23 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 279,335 237,455 27,934 265,389 13,946 41,880 xbrli:pure xbrli:shares iso4217:GBP 09103118 2023-04-01 2024-03-31 09103118 2024-03-31 09103118 2023-03-31 09103118 2022-04-01 2023-03-31 09103118 2023-03-31 09103118 2022-03-31 09103118 core:PlantMachinery 2023-04-01 2024-03-31 09103118 core:FurnitureFittings 2023-04-01 2024-03-31 09103118 core:MotorVehicles 2023-04-01 2024-03-31 09103118 core:NetGoodwill 2023-04-01 2024-03-31 09103118 bus:Director2 2023-04-01 2024-03-31 09103118 bus:Director3 2023-04-01 2024-03-31 09103118 core:NetGoodwill 2023-03-31 09103118 core:NetGoodwill 2024-03-31 09103118 core:PlantMachinery 2023-03-31 09103118 core:FurnitureFittings 2023-03-31 09103118 core:MotorVehicles 2023-03-31 09103118 core:PlantMachinery 2024-03-31 09103118 core:FurnitureFittings 2024-03-31 09103118 core:MotorVehicles 2024-03-31 09103118 core:WithinOneYear 2024-03-31 09103118 core:WithinOneYear 2023-03-31 09103118 core:AfterOneYear 2023-03-31 09103118 core:ShareCapital 2024-03-31 09103118 core:ShareCapital 2023-03-31 09103118 core:RetainedEarningsAccumulatedLosses 2024-03-31 09103118 core:RetainedEarningsAccumulatedLosses 2023-03-31 09103118 core:BetweenOneFiveYears 2024-03-31 09103118 core:BetweenOneFiveYears 2023-03-31 09103118 core:MoreThanFiveYears 2024-03-31 09103118 core:MoreThanFiveYears 2023-03-31 09103118 core:NetGoodwill 2023-03-31 09103118 core:PlantMachinery 2023-03-31 09103118 core:FurnitureFittings 2023-03-31 09103118 core:MotorVehicles 2023-03-31 09103118 bus:Director2 2023-03-31 09103118 bus:Director2 2024-03-31 09103118 bus:Director3 2023-03-31 09103118 bus:Director3 2024-03-31 09103118 bus:Director2 2022-03-31 09103118 bus:Director2 2023-03-31 09103118 bus:Director3 2022-03-31 09103118 bus:Director3 2023-03-31 09103118 bus:Director2 2022-04-01 2023-03-31 09103118 bus:Director3 2022-04-01 2023-03-31 09103118 bus:SmallEntities 2023-04-01 2024-03-31 09103118 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09103118 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09103118 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09103118 bus:FullAccounts 2023-04-01 2024-03-31 09103118 core:OfficeEquipment 2023-04-01 2024-03-31 09103118 core:OfficeEquipment 2023-03-31 09103118 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 09103118
ADIE PEPPERDINE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
ADIE PEPPERDINE LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
FIXED ASSETS
Intangible assets
5
13,946
41,880
Tangible assets
6
125,972
107,329
----------
----------
139,918
149,209
CURRENT ASSETS
Debtors
7
470,227
776,981
Cash at bank and in hand
791,196
594,939
-------------
-------------
1,261,423
1,371,920
CREDITORS: amounts falling due within one year
8
236,401
427,225
-------------
-------------
NET CURRENT ASSETS
1,025,022
944,695
-------------
-------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,164,940
1,093,904
CREDITORS: amounts falling due after more than one year
9
19,128
PROVISIONS
30,732
20,855
-------------
-------------
NET ASSETS
1,134,208
1,053,921
-------------
-------------
ADIE PEPPERDINE LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
2024
2023
Note
£
£
CAPITAL AND RESERVES
Called up share capital
102
102
Profit and loss account
1,134,106
1,053,819
-------------
-------------
SHAREHOLDERS FUNDS
1,134,208
1,053,921
-------------
-------------
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 March 2024 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 2 September 2024 , and are signed on behalf of the board by:
M V Adie
L M Pepperdine
Director
Director
Company registration number: 09103118
ADIE PEPPERDINE LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 The Landings, Burton Waters, Lincoln, LN1 2TU.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2023: 23 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
279,335
----------
Amortisation
At 1 April 2023
237,455
Charge for the year
27,934
----------
At 31 March 2024
265,389
----------
Carrying amount
At 31 March 2024
13,946
----------
At 31 March 2023
41,880
----------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
17,489
68,299
51,950
96,144
233,882
Additions
61,070
3,824
64,894
Disposals
( 73,802)
( 73,802)
---------
---------
----------
---------
----------
At 31 March 2024
17,489
68,299
113,020
26,166
224,974
---------
---------
----------
---------
----------
Depreciation
At 1 April 2023
10,107
45,315
5,373
65,758
126,553
Charge for the year
1,846
5,746
13,553
5,433
26,578
Disposals
( 54,129)
( 54,129)
---------
---------
----------
---------
----------
At 31 March 2024
11,953
51,061
18,926
17,062
99,002
---------
---------
----------
---------
----------
Carrying amount
At 31 March 2024
5,536
17,238
94,094
9,104
125,972
---------
---------
----------
---------
----------
At 31 March 2023
7,382
22,984
46,577
30,386
107,329
---------
---------
----------
---------
----------
7. Debtors
2024
2023
£
£
Trade debtors
307,320
389,267
Other debtors
162,907
387,714
----------
----------
470,227
776,981
----------
----------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
16,292
34,172
Corporation tax
121,444
113,903
Social security and other taxes
87,151
95,933
Other creditors
11,514
183,217
----------
----------
236,401
427,225
----------
----------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
19,128
----
---------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
22,000
22,000
Later than 1 year and not later than 5 years
88,000
88,000
Later than 5 years
34,800
56,800
----------
----------
144,800
166,800
----------
----------
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
M V Adie
128,262
113,703
( 222,390)
19,575
L M Pepperdine
117,038
104,887
( 222,390)
( 465)
----------
----------
----------
---------
245,300
218,590
( 444,780)
19,110
----------
----------
----------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
M V Adie
24,586
208,066
( 104,390)
128,262
L M Pepperdine
21,326
200,102
( 104,390)
117,038
---------
----------
----------
----------
45,912
408,168
( 208,780)
245,300
---------
----------
----------
----------
12. Related party transactions
At the start of the financial year a balance of £150,000 was owing to family members of two of the directors. These liabilities were settled in full during the year. No other transactions with related parties subsisted during the year, such as are required to be disclosed under FRS102 (Section 1A).
13. Controlling party
The company is under the control of M V Adie and L M Pepperdine .