211775)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Adept Facades 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

ADEPT FACADES LIMITED (REGISTERED NUMBER: 03211775)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
Totals machinery fittings vehicles equipment
£    £    £    £    £   
COST
At 1 January 2023 141,924 20,052 5,774 107,738 8,360
Additions 38,779 3,102 - 34,795 882
At 31 December 2023 180,703 23,154 5,774 142,533 9,242
DEPRECIATION
At 1 January 2023 79,187 15,775 4,706 52,526 6,180
Charge for year 21,913 2,402 836 17,235 1,440
At 31 December 2023 101,100 18,177 5,542 69,761 7,620
NET BOOK VALUE
At 31 December 2023 79,603 4,977 232 72,772 1,622
At 31 December 2022 62,737 4,277 1,068 55,212 2,180

ADEPT FACADES LIMITED (REGISTERED NUMBER: 03211775)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 107,738
Additions 34,795
At 31 December 2023 142,533
DEPRECIATION
At 1 January 2023 52,526
Charge for year 17,235
At 31 December 2023 69,761
NET BOOK VALUE
At 31 December 2023 72,772
At 31 December 2022 55,212

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 198,892
Additions 75,510
At 31 December 2023 274,402
NET BOOK VALUE
At 31 December 2023 274,402
At 31 December 2022 198,892

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks - 45,000
Work-in-progress 20,000 129,617
20,000 174,617

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 5,975 16,543
VAT 50,099 88,837
56,074 105,380

ADEPT FACADES LIMITED (REGISTERED NUMBER: 03211775)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 555 544
Other loans 120,959 181,988
Hire purchase contracts 5,990 5,990
Trade creditors 288,454 227,423
Tax 55,012 -
Social security and other taxes 12,057 5,784
Pension control 581 581
Other creditors - 48
Directors' current accounts 31,916 50,495
Accrued expenses 360 3,360
515,884 476,213

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 19,459 25,448

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 3,561 3,561

Deferred
tax
£   
Balance at 1 January 2023 3,561
Deferred tax movement
Balance at 31 December 2023 3,561

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2 Ordinary £1 2 2