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
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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|
|
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Tangible assets |
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3 |
824,056 |
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56,804 |
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|
|
|
_______ |
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_______ |
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|
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824,056 |
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56,804 |
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|
|
|
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Current assets |
|
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Stocks |
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376,530 |
|
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575,569 |
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Debtors |
|
4 |
176,702 |
|
|
|
295,364 |
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Cash at bank and in hand |
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869,383 |
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642,889 |
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_______ |
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_______ |
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1,422,615 |
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1,513,822 |
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Creditors: amounts falling due |
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within one year |
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5 |
(
661,624) |
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(
563,044) |
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_______ |
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_______ |
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Net current assets |
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760,991 |
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950,778 |
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_______ |
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_______ |
Total assets less current liabilities |
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1,585,047 |
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1,007,582 |
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Creditors: amounts falling due |
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after more than one year |
|
6 |
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(
255,498) |
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(
49,096) |
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Provisions for liabilities |
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(
36,173) |
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(
14,201) |
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_______ |
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_______ |
Net assets |
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1,293,376 |
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944,285 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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7 |
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1 |
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1 |
Capital redemption reserve |
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3 |
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3 |
Profit and loss account |
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1,293,372 |
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944,281 |
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_______ |
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_______ |
Shareholder funds |
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1,293,376 |
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944,285 |
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_______ |
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_______ |
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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:
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Buildings and Structures |
- |
Straight line over the life of the building |
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Short leasehold property |
- |
Straight line over the life of the lease |
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Fittings fixtures and equipment |
- |
25 % |
reducing balance |
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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
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Freehold property |
Short leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 September 2023 |
- |
10,820 |
18,999 |
31,542 |
41,546 |
102,907 |
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Additions |
680,917 |
- |
42,088 |
28,543 |
35,100 |
786,648 |
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Disposals |
- |
- |
- |
(
27,484) |
- |
(
27,484) |
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_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
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At 31 August 2024 |
680,917 |
10,820 |
61,087 |
32,601 |
76,646 |
862,071 |
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_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
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Depreciation |
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At 1 September 2023 |
- |
10,820 |
1,979 |
25,514 |
7,790 |
46,103 |
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Charge for the year |
517 |
- |
4,715 |
1,876 |
9,170 |
16,278 |
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Disposals |
- |
- |
- |
(
24,366) |
- |
(
24,366) |
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_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
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At 31 August 2024 |
517 |
10,820 |
6,694 |
3,024 |
16,960 |
38,015 |
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_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
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Carrying amount |
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At 31 August 2024 |
680,400 |
- |
54,393 |
29,577 |
59,686 |
824,056 |
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_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
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At 31 August 2023 |
- |
- |
17,020 |
6,028 |
33,756 |
56,804 |
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_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
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4.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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171,438 |
291,100 |
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Other debtors |
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5,264 |
4,264 |
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_______ |
_______ |
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176,702 |
295,364 |
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_______ |
_______ |
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5.
Creditors: amounts falling due within one year
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2024 |
2023 |
|
|
|
£ |
£ |
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Bank loans and overdrafts |
|
79,307 |
10,062 |
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Trade creditors |
|
420,263 |
334,736 |
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Social security and other taxes |
|
145,147 |
132,190 |
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Other creditors |
|
16,907 |
86,056 |
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|
|
_______ |
_______ |
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661,624 |
563,044 |
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_______ |
_______ |
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6.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank Loan |
|
255,498 |
49,096 |
|
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_______ |
_______ |
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7.
Called up share capital
Issued, called up and fully paid
|
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2024 |
|
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2023 |
|
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No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
1 |
|
1 |
|
1 |
|
1 |
|
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_______ |
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_______ |
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_______ |
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_______ |
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