2023-05-012024-04-302024-04-30false08910652Appliance Development Services 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Appliance Development Services Limited

Registered Number
08910652
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

Appliance Development Services Limited
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Peter Robinson
Xuan Jiang
Carlton Edward Emms

Registered Address

C/O Armstrong Watson First Floor
One Strawberry Lane
Newcastle Upon Tyne
NE1 4BX

Registered Number

08910652 (England and Wales)
Appliance Development Services Limited
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets312,07422,768
12,07422,768
Current assets
Stocks827,6771,192,936
Debtors4156,115158,389
Cash at bank and on hand138,31183,319
1,122,1031,434,644
Creditors amounts falling due within one year5(618,968)(768,862)
Net current assets (liabilities)503,135665,782
Total assets less current liabilities515,209688,550
Creditors amounts falling due after one year6(298,535)(409,285)
Provisions for liabilities7(2,943)(5,619)
Net assets213,731273,646
Capital and reserves
Called up share capital105105
Share premium3,4953,495
Profit and loss account210,131270,046
Shareholders' funds213,731273,646
The financial statements were approved and authorised for issue by the Board of Directors on 22 November 2024, and are signed on its behalf by:
Peter Robinson
Director
Registered Company No. 08910652
Appliance Development Services Limited
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings6.7
Plant and machinery4
Fixtures and fittings4
Vehicles4
Office Equipment4
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year1012
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 May 234,72134,2094,35023,96619,86287,108
Additions----1,3691,369
At 30 April 244,72134,2094,35023,96621,23188,477
Depreciation and impairment
At 01 May 233,95426,4493,80615,31614,81564,340
Charge for year7674,0185444,0802,65412,063
At 30 April 244,72130,4674,35019,39617,46976,403
Net book value
At 30 April 24-3,742-4,5703,76212,074
At 30 April 237677,7605448,6505,04722,768
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables96,43592,925
Other debtors12,38614,746
Prepayments and accrued income47,29450,718
Total156,115158,389
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables223,164290,634
Bank borrowings and overdrafts267,185271,676
Taxation and social security91,760175,793
Other creditors25,40416,021
Accrued liabilities and deferred income11,45514,738
Total618,968768,862
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts298,535409,285
Total298,535409,285
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,9435,619
Total2,9435,619
8.Operating lease commitments
At 30 April 2024 the company had future minimum lease payments under non-cancellable operating leases of £110,523 (2023: £129,322).
9.Directors advances, credits and guarantees
On 1 May 2023 two directors owed the Company £6,502. During the period these directors were advanced a further £104,822 and repaid £105,332. As at 30 April 2024 these directors owed the Company £5,992. No interest was charged on this loan. The loan is unsecured and repayable upon demand.