Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3122false052775812023-04-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05277581 2023-04-01 2024-03-31 05277581 2022-04-01 2023-03-31 05277581 2024-03-31 05277581 2023-03-31 05277581 2022-04-01 05277581 c:Director1 2023-04-01 2024-03-31 05277581 d:PlantMachinery 2023-04-01 2024-03-31 05277581 d:PlantMachinery 2024-03-31 05277581 d:PlantMachinery 2023-03-31 05277581 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05277581 d:FurnitureFittings 2023-04-01 2024-03-31 05277581 d:FurnitureFittings 2024-03-31 05277581 d:FurnitureFittings 2023-03-31 05277581 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05277581 d:ComputerEquipment 2023-04-01 2024-03-31 05277581 d:ComputerEquipment 2024-03-31 05277581 d:ComputerEquipment 2023-03-31 05277581 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05277581 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05277581 d:CurrentFinancialInstruments 2024-03-31 05277581 d:CurrentFinancialInstruments 2023-03-31 05277581 d:Non-currentFinancialInstruments 2024-03-31 05277581 d:Non-currentFinancialInstruments 2023-03-31 05277581 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05277581 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05277581 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 05277581 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05277581 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 05277581 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 05277581 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 05277581 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 05277581 d:ShareCapital 2024-03-31 05277581 d:ShareCapital 2023-03-31 05277581 d:SharePremium 2023-04-01 2024-03-31 05277581 d:SharePremium 2024-03-31 05277581 d:SharePremium 2023-03-31 05277581 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 05277581 d:CapitalRedemptionReserve 2024-03-31 05277581 d:CapitalRedemptionReserve 2023-03-31 05277581 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 05277581 d:RetainedEarningsAccumulatedLosses 2024-03-31 05277581 d:RetainedEarningsAccumulatedLosses 2023-03-31 05277581 c:OrdinaryShareClass1 2023-04-01 2024-03-31 05277581 c:OrdinaryShareClass1 2024-03-31 05277581 c:OrdinaryShareClass1 2023-03-31 05277581 c:FRS102 2023-04-01 2024-03-31 05277581 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05277581 c:FullAccounts 2023-04-01 2024-03-31 05277581 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05277581 d:WithinOneYear 2024-03-31 05277581 d:WithinOneYear 2023-03-31 05277581 d:BetweenOneFiveYears 2024-03-31 05277581 d:BetweenOneFiveYears 2023-03-31 05277581 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 05277581 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05277581 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 05277581 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 05277581 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure



















Advanced Dynamics Limited

Registered number: 05277581
Information for filing with the Registrar
For the year ended 31 March 2024

 
31 March 2024
ADVANCED DYNAMICS LIMITED
REGISTERED NUMBER: 05277581

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
102,242
167,192

  
102,242
167,192

Current assets
  

Stocks
  
1,481,459
1,096,836

Debtors
 5 
3,889,443
3,158,142

Cash at bank and in hand
 6 
68
112,094

  
5,370,970
4,367,072

Creditors: amounts falling due within one year
 7 
(3,461,898)
(2,137,030)

Net current assets
  
 
 
1,909,072
 
 
2,230,042

Total assets less current liabilities
  
2,011,314
2,397,234

Creditors: amounts falling due after more than one year
 8 
(102,957)
(156,524)

Provisions for liabilities
  

Deferred tax
 10 
(17,229)
(29,379)

Net assets
  
1,891,128
2,211,331


Capital and reserves
  

Called up share capital 
 11 
30
30

Share premium account
 12 
274
274

Capital redemption reserve
 12 
30
30

Profit and loss account
 12 
1,890,794
2,210,997

  
1,891,128
2,211,331


- 1 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
REGISTERED NUMBER: 05277581
    
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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.




M I Little
Director

The notes on pages 3 to 11 form part of these financial statements.

- 2 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Advanced Dynamics Limited (the “Company”) is a private company, limited by shares and registered in England and Wales, registered number 05277581. The registered office is Unit 3, 606 Industrial Park, Staithgate Lane, Bradford, BD6 1YA, United Kingdom.
The principal activity of the Company is the wholesale of machinery and equipment.

2.Accounting policies

 
2.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

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.  
On forming this opinion, the directors have considered the reserves of the Company and regularly review the financial and trading information of the Company. This information comprises of, but not limited to: accounts forecasts and cashflow projections.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

- 3 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
 
2.6

Finance costs

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

- 4 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
20%
Fixtures & fittings
-
15%
Computer equipment
-
33.33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

- 5 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

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.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.16

Financial instruments

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.

 
2.17

Dividends

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.

- 6 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2023 - 22).


4.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost 


At 1 April 2023
12,980
494,694
201,338
709,012



At 31 March 2024

12,980
494,694
201,338
709,012



Depreciation


At 1 April 2023
12,020
333,595
196,205
541,820


Charge for the year
316
61,652
2,982
64,950



At 31 March 2024

12,336
395,247
199,187
606,770



Net book value



At 31 March 2024
644
99,447
2,151
102,242



At 31 March 2023
960
161,099
5,133
167,192

- 7 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£



Trade debtors
526,213
661,877

Amounts owed by group undertakings
1,974,749
2,094,852

Other debtors
616,057
290,342

Prepayments and accrued income
772,424
111,071

3,889,443
3,158,142


Amounts owed by group undertakings are unsecured, interest free and repayable on demand. 


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
68
112,094

Less: bank overdrafts
(143,736)
-

(143,668)
112,094



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
143,736
-

Bank loans
322,609
220,283

Other loans
8,000
8,000

Payments received on account
1,208,674
821,964

Trade creditors
1,182,116
466,571

Corporation tax
198,143
145,046

Other taxation and social security
295,439
433,504

Other creditors
25,191
20,537

Accruals and deferred income
77,990
21,125

3,461,898
2,137,030


- 8 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
101,623
147,190

Other loans
1,334
9,334

102,957
156,524



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
322,609
220,283

Other loans
8,000
8,000


330,609
228,283

Amounts falling due 1-2 years

Bank loans
52,088
50,420

Other loans
1,334
8,000


53,422
58,420

Amounts falling due 2-5 years

Bank loans
49,535
96,770

Other loans
-
1,334


49,535
98,104


433,566
384,807


The bank loan and overdraft are secured by a fixed and floating charge over all the assets of the Company. 
The other loans are secured over the assets of the Company.

- 9 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
(29,379)
(42,199)


Charged to profit or loss
12,150
12,820



At end of year
(17,229)
(29,379)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(18,359)
(30,036)

Short term timing differences
1,130
657

(17,229)
(29,379)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3,000 (2023 - 3,000) Ordinary shares of £0.01 each
30.00
30.00



12.


Reserves

Share premium account

Share premium represents the amount above the nominal value received for issue share capital, less transaction costs.

Capital redemption reserve

The capital redemption reserve represents the value of the Company's own shares which have been repurchased.

Profit & loss account

This reserve includes the cumulative profits or losses less dividends

- 10 -

 
31 March 2024
ADVANCED DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £54,562 (2023 - £62,604). Contributions totalling £4,520 (2023 - £5,125) were payable to the fund at the reporting date and are included in creditors. 


14.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
74,243
65,157

Later than 1 year and not later than 5 years
167,967
238,911

242,210
304,068


15.


Related party transactions

The Company is a wholly owned subsidiary of the group headed by Advanced Dynamics Group Limited and as such 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.


16.


Controlling party

The immediate parent company is Advanced Dynamics Holdings Limited and the ultimate parent company is Advanced Dynamics Group Limited. 

 
- 11 -