Company registration number SC768883 (Scotland)
ADCL HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
ADCL HOLDINGS LTD
COMPANY INFORMATION
Directors
Mrs T Stewart
(Appointed 10 May 2023)
Mr A Kennedy
(Appointed 10 May 2023)
Company number
SC768883
Registered office
Kirkton Enterprise Centre
Sir William Smith Road
Arbroath
Angus
Scotland
DD11 3RD
Accountants
Findlays Audit Limited
11 Dudhope Terrace
Dundee
DD3 6TS
ADCL HOLDINGS LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
ADCL HOLDINGS LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF ADCL HOLDINGS LTD
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ADCL Holdings Ltd for the period ended 31 August 2024 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the board of directors of ADCL Holdings Ltd, as a body, in accordance with the terms of our engagement letter dated 24 May 2023. Our work has been undertaken solely to prepare for your approval the financial statements of ADCL Holdings Ltd and state those matters that we have agreed to state to the board of directors of ADCL Holdings Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ADCL Holdings Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that ADCL Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ADCL Holdings Ltd. You consider that ADCL Holdings Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of ADCL Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Findlays Audit Limited
Chartered Accountants
11 Dudhope Terrace
Dundee
DD3 6TS
7 May 2025
ADCL HOLDINGS LTD
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
Notes
£
£
Fixed assets
Investments
3
400
Current assets
Debtors
5
1,800
Cash at bank and in hand
714
2,514
Creditors: amounts falling due within one year
6
(1,000)
Net current assets
1,514
Net assets
1,914
Capital and reserves
Called up share capital
400
Profit and loss reserves
1,514
Total equity
1,914

The notes on pages 4 to 6 form part of these financial statements.

For the financial period ended 31 August 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 of its financial statements for the period in question in accordance with section 476.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 7 May 2025 and are signed on its behalf by:
Mrs T Stewart
Director
Company registration number SC768883 (Scotland)
ADCL HOLDINGS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 AUGUST 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 10 May 2023
-
0
-
0
-
Period ended 31 August 2024:
Profit and total comprehensive income
-
8,714
8,714
Issue of share capital
400
-
400
Dividends
-
(7,200)
(7,200)
Balance at 31 August 2024
400
1,514
1,914

The notes on pages 4 to 6 form part of these financial statements.

ADCL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
- 4 -
1
Accounting policies
Company information

ADCL Holdings Ltd is a private company limited by shares incorporated in Scotland. The registered office is Kirkton Enterprise Centre, Sir William Smith Road, Arbroath, Angus, Scotland, DD11 3RD.

1.1
Reporting period

The first accounting period for ADCL Holdings Ltd, incorporated on 10th May 2023, will run from the incorporation date to 31st August 2024, covering a 15-month period, in accordance with the provisions of FRS 102.

1.2
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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
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 balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ADCL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
2
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
400
ADCL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
3
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 10 May 2023
-
Additions
400
At 31 August 2024
400
Carrying amount
At 31 August 2024
400
4
Subsidiaries

Details of the company's subsidiaries at 31 August 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Angus Decorating Company Limited
Kirkton Enterprise Centre, Sir William Smith Road, Arbroath, Angus, DD11 3RD
Ordinary
100.00
ADCL Properties Ltd
Kirkton Enterprise Centre, Sir William Smith Road, Arbroath, Angus, DD11 3RD
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Angus Decorating Company Limited
4,080,075
173,025
ADCL Properties Ltd
704,071
164,167
5
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings
1,800
6
Creditors: amounts falling due within one year
2024
£
Other creditors
1,000
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