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Registered number: 05795186









ADP CEILINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ADP CEILINGS LIMITED
REGISTERED NUMBER: 05795186

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
22,015
30,354

  
22,015
30,354

Current assets
  

Stocks
  
1,384
1,384

Debtors: amounts falling due within one year
 6 
78,122
53,595

Cash at bank and in hand
 7 
63,493
114,067

  
142,999
169,046

Creditors: amounts falling due within one year
 8 
(91,494)
(125,800)

Net current assets
  
 
 
51,505
 
 
43,246

Total assets less current liabilities
  
73,520
73,600

Creditors: amounts falling due after more than one year
 9 
(6,098)
(7,326)

Provisions for liabilities
  

Deferred tax
  
(4,183)
(5,767)

  
 
 
(4,183)
 
 
(5,767)

Net assets
  
63,239
60,507


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
 11 
63,139
60,407

  
63,239
60,507


Page 1

 
ADP CEILINGS LIMITED
REGISTERED NUMBER: 05795186
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers 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 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.

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 income and retained earnings 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 by: 




Colin Latham
Director

Date: 21 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ADP CEILINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

ADP Ceilings Limited is a private company limited by shares, registered in the United Kingdom number 05795186. Its registered office is Manor House, 35 St. Thomas’s Road, Chorley, Lancashire, PR7 1HP. 
During the year, the principal activity of the company continued to be that of other building completion and finishing.

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

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

Page 3

 
ADP CEILINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

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.

Page 4

 
ADP CEILINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

There are no material judgements in applying accounting policies to disclose and there are no material key sources of estimation uncertainty.

Page 5

 
ADP CEILINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Employees

2024
£

Wages and salaries
12,570

Social security costs
479

13,049


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
4,830
33,483
2,251
40,564


Additions
-
-
2,409
2,409


Disposals
-
(6,688)
-
(6,688)



At 30 September 2024

4,830
26,795
4,660
36,285



Depreciation


At 1 October 2023
4,534
3,792
1,884
10,210


Charge for the year on owned assets
74
6,420
242
6,736


Disposals
-
(2,676)
-
(2,676)



At 30 September 2024

4,608
7,536
2,126
14,270



Net book value



At 30 September 2024
222
19,259
2,534
22,015

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
£



Motor vehicles
19,259

19,259
Page 6

 
ADP CEILINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

           5.Tangible fixed assets (continued)



6.


Debtors

2024
2023
£
£


Trade debtors
60,519
24,122

Other debtors
17,603
29,473

78,122
53,595



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
63,493
114,067

63,493
114,067


Page 7

 
ADP CEILINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
77,942
45,310

Corporation tax
1,418
-

Other taxation and social security
3,686
1,341

Obligations under finance lease and hire purchase contracts
2,848
4,468

Other creditors
2,948
72,179

Accruals and deferred income
2,652
2,502

91,494
125,800


The following liabilities were secured:

2024
2023
£
£



Hire Purchase
2,848
4,468

2,848
4,468

Details of security provided:

The Hire purchase creditor of £2,848 is secured on the fixed asset.

Page 8

 
ADP CEILINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
6,098
7,326

6,098
7,326


The following liabilities were secured:

2024
2023
£
£



Hire Purchase
6,098
7,326

6,098
7,326

Details of security provided:

The Hire purchase creditor of £6,098 is secured on the fixed asset.


10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
2,848
4,468

Between 1-5 years
6,098
7,327

8,946
11,795


11.


Reserves

Profit and loss account

Includes all current and prior period retained profits and losses.


12.


Transactions with directors

During the period the directors loan account amounted to £1,990 this was made up of an opening credit balance of £68,855, advances totalling £89,477, credits totalling £17,612 and dividends of £5,000. This is represented within other creditors.

Page 9