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REGISTERED NUMBER: 08215558 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

A D Modular Limited

A D Modular Limited (Registered number: 08215558)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


A D Modular Limited (Registered number: 08215558)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,092,172 2,892,139

CURRENT ASSETS
Stocks 135,000 131,569
Debtors 5 2,282,316 1,305,514
Cash at bank 236,305 1,111,274
2,653,621 2,548,357
CREDITORS
Amounts falling due within one year 6 626,815 951,705
NET CURRENT ASSETS 2,026,806 1,596,652
TOTAL ASSETS LESS CURRENT LIABILITIES 5,118,978 4,488,791

CREDITORS
Amounts falling due after more than one year 7 482,117 128,608
NET ASSETS 4,636,861 4,360,183

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 3,411,129 3,411,129
Retained earnings 1,225,730 949,052
4,636,861 4,360,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr A Gilligan - Director


A D Modular Limited (Registered number: 08215558)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

A D Modular Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08215558

Registered office: 2 Radway Green
Crewe
CW1 5UJ

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Turnover represents net invoiced sales of services, excluding value added tax. Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Cabins - 10% on reducing balance
Long leasehold - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method 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 Profit and Loss Account, 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.

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.

A D Modular Limited (Registered number: 08215558)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and
Cabins leasehold machinery
£    £    £   
COST
At 1 February 2023 4,659,245 23,335 95,211
Additions - - 9,665
Disposals - - -
At 31 January 2024 4,659,245 23,335 104,876
DEPRECIATION
At 1 February 2023 1,900,554 7,899 62,372
Charge for year 275,869 1,543 10,626
Eliminated on disposal - - -
At 31 January 2024 2,176,423 9,442 72,998
NET BOOK VALUE
At 31 January 2024 2,482,822 13,893 31,878
At 31 January 2023 2,758,691 15,436 32,839

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 203,124 27,420 5,008,335
Additions 657,499 12,686 679,850
Disposals (15,652 ) - (15,652 )
At 31 January 2024 844,971 40,106 5,672,533
DEPRECIATION
At 1 February 2023 124,944 20,427 2,116,196
Charge for year 182,940 4,919 475,897
Eliminated on disposal (11,732 ) - (11,732 )
At 31 January 2024 296,152 25,346 2,580,361
NET BOOK VALUE
At 31 January 2024 548,819 14,760 3,092,172
At 31 January 2023 78,180 6,993 2,892,139

A D Modular Limited (Registered number: 08215558)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

The fair value of the Company's Cabins was revalued on 30 September 2017. An independent valuer was not involved. The majority of the fleet was purchased in January 2014 at a reduced price of £1,200,000 and they were included in the account at this cost figure.

In 2017 the directors considered that the fair value of the assets should be based on a desktop valuation carried out by Lombard Finance in 2014. The valuation was £6,000,000 and this was reduced by depreciation of 10% per annum for the next three years to give a value of £4,200,000 at 30 September 2017.

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 616,534 883,589
Other debtors 1,336,139 253,669
1,952,673 1,137,258

Amounts falling due after more than one year:
Amounts owed by group undertakings 329,643 168,256

Aggregate amounts 2,282,316 1,305,514

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,508 44,794
Hire purchase contracts 252,595 95,146
Trade creditors 275,976 583,432
Taxation and social security 78,167 207,362
Other creditors 8,569 20,971
626,815 951,705

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 14,881 24,752
Hire purchase contracts 467,236 103,856
482,117 128,608

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 24,881 34,752
Hire purchase contracts 719,831 199,002
744,712 233,754

Bank Loans are secured against a fixed and floating charge over all property of the company.

Hire purchase contracts are secured against the asset to which they relate.

A D Modular Limited (Registered number: 08215558)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 3,411,129