REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
Adjack Developments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
Adjack Developments Ltd |
Adjack Developments Ltd (Registered number: 08611354) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Adjack Developments Ltd |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
316 Blackpool Road |
Fulwood |
Preston |
Lancashire |
PR2 3AE |
Adjack Developments Ltd (Registered number: 08611354) |
Statement of Financial Position |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Adjack Developments Ltd (Registered number: 08611354) |
Statement of Financial Position - continued |
30 April 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Adjack Developments Ltd (Registered number: 08611354) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Adjack Developments Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Financial assets |
The classification of financial assets depends on the purpose for which the assets were acquired. |
Management determines the classification of an asset at initial recognition and re-evaluates the designation at each reporting date. Financial assets include rights pertaining to earn out arrangements on fixed asset investment disposals entered into at the reporting date. |
Financial assets are initially recognised at transaction price when the company becomes party to contractual obligations and where appropriate are amended to reflect the net present value of receipts based on the dates they will be received. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Adjack Developments Ltd (Registered number: 08611354) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2023 |
Disposals | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Additions/improvements |
Fair value adjustment | 158,446 |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Investment property is included at fair value and is reviewed each year. |
6. | DEBTORS |
30.4.24 | 30.4.23 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
Adjack Developments Ltd (Registered number: 08611354) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
7. | CURRENT ASSET INVESTMENTS |
30.4.24 | 30.4.23 |
£ | £ |
Investments |
Current asset investments are included at fair value and is reviewed each year. |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from Starling Bank. |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 May 2023 |
Fair value adjustments | 128,341 |
At 30 April 2024 |
Adjack Developments Ltd (Registered number: 08611354) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
12. | RELATED PARTY DISCLOSURES |
At the year end the company was owed £5,925 from Contact T/a Contact Solar Ltd, a subsidiary company. (£2023: £113,533) owed to Contact T/a Contact Solar Ltd |
At the year end the company was owed £1,340 (2023: £1,525,126) from Teriyaki Ltd, a subsidiary company. |
All the balances owed to or from related parties are interest free and repayable on demand. |