Advanced Dynamics Group Limited
Registered number: 13146911
Information for filing with the Registrar
For the year ended 31 March 2024
|
ADVANCED DYNAMICS GROUP LIMITED
REGISTERED NUMBER: 13146911
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 1 -
|
ADVANCED DYNAMICS GROUP LIMITED
REGISTERED NUMBER: 13146911
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 February 2025.
The notes on pages 3 to 7 form part of these financial statements.
- 2 -
|
ADVANCED DYNAMICS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Advanced Dynamics Group Limited is a private company, limited by shares and registered in England and Wales, registered number 13146911. The registered office is Unit 3, 606 Industrial Park Staithgate Lane, Bradford, West Yorkshire, BD6 1YA.
The principal activity of the Company is that of a holding company.
These financial statements have been presented in pound sterling which is the functional currency of the company, and rounded to the nearest £.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
These financial statements have been prepared on a going concern basis. The directors, having considered the financial position of the Company for a period of at least twelve months from the date of signing these financial statements, consider the use of the going concern basis of accounting to be appropriate.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
- 3 -
|
ADVANCED DYNAMICS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
The Company only enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.
|
The average monthly number of employees, including the directors, during the year was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average number of employees
|
|
|
|
|
Investments in subsidiary companies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 4 -
|
ADVANCED DYNAMICS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings are unsecured interest free and repayable on demand.
|
|
Creditors: Amounts falling due after more than one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 5 -
|
ADVANCED DYNAMICS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
|
|
|
Analysis of the maturity of loans is given below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts falling due within one year
|
|
|
|
|
|
|
|
Amounts falling due 1-2 years
|
|
|
|
|
|
|
|
Amounts falling due 2-5 years
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The bank loans are secured by a fixed charge over all the assets of the Company.
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
600 (2023 - 600) Ordinary A shares of £0.10 each
|
|
|
|
|
400 (2023 - 400) Ordinary B shares of £0.10 each
|
|
|
|
|
400 (2023 - 400) Ordinary C shares of £0.10 each
|
|
|
|
|
600 (2023 - 600) Ordinary D shares of £0.10 each
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Each share is entitled to one vote on any circumstances. Also each share is equally entitled to a distribution of dividends and capital.
|
Profit and loss account
This reserve includes the cumulative profits or losses less dividends paid.
- 6 -
|
ADVANCED DYNAMICS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
As at 31 March 2024, Advanced Dynamics Limited has outstanding bank loan balances which are secured by way of fixed and floating charges over the assets of the company and the assets of other group companies as follows: Advanced Dynamics Group Limited and Advanced Dynamics Holdings Limited.
|
Related party transactions
|
|
The Company has taken advantage of the exemption permitted by Section 33 'Related Party Disclosures' not to provide disclosures of transactions entered into with wholly owned subsidiaries within the group.
Amounts owed to directors at the year end totalled £116,066 (2023: £Nil) and amounts owed by directors at the year end totalled £60,654 (2023: £122,110). During the period interest of £9,323 (2023: £10,097) was charged on these loans.
Included within other creditors are amounts owed to family members of the directors which amounted to £1,105,040 (2023: £1,090,603) and within other debtors amounts owed by family members of the directors which amounted to £81,812 (2023: £22,100). During the period interest of £135,683 (2023: £150,612) was charged on these loans.
|
The ultimate controlling party is T Smith and M Smith.
- 7 -
|