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Registered number: 08723689
ADPAD GROUP LIMITED
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—8
Page 1
Statement of Financial Position
Registered number: 08723689
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,463 62,986
Investments 5 646,250 841,100
668,713 904,086
CURRENT ASSETS
Stocks 6 270,770 246,387
Debtors 7 70,499 415,687
Cash at bank and in hand 5,883 19,216
347,152 681,290
Creditors: Amounts Falling Due Within One Year 8 (959,590 ) (1,312,400 )
NET CURRENT ASSETS (LIABILITIES) (612,438 ) (631,110 )
TOTAL ASSETS LESS CURRENT LIABILITIES 56,275 272,976
Creditors: Amounts Falling Due After More Than One Year 9 (28,796 ) (34,815 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,225 ) (11,967 )
NET ASSETS 23,254 226,194
CAPITAL AND RESERVES
Called up share capital 11 100 100
Income Statement 23,154 226,094
SHAREHOLDERS' FUNDS 23,254 226,194
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For the year ending 30 April 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr P M Colledge
Director
31/01/2025
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
ADPAD GROUP LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08723689 . The registered office is One Courtenay Park, Newton Abbot, Devon, TQ12 2HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33.3% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Financial Instruments
Financial instruments are clasified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financiel liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. 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.
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2.9. Consolidation
The Company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
2.10. Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 6)
3 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 6,703 107,715 33,362 14,333 162,113
Additions - 10,680 - 534 11,214
Disposals (6,703 ) (57,733 ) (33,362 ) (14,333 ) (112,131 )
As at 30 April 2024 - 60,662 - 534 61,196
Depreciation
As at 1 May 2023 4,859 59,484 21,414 13,370 99,127
Provided during the period - 7,369 - 178 7,547
Disposals (4,859 ) (28,298 ) (21,414 ) (13,370 ) (67,941 )
As at 30 April 2024 - 38,555 - 178 38,733
Net Book Value
As at 30 April 2024 - 22,107 - 356 22,463
As at 1 May 2023 1,844 48,231 11,948 963 62,986
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5. Investments
Unlisted
£
Cost
As at 1 May 2023 841,100
Disposals (194,850 )
As at 30 April 2024 646,250
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 646,250
As at 1 May 2023 841,100
Investments in subsidiary undertakings have been valued by the Directors on 30 April 2024. Lameys cannot comment on the accuracy of the valuations within the Accounts and do not endorse them in any way for third party lending.
6. Stocks
2024 2023
£ £
Work in progress 270,770 246,387
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,156 2,156
Prepayments and accrued income 11,853 16,273
Other debtors 5,110 110
VAT 11,216 -
Amounts owed by subsidiaries - 243,702
Amounts owed by associates 40,164 153,446
70,499 415,687
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,422 188,365
Bank loans and overdrafts 5,000 5,000
Other taxes and social security 972 1,821
VAT - 80,882
Other creditors 287 14,483
Accruals and deferred income 5,800 14,232
Directors' loan accounts 6,281 39,645
Amounts owed to subsidiaries 562,565 725,509
Amounts owed to associates 377,263 242,463
959,590 1,312,400
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 28,796 34,815
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Related Party Transactions
Adpad (Churston) LimitedThe balance owed by Adpad (Churston) Limited at the year end was £38,017 (2023: £48,304)

Adpad (Churston) Limited

The balance owed by Adpad (Churston) Limited at the year end was £38,017 (2023: £48,304)

Adpad (Okehampton) LimitedThe balance owed to Adpad (Okehampton) Limited at the year end was £194,985 (2023: £170,581)

Adpad (Okehampton) Limited

The balance owed to Adpad (Okehampton) Limited at the year end was £194,985 (2023: £170,581)

Adpad Construction LimitedThe Company received management fees of £360,000 from Adpad Construction Limited. The balance owed to Adpad Construction Limited at the year end was £426,565 (2023: £725,509)

Adpad Construction Limited

The Company received management fees of £360,000 from Adpad Construction Limited. The balance owed to Adpad Construction Limited at the year end was £426,565 (2023: £725,509)

Colledge Homes LimitedThe balance owed to Colledge Homes Limited at the year end was £182,278.

Colledge Homes Limited

The balance owed to Colledge Homes Limited at the year end was £182,278.

Adpad (Brixton) LimitedThe balance owed to Adpad (Brixton) Limited at the year end was £136,000 (2023: owed by Adpad (Brixton) Limited -£243,702)

Adpad (Brixton) Limited

The balance owed to Adpad (Brixton) Limited at the year end was £136,000 (2023: owed by Adpad (Brixton) Limited -£243,702)

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13. Ultimate Controlling Party
The company's ultimate controlling party is Colledge Homes Limited by virtue of its ownership of 100% of the issued share capital in the company.
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