BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is the sale of chemicals for the construction industry. 18 September 2024 NI637428 2023-12-31 NI637428 2022-12-31 NI637428 2021-12-31 NI637428 2023-01-01 2023-12-31 NI637428 2022-01-01 2022-12-31 NI637428 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI637428 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI637428 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI637428 uk-bus:FullAccounts 2023-01-01 2023-12-31 NI637428 uk-bus:Director1 2023-01-01 2023-12-31 NI637428 uk-bus:Director2 2023-01-01 2023-12-31 NI637428 uk-bus:Director3 2023-01-01 2023-12-31 NI637428 uk-bus:Director4 2023-01-01 2023-12-31 NI637428 uk-bus:RegisteredOffice 2023-01-01 2023-12-31 NI637428 uk-bus:Agent1 2023-01-01 2023-12-31 NI637428 uk-core:ShareCapital 2023-12-31 NI637428 uk-core:ShareCapital 2022-12-31 NI637428 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI637428 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI637428 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI637428 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI637428 uk-core:RestatedAmount uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI637428 uk-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 NI637428 uk-bus:FRS102 2023-01-01 2023-12-31 NI637428 uk-core:PlantMachinery 2023-01-01 2023-12-31 NI637428 uk-core:MotorVehicles 2023-01-01 2023-12-31 NI637428 uk-core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI637428 uk-bus:Audited 2023-01-01 2023-12-31 NI637428 uk-core:CurrentFinancialInstruments 2023-12-31 NI637428 uk-core:CurrentFinancialInstruments 2022-12-31 NI637428 uk-core:WithinOneYear 2023-12-31 NI637428 uk-core:WithinOneYear 2022-12-31 NI637428 uk-core:EmployeeBenefits 2022-12-31 NI637428 uk-core:EmployeeBenefits 2023-01-01 2023-12-31 NI637428 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 NI637428 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 NI637428 uk-core:OtherDeferredTax 2023-12-31 NI637428 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 NI637428 uk-core:EmployeeBenefits 2023-12-31 NI637428 uk-core:ParentEntities 2023-01-01 2023-12-31 NI637428 uk-countries:Belgium 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
Company Registration Number: NI637428
 
 
Adcrete Limited
 
Financial Statements
 
for the financial year ended 31 December 2023
Adcrete Limited
Directors and Other Information

 
Directors S Wilson
J Mooney
G Vaughan
N Jones
 
 
Company Registration Number NI637428
 
 
Registered Office 31 Enterprise House, Lisburn Enterprise Centre
6 Enterprise Crescent
Ballinderry Road
Lisburn
Co. Antrim
BT28 2BP
 
 
Independent Auditors HCA Chartered Accountants Ltd
12 Cromac Place
Belfast
Co. Antrim
BT7 2JB
Northern Ireland
 
 
Bankers Bank of Ireland
  1 Donegal Square South
  Belfast
  Co. Antrim
  BT1 5LR
  Northern Ireland
 
   
Solicitors Gordons Solicitors
  1 New Augustus Street
  Bradford
  BD1 5LL
  England



Adcrete Limited
Company Registration Number: NI637428
Statement of Financial Position
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 44,671 9,907
───────── ─────────
 
Current Assets
Stocks 6 233,472 310,873
Debtors 7 553,920 602,607
Cash and cash equivalents 442,622 334,173
───────── ─────────
1,230,014 1,247,653
───────── ─────────
Creditors: amounts falling due within one year 8 (568,278) (672,475)
───────── ─────────
Net Current Assets 661,736 575,178
───────── ─────────
Total Assets less Current Liabilities 706,407 585,085
 
Provisions for liabilities 10 2,722 7,705
───────── ─────────
Net Assets 709,129 592,790
═════════ ═════════
 
Capital and Reserves
Called up share capital 103 103
Retained earnings 709,026 592,687
───────── ─────────
Equity attributable to owners of the company 709,129 592,790
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
Approved by the Board and authorised for issue on 18 September 2024 and signed on its behalf by
           
           
________________________________          
S Wilson          
Director          
           



Adcrete Limited
Statement of Changes in Equity
as at 31 December 2023

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 January 2022 103 443,523 443,626
───────── ───────── ─────────
Profit for the financial year - 298,003 298,003
───────── ───────── ─────────
Payment of dividends - (148,839) (148,839)
  ───────── ───────── ─────────
At 31 December 2022 103 592,687 592,790
  ───────── ───────── ─────────
Profit for the financial year - 296,375 296,375
  ───────── ───────── ─────────
Payment of dividends - (180,036) (180,036)
  ───────── ───────── ─────────
At 31 December 2023 103 709,026 709,129
  ═════════ ═════════ ═════════



Adcrete Limited
Notes to the Financial Statements
for the financial year ended 31 December 2023

   
1. General Information
 
Adcrete Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI637428. The registered office of the company is 31 Enterprise House, Lisburn Enterprise Centre, 6 Enterprise Crescent, Ballinderry Road, Lisburn, Co. Antrim, BT28 2BP. The principal activity of the company is the sale of chemicals for the construction industry. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 33.3% Straight line
  Motor vehicles - 25% Straight line
  Computers - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing
Rentals payable under operating leases are dealt with in the Income Statement as incurred over the period of the rental agreement.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
 
The financial statements were audited by HCA Chartered Accountants Ltd.
The Auditor's Report was signed by Mr Brian Hegarty (Senior Statutory Auditor) for and on behalf of HCA Chartered Accountants Ltd on 18th September 2024.
 
