Company registration number 13661872 (England and Wales)
AD8 PROMOTIONS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
AD8 PROMOTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
AD8 PROMOTIONS LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
463
1,649
Current assets
Debtors
4
111,911
106,481
Cash at bank and in hand
95,931
63,227
207,842
169,708
Creditors: amounts falling due within one year
5
(54,316)
(57,814)
Net current assets
153,526
111,894
Net assets
153,989
113,543
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
153,889
113,443
Total equity
153,989
113,543

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 2 December 2024
Mr A J Dombrandt
Director
Company registration number 13661872 (England and Wales)
AD8 PROMOTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

AD8 Promotions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for promotional services provided. Turnover represents the value of goods and services provided in the normal course of business excluding VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Sports equipment
25% on cost
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

AD8 PROMOTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Sports equipment
Computers
Total
£
£
£
Cost
At 1 November 2023 and 31 October 2024
1,770
2,250
4,020
Depreciation and impairment
At 1 November 2023
886
1,485
2,371
Depreciation charged in the year
443
743
1,186
At 31 October 2024
1,329
2,228
3,557
Carrying amount
At 31 October 2024
441
22
463
At 31 October 2023
884
765
1,649
AD8 PROMOTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
43,043
38,543
Other debtors
68,868
67,938
111,911
106,481
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
9,916
11,751
Other taxation and social security
7,224
10,190
Other creditors
37,176
35,873
54,316
57,814
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
7
Related party transactions

The company has an outstanding loan due from AD8 Properties Ltd of £68,868 (2023 - £67,938), a company with a common director. This amount being included in debtors: amounts falling due within one year.

8
Directors' transactions

Dividends totalling £500 (2023 - £1,000) were paid in the year in respect of shares held by the company's director.

The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. The amount outstanding to the director at the year end was £5,810 (2023 - £7,925). This amount being included in creditors: amounts falling due within one year.

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