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REGISTERED NUMBER: 03245360 (England and Wales)















ADVANCED ADHESIVES LTD.

Unaudited Financial Statements For The Year Ended 31 December 2023






ADVANCED ADHESIVES LTD. (REGISTERED NUMBER: 03245360)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

ADVANCED ADHESIVES LTD.

Company Information
For The Year Ended 31 December 2023







DIRECTORS: Mrs J S Crozier
G C Crozier





SECRETARY: G C Crozier





REGISTERED OFFICE: Architectural House
Plummer Street
Newcastle Upon Tyne
NE4 7AB





REGISTERED NUMBER: 03245360 (England and Wales)





ACCOUNTANTS: Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD

ADVANCED ADHESIVES LTD. (REGISTERED NUMBER: 03245360)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 100,837 6,600
Tangible assets 5 213,357 202,305
314,194 208,905

CURRENT ASSETS
Stocks 382,000 115,040
Debtors 6 401,232 351,322
Cash at bank 633,554 621,071
1,416,786 1,087,433
CREDITORS
Amounts falling due within one year 7 268,905 190,573
NET CURRENT ASSETS 1,147,881 896,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,462,075

1,105,765

PROVISIONS FOR LIABILITIES 9 20,412 18,312
NET ASSETS 1,441,663 1,087,453

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,441,563 1,087,353
1,441,663 1,087,453

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.

ADVANCED ADHESIVES LTD. (REGISTERED NUMBER: 03245360)

Balance Sheet - 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 2 August 2024 and were signed on its behalf by:





G C Crozier - Director


ADVANCED ADHESIVES LTD. (REGISTERED NUMBER: 03245360)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Advanced Adhesives Ltd. 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.

Significant judgements
There were no judgements made that were significant enough to warrant disclosure.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stock consists of raw materials, part complete and finished goods.
The finished goods value is at raw material cost plus an additional amount to cover the direct cost of production. Net realisable value exceeds the value of the finished goods.
Cost is calculated on an actual basis 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 balance sheet date.


ADVANCED ADHESIVES LTD. (REGISTERED NUMBER: 03245360)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Significant estimates
There were no estimates made that were significant enough to warrant disclosure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 113,250
Additions 105,625
At 31 December 2023 218,875
AMORTISATION
At 1 January 2023 106,650
Charge for year 11,388
At 31 December 2023 118,038
NET BOOK VALUE
At 31 December 2023 100,837
At 31 December 2022 6,600

ADVANCED ADHESIVES LTD. (REGISTERED NUMBER: 03245360)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
leasehold Plant and and
prop erty machinery fittings
£    £    £   
COST
At 1 January 2023 58,226 259,790 58,372
Additions - 42,797 27,058
Disposals - - -
At 31 December 2023 58,226 302,587 85,430
DEPRECIATION
At 1 January 2023 - 163,756 38,502
Charge for year - 49,649 8,731
Eliminated on disposal - - -
At 31 December 2023 - 213,405 47,233
NET BOOK VALUE
At 31 December 2023 58,226 89,182 38,197
At 31 December 2022 58,226 96,034 19,870

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 19,999 35,705 432,092
Additions - 11,155 81,010
Disposals - (416 ) (416 )
At 31 December 2023 19,999 46,444 512,686
DEPRECIATION
At 1 January 2023 7,500 20,029 229,787
Charge for year 4,999 6,579 69,958
Eliminated on disposal - (416 ) (416 )
At 31 December 2023 12,499 26,192 299,329
NET BOOK VALUE
At 31 December 2023 7,500 20,252 213,357
At 31 December 2022 12,499 15,676 202,305

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 302,460 255,666
Other debtors 98,772 95,656
401,232 351,322

Other debtors include amounts owed by the Directors.

ADVANCED ADHESIVES LTD. (REGISTERED NUMBER: 03245360)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 71,787 73,252
Amounts owed to group undertakings - 93
Taxation and social security 121,748 73,695
Other creditors 75,370 43,533
268,905 190,573

Included in other creditors are amounts owed for VAT, this year they owed £42,900 (£28,592 - 2022).

8. FINANCIAL INSTRUMENTS

Debtors are shown at their impaired value (i.e. less doubtful debts) and trade creditors are at their carrying value.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 20,412 18,312

Deferred
tax
£   
Balance at 1 January 2023 18,312
Provided during year 2,100
Balance at 31 December 2023 20,412

10. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken that required disclosure under FRS 102 section 1A small entities.

ADVANCED ADHESIVES LTD.

Report of the Accountants to the Directors of
Advanced Adhesives Ltd.

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 31 December 2023 set out on pages three to ten 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.






Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD


5 August 2024