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Company registration number: 03195177
Adderstone Services Limited
Unaudited abridged financial statements
31 October 2024
Adderstone Services Limited
Contents
Directors and other information
Directors report
Accountants report
Abridged statement of comprehensive income
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Adderstone Services Limited
Directors and other information
Directors Mr James William Davidson
Mr John Leonard Davidson
Mrs Jill Angelique Tait
Company number 03195177
Registered office Adderstone Services
Warenford
Belford
Northumberland
NE70 7JU
Business address Adderstone Services
Warenford
Belford
Northumberland
NE70 7JU
Accountants TR Dixon & Co Ltd
Chartered Certified Accountants
Statutory Auditors
Bermuda House
1A Dinsdale Place
Newcastle upon Tyne
NE2 1BD
Bankers Lloyds Bank plc
Adderstone Services Limited
Directors report
Year ended 31 October 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2024.
Directors
The directors who served the company during the year were as follows:
Mr James William Davidson
Mr John Leonard Davidson
Mrs Jill Angelique Tait
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 July 2025 and signed on behalf of the board by:
Mr John Leonard Davidson
Director
Adderstone Services Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Adderstone Services Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Adderstone Services Limited for the year ended 31 October 2024 which comprise the abridged statement of comprehensive income, abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements.
This report is made solely to the board of directors of Adderstone Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Adderstone Services Limited and state those matters that we have agreed to state to the board of directors of Adderstone Services Limited as a body, in this report in accordance with the ACCA, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adderstone Services Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Adderstone Services Limited 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 Adderstone Services Limited. You consider that Adderstone Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Adderstone Services Limited. 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.
TR Dixon & Co Ltd
Chartered Certified Accountants
Statutory Auditors
Bermuda House
1A Dinsdale Place
Newcastle upon Tyne
NE2 1BD
25 July 2025
Adderstone Services Limited
Abridged statement of comprehensive income
Year ended 31 October 2024
2024 2023
Note £ £
Gross profit 636,326 630,396
Administrative expenses ( 485,769) ( 450,424)
_______ _______
Operating profit 150,557 179,972
Interest payable and similar expenses ( 43,222) ( 44,865)
_______ _______
Profit before taxation 5 107,335 135,107
Tax on profit ( 26,712) ( 34,249)
_______ _______
Profit for the financial year and total comprehensive income 80,623 100,858
_______ _______
All the activities of the company are from continuing operations.
Adderstone Services Limited
Abridged statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 1,619,099 1,605,081
_______ _______
1,619,099 1,605,081
Current assets
Stocks 88,826 100,163
Debtors 134,438 103,073
Cash at bank and in hand 1,500 68,097
_______ _______
224,764 271,333
Creditors: amounts falling due
within one year ( 320,930) ( 310,473)
_______ _______
Net current liabilities ( 96,166) ( 39,140)
_______ _______
Total assets less current liabilities 1,522,933 1,565,941
Creditors: amounts falling due
after more than one year ( 509,506) ( 539,343)
Provisions for liabilities ( 48,541) ( 45,135)
_______ _______
Net assets 964,886 981,463
_______ _______
Capital and reserves
Called up share capital 200 200
Share premium account 903,287 903,287
Profit and loss account 61,399 77,976
_______ _______
Shareholders funds 964,886 981,463
_______ _______
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 25 July 2025 , and are signed on behalf of the board by:
Mr John Leonard Davidson
Director
Company registration number: 03195177
Adderstone Services Limited
Statement of changes in equity
Year ended 31 October 2024
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 November 2022 200 903,287 74,318 977,805
Profit for the year 100,858 100,858
_______ _______ _______ _______
Total comprehensive income for the year - - 100,858 100,858
Dividends paid and payable ( 97,200) ( 97,200)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 97,200) ( 97,200)
_______ _______ _______ _______
At 31 October 2023 and 1 November 2023 200 903,287 77,976 981,463
Profit for the year 80,623 80,623
_______ _______ _______ _______
Total comprehensive income for the year - - 80,623 80,623
Dividends paid and payable ( 97,200) ( 97,200)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 97,200) ( 97,200)
_______ _______ _______ _______
At 31 October 2024 200 903,287 61,399 964,886
_______ _______ _______ _______
Adderstone Services Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Adderstone Services, Warenford, Belford, Northumberland, NE70 7JU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements - 2 % straight line
Plant and machinery - 15 % straight line
Fittings fixtures and equipment - 10 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 11).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible assets 22,505 20,812
_______ _______
6. Tangible assets
£
Cost
At 1 November 2023 1,684,432
Additions 36,524
_______
At 31 October 2024 1,720,956
_______
Depreciation
At 1 November 2023 79,352
Charge for the year 22,505
_______
At 31 October 2024 101,857
_______
Carrying amount
At 31 October 2024 1,619,099
_______
At 31 October 2023 1,605,080
_______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr James William Davidson ( 10,093) 104,623 ( 125,015) ( 30,485)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr James William Davidson ( 4,407) ( 5,686) - ( 10,093)
_______ _______ _______ _______