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 5, (2022 - 5).
 
  2023 2022
  Number Number
 
Directors 4 4
Employees 1 1
  ───────── ─────────
  5 5
  ═════════ ═════════
           
5. Tangible assets
  Plant and Motor Computers Total
  machinery vehicles    
         
  £ £ £ £
Cost
At 1 January 2023 17,682 33,184 3,199 54,065
Additions 5,725 49,123 - 54,848
Disposals - (33,184) - (33,184)
  ───────── ───────── ───────── ─────────
At 31 December 2023 23,407 49,123 3,199 75,729
  ───────── ───────── ───────── ─────────
Depreciation
At 1 January 2023 7,777 33,183 3,198 44,158
Charge for the financial year 7,802 12,281 - 20,083
On disposals - (33,183) - (33,183)
  ───────── ───────── ───────── ─────────
At 31 December 2023 15,579 12,281 3,198 31,058
  ───────── ───────── ───────── ─────────
Net book value
At 31 December 2023 7,828 36,842 1 44,671
  ═════════ ═════════ ═════════ ═════════
At 31 December 2022 9,905 1 1 9,907
  ═════════ ═════════ ═════════ ═════════
       
6. Stocks 2023 2022
  £ £
 
Raw materials 233,472 310,873
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors 2023 2022
  £ £
 
Trade debtors 542,629 588,831
Other debtors 4,896 60
Taxation  (Note 9) - 9,245
Prepayments and accrued income 6,395 4,471
  ───────── ─────────
  553,920 602,607
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due within one year £ £
 
Trade creditors 81,388 96,245
Amounts owed to group undertakings 407,212 463,751
Taxation  (Note 9) 19,438 41,488
Other creditors 2,110 24,225
Accruals 58,130 46,766
  ───────── ─────────
  568,278 672,475
  ═════════ ═════════
 
Bank of Ireland holds fixed and floating charge security over the assets of the company.
       
9. Taxation 2023 2022
  £ £
 
Debtors:
VAT - 9,245
  ═════════ ═════════
Creditors:
VAT 509 -
Corporation tax 12,592 36,969
PAYE / NI 6,337 4,519
  ───────── ─────────
  19,438 41,488
  ═════════ ═════════
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start (7,705) (7,705) (4,062)
Charged to profit and loss 4,983 4,983 (3,643)
  ───────── ───────── ─────────
At financial year end (2,722) (2,722) (7,705)
  ═════════ ═════════ ═════════
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
           
12. Related party transactions
 
Transactions with group companies during the year included the following:

Christeyns UK Ltd is the parent company. At the reporting date, Adcrete Limited owed an amount of £392,062 (2022: £449,159). During the year, the company made sales to Christeyns UK Ltd totalling £nil, (2022: £nil), and purchases/recharges from Chrsteyns UK Ltd totalling £1,648,901 (2022:£1,239,946).

Christeyns Technologies (Ireland) Limited is a company within the same group, registered in Ireland. At the reporting date, Adcrete Limited owed an amount of £15,150 (2022: £ 14,592). During the year, the company made purchases/recharges from Christeyns Technologies (Ireland) Limited totalling £137,493 (2022:£104,306).
   
13. Parent company
 
The company regards Christeyns UK Ltd as its immediate parent company.
 
The ultimate parent of the largest group in which the results are consolidated is Algimo NV. This information is included in the consolidated financial statements of Algimo NV as at 31 December 2023 and these financial statements may be obtained from Algimo NV, Coupure 10, 9000, Gent, Belgium.
Algimo NV is a company registered in Belgium.
 
   
14. Controlling interest
 
The ultimate controlling party of the company is Mr Alain Bostoen, the majority shareholder in Algimo NV.
   
15. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the reporting date.
       
16. Pension commitments
 
The company operates a defined contribution pension scheme. The pension cost charge represents contributions payable by the company to the fund and amounted to £14,742 (2022 - £13,184).
       
17. Share Capital
 
The share capital of the company was comprised of 100 Ordinary Shares of £1 each and 3 A Ordinary Shares of £1 each.
 
  2023 2022
  £ £
 
Ordinary Shares of £1 each 100 100
A Ordinary Shares of £1 each 3 3
  ───────── ─────────
  103 103
  ═════════ ═════════