Company registration number 04703562 (England and Wales)
A-DATA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
A-DATA LIMITED
CONTENTS
Page
Strategic report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
A-DATA LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

The directors present the strategic report for the year ended 30 April 2024.

Review of the business

The principal activity of the company was that of the receipt of rental income. The company was also involved in the supply of CCTV equipment and LED lighting.

 

Turnover for the company for the financial year amounted to £2,285,708. (2023 - £3,071,667). The company's rental income for the year was £200,000 (2023 - £304,395). Profit for the financial year after taxation was £198,712 (2023 - £1,174,239). General market conditions have made trading very competitive, but the directors are satisfied with the overall performance of the company.

Principal risks and uncertainties

Principal risks and uncertainties are:

 

Management risks

 

The management of the company is controlled by its two directors who are supported by a management team. Strategic matters and future development decisions are carried out by the the board of directors.

 

Credit risk

 

The company has negligible credit risk as credit control is very tightly managed, with strict rules being laid down for every customer.

 

Financial risks

 

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

 

Operating risk

 

The company manages day to day operating risks by adapting best practice wherever possible. This process includes ensuring staff are properly trained and that industry standards and regulations are adhered to to the highest possible levels.

On behalf of the board

Mrs J E Brown
Director
9 April 2025
A-DATA LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 2 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,190,947
4,107,614
Current assets
Stocks
139,784
-
Debtors
5
7,798,360
8,977,483
Cash at bank and in hand
3,039
17,565
7,941,183
8,995,048
Creditors: amounts falling due within one year
6
(2,063,963)
(2,702,983)
Net current assets
5,877,220
6,292,065
Total assets less current liabilities
9,068,167
10,399,679
Creditors: amounts falling due after more than one year
7
(69,702)
(164,366)
Provisions for liabilities
(487,129)
(707,375)
Net assets
8,511,336
9,527,938
Capital and reserves
Called up share capital
50,110
50,110
Revaluation reserve
8
1,570,644
2,039,800
Profit and loss reserves
6,890,582
7,438,028
Total equity
8,511,336
9,527,938

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 April 2025 and are signed on its behalf by:
Mrs J E Brown
Director
Company registration number 04703562 (England and Wales)
A-DATA LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
As restated for the period ended 30 April 2023:
Balance at 1 May 2022
50,110
3,126,893
6,263,789
9,440,792
Year ended 30 April 2023:
Profit and total comprehensive income
-
-
1,174,239
1,174,239
Other movements
8
-
(1,087,093)
-
(1,087,093)
Balance at 30 April 2023
50,110
2,039,800
7,438,028
9,527,938
Year ended 30 April 2024:
Profit and total comprehensive income
-
-
198,712
198,712
Transfers
8
-
175,111
(175,111)
-
Other movements
8
-
(644,267)
(571,047)
(1,215,314)
Balance at 30 April 2024
50,110
1,570,644
6,890,582
8,511,336
A-DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

A-Data Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Spring Business Park, Stanhope Road, Havant, PO9 2GJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include freehold land and buildings at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, forecast future cash flows and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Nil
Fixtures, fittings & equipment
20% - straight line
Motor vehicles
25% - straight line

Freehold land and buildings are not depreciated. The company maintains a policy of constant refurbishment and the directors consider that no depreciation is required.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

A-DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities including trade and other accounts receivable and payable, loans from banks and loans from related parties.

 

Debt instruments including loans and other accounts receivable and payable are initially measured at transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

 

The company also enters into other financial instruments in the use of forward foreign currency contracts in order to reduce exposure to foreign exchange rates.

 

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

A-DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

A-DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 7 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Connected company loans

The directors have made an assumption that loans owed by connected companies, included within other debtors due in both less and more than one year, amounting to £7,542,901 (2023 - £8,896,906) are fully recoverable and, accordingly, no provision for impairment is considered necessary. This assumption is based on the expectation that the connected companies will have the financial capacity to repay the loans in full or can transfer inventory, considering factors such as the financial position, ongoing operations, and future prospects of these companies.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2023 - 3).

