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Company registration number: 05555233
ADSN Solutions Limited
Unaudited filleted financial statements
31 August 2024
ADSN Solutions Limited
Contents
Statement of financial position
Notes to the financial statements
ADSN Solutions Limited
Statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 3 824,056 56,804
_______ _______
824,056 56,804
Current assets
Stocks 376,530 575,569
Debtors 4 176,702 295,364
Cash at bank and in hand 869,383 642,889
_______ _______
1,422,615 1,513,822
Creditors: amounts falling due
within one year 5 ( 661,624) ( 563,044)
_______ _______
Net current assets 760,991 950,778
_______ _______
Total assets less current liabilities 1,585,047 1,007,582
Creditors: amounts falling due
after more than one year 6 ( 255,498) ( 49,096)
Provisions for liabilities ( 36,173) ( 14,201)
_______ _______
Net assets 1,293,376 944,285
_______ _______
Capital and reserves
Called up share capital 7 1 1
Capital redemption reserve 3 3
Profit and loss account 1,293,372 944,281
_______ _______
Shareholder funds 1,293,376 944,285
_______ _______
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
Mr Daniel Rose
Director
Company registration number: 05555233
ADSN Solutions Limited
Notes to the financial statements
Year ended 31 August 2024
1. General information
ADSN Solutions Limited (Company number 05555233 ) is a private company limited by shares, registered in England & Wales. The address of the registered office is 11 Albion Place, Maidstone, Kent, ME14 5DY.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings and Structures - Straight line over the life of the building
Short leasehold property - Straight line over the life of the lease
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
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 it arises.
Financial instruments
The company only enters into basic financial instruments 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 and loans to related parties.
2. Employee numbers
The average number of persons employed by the company, including directors, during the year amounted to 15 (2023: 17).
3. Tangible assets
Freehold property Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £ £
Cost
At 1 September 2023 - 10,820 18,999 31,542 41,546 102,907
Additions 680,917 - 42,088 28,543 35,100 786,648
Disposals - - - ( 27,484) - ( 27,484)
_______ _______ _______ _______ _______ _______
At 31 August 2024 680,917 10,820 61,087 32,601 76,646 862,071
_______ _______ _______ _______ _______ _______
Depreciation
At 1 September 2023 - 10,820 1,979 25,514 7,790 46,103
Charge for the year 517 - 4,715 1,876 9,170 16,278
Disposals - - - ( 24,366) - ( 24,366)
_______ _______ _______ _______ _______ _______
At 31 August 2024 517 10,820 6,694 3,024 16,960 38,015
_______ _______ _______ _______ _______ _______
Carrying amount
At 31 August 2024 680,400 - 54,393 29,577 59,686 824,056
_______ _______ _______ _______ _______ _______
At 31 August 2023 - - 17,020 6,028 33,756 56,804
_______ _______ _______ _______ _______ _______
4. Debtors
2024 2023
£ £
Trade debtors 171,438 291,100
Other debtors 5,264 4,264
_______ _______
176,702 295,364
_______ _______
5. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 79,307 10,062
Trade creditors 420,263 334,736
Social security and other taxes 145,147 132,190
Other creditors 16,907 86,056
_______ _______
661,624 563,044
_______ _______
6. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank Loan 255,498 49,096
_______ _______
7. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______