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Registered number: 03834409
Adtec Software Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 03834409
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 10,273 19,194
10,273 19,194
CURRENT ASSETS
Debtors 6 69,337 74,223
Cash at bank and in hand 179,168 192,134
248,505 266,357
Creditors: Amounts Falling Due Within One Year 7 (97,657 ) (182,896 )
NET CURRENT ASSETS (LIABILITIES) 150,848 83,461
TOTAL ASSETS LESS CURRENT LIABILITIES 161,121 102,655
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,538 ) (4,413 )
NET ASSETS 158,583 98,242
CAPITAL AND RESERVES
Called up share capital 100 100
Income Statement 158,483 98,142
SHAREHOLDERS' FUNDS 158,583 98,242
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr G Adkin
Director
18/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Adtec Software Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03834409 . The registered office is First Floor, Embsay Mill, Embsay, Skipton, North Yorkshire, BD23 6QR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A Small Entities -
The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are prepared under the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration receivable for services rendered, net of discounts and Value Added Tax.
Turnover is invoiced in advance and recognised in the income statement during the period to which it relates.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 33.33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives.
2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transactions 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.
2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
2.7. Pensions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
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2.8. 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.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period is arises.
2.9. Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Intangible Assets
Other
£
Cost
As at 1 October 2023 6,429
As at 30 September 2024 6,429
Amortisation
As at 1 October 2023 6,429
As at 30 September 2024 6,429
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 October 2023 52,234 12,103 64,337
Additions - 2,728 2,728
Disposals (29,173 ) (1,112 ) (30,285 )
As at 30 September 2024 23,061 13,719 36,780
...CONTINUED
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Depreciation
As at 1 October 2023 40,071 5,072 45,143
Provided during the period 1,825 4,511 6,336
Disposals (24,305 ) (667 ) (24,972 )
As at 30 September 2024 17,591 8,916 26,507
Net Book Value
As at 30 September 2024 5,470 4,803 10,273
As at 1 October 2023 12,163 7,031 19,194
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 68,815 73,932
Prepayments and accrued income 522 291
69,337 74,223
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,705 11,734
Corporation tax 6,797 95,429
Other taxes and social security 8,690 8,691
VAT 67,796 59,556
Other creditors 1,068 4,355
Accruals and deferred income 2,890 2,890
Directors' loan accounts 711 241
97,657 182,896
8. Pension Commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £34,224 (2023 - £15,966).
Contributions totalling £nil (2023 - £nil) were payable to the fund at the year end, and are included in creditors: amount falling due within one year.
9. Related Party Transactions
Included in creditors: amounts falling due within one year, is a directors loan account balance of £711 (2023 - £241) owing to Mr G Adkin & Mrs K Adkin.
The loan is interest free and repayable on demand.
10. Ultimate Controlling Party
The company is a wholly owned subsidiary undertaking of Jamsharp Ltd.
The registered office of Jamsharp Ltd is First Floor, Embsay Mill, Embsay, Skipton, North Yorkshire, BD23 6QF.
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