4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 May 2023
3,950,000
1,063,696
5,013,696
Additions
-
0
152
152
Revaluation
(850,000)
-
0
(850,000)
At 30 April 2024
3,100,000
1,063,848
4,163,848
Depreciation and impairment
At 1 May 2023
-
0
906,082
906,082
Depreciation charged in the year
-
0
66,819
66,819
At 30 April 2024
-
0
972,901
972,901
Carrying amount
At 30 April 2024
3,100,000
90,947
3,190,947
At 30 April 2023
3,950,000
157,614
4,107,614

There is a charge over the property held by the compay's bankers.

A-DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
5
Debtors
2024
2023
as restated
Amounts falling due within one year:
£
£
Trade debtors
61,877
1,438
Other debtors
717,550
621,239
779,427
622,677
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
7,018,933
8,354,806
Total debtors
7,798,360
8,977,483

The directors have confirmed, with regards to the amounts owed by connected companies totalling £464,755 (2023 - £416,868) included within other debtors, that although this balance is repayable on demand and hence receivable within one year, no repayment of the balance will be sought until the creditor company is in a position to make such payment. It is anticipated that this will not be for at least two years from the statement of financial position date.

The long-term other debtors include discounting charges put through the company, on two connected company loans, as no interest is charged on these balances. The total discounting applied to these balances totals is £1,167,951 (2023 - £596,904).

6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,575
259
Trade creditors
1,434,511
2,029,415
Taxation and social security
429,400
490,832
Other creditors
196,477
182,477
2,063,963
2,702,983

The amounts payable under finance leases, within other creditors, are secured by fixed charges over the assets concerned.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
69,702
164,366
A-DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
7
Creditors: amounts falling due after more than one year
(Continued)
- 9 -

The amounts payable under finance leases, within other creditors, are secured by fixed charges over the assets concerned.

8
Revaluation reserve

During the year the revaluation reserve decreased by the net effect of the revaluation made per note 4 and the other deferred tax movement in the year per note . There was also a transfer made between the revaluation reserve and profit and loss reserves, increasing the revaluation reserve by £175,111. This transfer was made as the brought forward amount was too low; however the directors have not made a prior year adjustment in relation to this amount on the basis of materiality.

In the prior year the movement related to a decrease in the revaluation reserve following the sale of another property.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Alex Chidwick FCCA
Statutory Auditor:
Sumer Audit
Date of audit report:
10 April 2025
Sumer Audit is the trading name of Sumer Auditco Limited
10
Financial commitments, guarantees and contingent liabilities

There is an unlmited cross company guarantee between the company, QVIS Lighting & Security Limited, Puretech Electicial Products Limited and QVIS Monitoring Limited.

11
Events after the reporting date

On 30 October 2024 the freehold property held in the company was sold for £3.1m. The company acquired additional leasehold properties for trading purposes.

12
Prior period adjustment

The comparative period financial statements have been restated to incorporate the impact of write-offs of elements of two connected company loans, both included within long-term debtors due in more than one year, in relation to sales of stock to these connected companies in a prior year. These restatements have reduced the brought forward long-term other debtors in the prior year by £1,300,000 and also reduced the long-term other debtors in the prior year by £500,000. Overall retained earnings have reduced by £1,800,000 as a result of these restatements.

 

The comparative period financial statements have also been restated to correct the classification of connected company loans from short to long-term debtors, as per the total balance in other debtors as shown in note 5. Included in this balance is also a restatement relating to a discounting adjustment on one of these connected company balances, as shown in the same note. Overall retained earnings brought forward in the prior year have reduced by £596,904 as a result of this restatement.

A-DATA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
12
Prior period adjustment
(Continued)
- 10 -
Reconciliation of changes in equity
1 May
30 April
2022
2023
£
£
Adjustments to prior year
Profit and loss reserves
(1,896,904)
(2,396,904)
Equity as previously reported
11,337,696
11,924,842
Equity as adjusted
9,440,792
9,527,938
Analysis of the effect upon equity
Profit and loss reserves
(1,896,904)
(2,396,904)
Reconciliation of changes in profit for the previous financial period
2023
£
Adjustments to prior year
Profit and loss reserves
(500,000)
Profit as previously reported
1,674,239
Profit as adjusted
1,174,239
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