Registered number
09554847
ADS2CONVERT LTD
Filleted Accounts
30 April 2024
ADS2CONVERT LTD
Registered number: 09554847
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,560 5,819
Current assets
Debtors 4 41 31
Cash at bank and in hand 128,316 130,888
128,357 130,919
Creditors: amounts falling due within one year 5 (24,168) (32,359)
Net current assets 104,189 98,560
Net assets 109,749 104,379
Capital and reserves
Called up share capital 1 1
Profit and loss account 109,748 104,378
Shareholder's funds 109,749 104,379
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Matthew Caruana
Director
Approved by the board on 28 November 2024
ADS2CONVERT LTD
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 from 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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
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 profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 12,541
Additions 1,132
At 30 April 2024 13,673
Depreciation
At 1 May 2023 6,722
Charge for the year 1,391
At 30 April 2024 8,113
Net book value
At 30 April 2024 5,560
At 30 April 2023 5,819
4 Debtors 2024 2023
£ £
Other debtors 41 31
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 23,238 31,839
Other creditors 930 520
24,168 32,359
6 Controlling party
The controlling party is Matthew Caruana who owns the 1 share issued.
7 Other information
ADS2CONVERT LTD is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
ADS2CONVERT LTD 09554847 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts July 2024 Matthew Caruana No description of principal activity 09554847 2022-05-01 2023-04-30 09554847 core:WithinOneYear 2023-04-30 09554847 core:ShareCapital 2023-04-30 09554847 core:RetainedEarningsAccumulatedLosses 2023-04-30 09554847 2023-05-01 2024-04-30 09554847 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09554847 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09554847 bus:Director40 2023-05-01 2024-04-30 09554847 1 2023-05-01 2024-04-30 09554847 2 2023-05-01 2024-04-30 09554847 core:PlantMachinery 2023-05-01 2024-04-30 09554847 countries:England 2023-05-01 2024-04-30 09554847 bus:FRS102 2023-05-01 2024-04-30 09554847 bus:FilletedAccounts 2023-05-01 2024-04-30 09554847 2024-04-30 09554847 core:WithinOneYear 2024-04-30 09554847 core:ShareCapital 2024-04-30 09554847 core:RetainedEarningsAccumulatedLosses 2024-04-30 09554847 core:PlantMachinery 2024-04-30 09554847 2023-04-30 09554847 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure