ADG Systems PLC - Period Ending 2025-02-28

Registration number: 02530874

ADG Systems PLC

Annual Report and Financial Statements

for the Period from 1 September 2023 to 28 February 2025

ADG Systems PLC

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 8
Income Statement	9
Statement of Financial Position	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Financial Statements	13 to 23

ADG Systems PLC

Company Information

Directors

B Goodman

A D Goodman

Company secretary

B Goodman

Registered office

Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

Auditors

Stewart & Co Accountants LLP
Registered Auditors and Chartered Accountants
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

ADG Systems PLC

Strategic Report for the Period from 1 September 2023 to 28 February 2025

The directors present their strategic report for the period from 1 September 2023 to 28 February 2025.

Principal activity

The principal activity of the company is HVAC installation and design

Fair review of the business

The results of the period and financial position of the company are as shown in the financial statements. Overall the directors consider the results for the year to be satisfactory.

The main KPIs are turnover, gross profit and net profit. The company also monitors gross margin per contract, as well as debts outstanding on specific contracts.

Principal risks and uncertainties

The principal risks are collectability of retentions and agreement of final account valuations with the main contractors.

The company uses various financial instruments including cash and items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.

The existence of the financial instruments exposes the company to a number of financial risks which are described in more detail below.

The main financial risk arising from the company's financial statements are liquidity risk and credit risk.

Approved and authorised by the Board on 27 August 2025 and signed on its behalf by:

.........................................
A D Goodman
Director

ADG Systems PLC

Directors' Report for the Period from 1 September 2023 to 28 February 2025

The directors present their report and the financial statements for the period from 1 September 2023 to 28 February 2025.

Directors of the company

The directors who held office during the period were as follows:

B Goodman - Company secretary and director

A D Goodman

Financial instruments

Price risk, credit risk, liquidity risk and cash flow risk

The company seeks to manage liquidity risk by ensuring sufificent liquidity is available to meet forseeable needs and to invest cash assets safely and profitably.

The company's principal financial assets are cash and debtors.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved and authorised by the Board on 27 August 2025 and signed on its behalf by:

.........................................
A D Goodman
Director

ADG Systems PLC

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ADG Systems PLC

Independent Auditor's Report to the Members of ADG Systems PLC

Opinion

We have audited the financial statements of ADG Systems PLC (the 'company') for the period from 1 September 2023 to 28 February 2025, which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

•	give a true and fair view of the state of the company's affairs as at 28 February 2025 and of its profit for the period then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

ADG Systems PLC

Independent Auditor's Report to the Members of ADG Systems PLC

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Strategic Report and Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

•	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•	the financial statements are not in agreement with the accounting records and returns; or
•	certain disclosures of directors' remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

ADG Systems PLC

Independent Auditor's Report to the Members of ADG Systems PLC

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, we have obtained an understanding of the nature of the industry, the control environment and the legal and regulatory frameworks that the company operates in.

We determined that the most significant applicable legal and regulatory frameworks are those directly relevant to the reporting framework and preparation of the financial statements (FRS 102, Companies Act 2006 and UK tax legislation). We considered the extent to which non-compliance might have a material effect on the financial statements.

We determined the principal risks which could lead to material misstatement of the financial statements to be related to posting inappropriate journal entries and management bias in accounting estimates. We identified the most significant risks in respect of accounting estimates to be the determination of level of accrued and deferred contract revenue at the end of the reporting period.

Audit procedures performed by the engagement team included:

•	Identifying those members of the Company who have the primary responsibility for ensuring compliance with laws and regulations;
•	Enquiries with management, to understand managements’ approach to ensuring compliance with laws and regulations, and to obtain knowledge of any non-compliance or potential non-compliance with laws and regulations that could affect the financial statements;
•	Evaluating managements’ incentives and opportunities for manipulation of the financial statements (including management override of controls);
•	Testing journal entries and performing analytical procedures to identify any unusual transactions, or those outside the normal course of business, which may indicate risks of material misstatement due to fraud;
•	Testing of balances and transactions that are subject to estimation uncertainty by review of evidence supporting the assumptions and judgements used, and determining whether those judgements used indicate potential bias;
•	Reading minutes of meetings of those charged with governance;
•	Review of legal expense accounts to identify spend which may be indicative of breaches of laws and regulations;
•	Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with the provisions of laws and regulations described above.

The engagement team also remained aware of the need for professional scepticism to identify any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

ADG Systems PLC

Independent Auditor's Report to the Members of ADG Systems PLC

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Gary Robinson (Senior Statutory Auditor)
For and on behalf of Stewart & Co Accountants LLP, Statutory Auditor

Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY

3 September 2025

ADG Systems PLC

Income Statement for the Period from 1 September 2023 to 28 February 2025

	Note	2025 £	2023 £
Turnover	3	3,686,122	2,048,326
Cost of sales		(2,326,758)	(1,387,651)
Gross profit		1,359,364	660,675
Administrative expenses		(833,809)	(488,607)
Operating profit	4	525,555	172,068
Other interest receivable and similar income	5	1,528	23
Interest payable and similar expenses	6	(4,147)	(3,485)
		(2,619)	(3,462)
Profit before tax		522,936	168,606
Tax on profit	10	(130,553)	(36,198)
Profit for the financial period		392,383	132,408

The above results were derived from continuing operations.

