Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312No description of principal activity2023-02-01false2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03151745 2023-02-01 2024-01-31 03151745 2022-02-01 2023-01-31 03151745 2024-01-31 03151745 2023-01-31 03151745 c:Director1 2023-02-01 2024-01-31 03151745 d:PlantMachinery 2023-02-01 2024-01-31 03151745 d:PlantMachinery 2024-01-31 03151745 d:PlantMachinery 2023-01-31 03151745 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03151745 d:CurrentFinancialInstruments 2024-01-31 03151745 d:CurrentFinancialInstruments 2023-01-31 03151745 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 03151745 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 03151745 d:ShareCapital 2024-01-31 03151745 d:ShareCapital 2023-01-31 03151745 d:RetainedEarningsAccumulatedLosses 2024-01-31 03151745 d:RetainedEarningsAccumulatedLosses 2023-01-31 03151745 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 03151745 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 03151745 c:FRS102 2023-02-01 2024-01-31 03151745 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 03151745 c:FullAccounts 2023-02-01 2024-01-31 03151745 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03151745 6 2023-02-01 2024-01-31 03151745 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 03151745









ADMIRAL CORPORATION GB LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
ADMIRAL CORPORATION GB LIMITED
REGISTERED NUMBER: 03151745

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
                                                                Note
£
£

Fixed assets
  

Tangible assets
 4 
222,324
312,582

Investments
 5 
327,825
282,182

  
550,149
594,764

Current assets
  

Debtors: amounts falling due within one year
 6 
833,671
1,044,247

Cash at bank and in hand
  
29,174
137,744

  
862,845
1,181,991

Creditors: amounts falling due within one year
 7 
(1,265,949)
(1,295,002)

Net current liabilities
  
 
 
(403,104)
 
 
(113,011)

Total assets less current liabilities
  
147,045
481,753

Provisions for liabilities
  

Deferred tax
 8 
(55,581)
(78,145)

  
 
 
(55,581)
 
 
(78,145)

Net assets
  
91,464
403,608


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
91,364
403,508

  
91,464
403,608


Page 1

 
ADMIRAL CORPORATION GB LIMITED
REGISTERED NUMBER: 03151745
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 October 2024.




P J O'Connor
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ADMIRAL CORPORATION GB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Admiral Corporation GB Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Farley House, Kinvara Business Park, 22-42 Freshwater Road, Dagenham, Essex, RM8 1RY.
The company's principal activity is that of equipment rental.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
ADMIRAL CORPORATION GB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments are measured at cost less accumulated impairment.  

Page 4

 
ADMIRAL CORPORATION GB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
ADMIRAL CORPORATION GB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 February 2023
777,616


Disposals
(142,740)



At 31 January 2024

634,876



Depreciation


At 1 February 2023
465,034


Charge for the year on owned assets
74,108


Disposals
(126,590)



At 31 January 2024

412,552



Net book value



At 31 January 2024
222,324



At 31 January 2023
312,582

Page 6

 
ADMIRAL CORPORATION GB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 February 2023
282,182


Additions
327,825


Disposals
(282,182)



At 31 January 2024
327,825





6.


Debtors

2024
2023
£
£


Other debtors
833,671
1,044,247



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
693,616

Other taxation and social security
30,906
126,493

Other creditors
1,231,243
471,243

Accruals and deferred income
3,800
3,650

1,265,949
1,295,002


Page 7

 
ADMIRAL CORPORATION GB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Deferred taxation




2024


£






At beginning of year
(78,145)


Utilised in year
22,564



At end of year
(55,581)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(55,581)
(78,145)

 
Page 8