There was no other comprehensive income for 2025 (2023: £Nil).

The company has no recognised gains or losses for the period other than the results above.

ADG Systems PLC

(Registration number: 02530874)
Statement of Financial Position as at 28 February 2025

	Note	2025 £	2023 £
Fixed assets
Tangible assets	11	12,048	1,177
Current assets
Stocks	12	4,149	17,727
Debtors	13	567,675	462,334
Cash at bank and in hand		647,006	396,964
		1,218,830	877,025
Creditors: Amounts falling due within one year	15	(783,891)	(613,598)
Net current assets		434,939	263,427
Total assets less current liabilities		446,987	264,604
Creditors: Amounts falling due after more than one year	15	(13,333)	(43,333)
Net assets		433,654	221,271
Capital and reserves
Called up share capital		16,250	16,250
Profit and loss account	18	417,404	205,021
Shareholders' funds		433,654	221,271

Approved and authorised by the Board on 27 August 2025 and signed on its behalf by:

.........................................
A D Goodman
Director

ADG Systems PLC

Statement of Changes in Equity for the Period from 1 September 2023 to 28 February 2025

	Share capital £	Profit and loss account £	Total £
At 1 September 2023	16,250	205,021	221,271
Profit for the period	-	392,383	392,383
Dividends	-	(180,000)	(180,000)
At 28 February 2025	16,250	417,404	433,654

	Share capital £	Profit and loss account £	Total £
At 1 September 2022	16,250	212,613	228,863
Profit for the period	-	132,408	132,408
Dividends	-	(140,000)	(140,000)
At 31 August 2023	16,250	205,021	221,271

ADG Systems PLC

Statement of Cash Flows for the Period from 1 September 2023 to 28 February 2025

	Note	2025 £	2023 £
Cash flows from operating activities
Profit for the period		392,383	132,408
Adjustments to cash flows from non-cash items
Depreciation and amortisation	4	2,342	579
Finance income	5	(1,528)	(23)
Finance costs	6	4,147	3,485
Income tax expense	10	130,553	36,198
		527,897	172,647
Working capital adjustments
Decrease/(increase) in stocks	12	13,578	(13,578)
Increase in trade debtors	13	(105,341)	(15,705)
Increase in trade creditors	15	170,293	172,602
Cash generated from operations		606,427	315,966
Income taxes paid	10	(130,553)	(36,198)
Net cash flow from operating activities		475,874	279,768
Cash flows from investing activities
Interest received	5	1,528	23
Acquisitions of tangible assets		(13,213)	(1,756)
Net cash flows from investing activities		(11,685)	(1,733)
Cash flows from financing activities
Interest paid	6	(4,147)	(3,485)
Proceeds from bank borrowing draw downs		(30,000)	(20,000)
Dividends paid	20	(180,000)	(140,000)
Net cash flows from financing activities		(214,147)	(163,485)
Net increase in cash and cash equivalents		250,042	114,550
Cash and cash equivalents at 1 September		396,964	282,414
Cash and cash equivalents at 28 February		647,006	396,964

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

1	General information

The company is a public company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY
United Kingdom

These financial statements were authorised for issue by the Board on 27 August 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure of long or short period

The directors have chosen to extend the year end during the financial period so the financial statements to 28th February 2025 are for a long period of 18 months. Due to this comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Going concern

The financial statements have been prepared on a going concern basis as the shareholders have confirmed continued support to the company as and when it is required.

The customer order book remains strong, the exact timing of when these orders will result in revenue is uncertain, however it is expected that the revenue will be recognised within the 12 months following the date of signing these accounts. Based on the above, the directors are of the opinion that the going concern principle is applicable and that the Company have the necessary resources to continue as a going concern for the forseeable future.

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Where the Company undertakes projects that span the accounting year end, the directors consider the stage of completion of the individual projects and recognise income based on their stage of completion. Consideration is also given to the costs incurred at this date and appropriate adjustments are made to ensure profit is recognised appropriately.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	33% straight line

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

Financial instruments

Recognition and measurement
The Company only enters into basic financial instruments 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 and loans to related parties.

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

3

Turnover

The analysis of the company's Revenue for the period from continuing operations is as follows:

	2025 £	2023 £
Sale of goods	3,686,122	2,048,326

4	Operating profit

Arrived at after charging/(crediting)

	2025 £	2023 £
Depreciation expense	2,342	579
Operating lease expense - plant and machinery	67,683	38,994

5	Other interest receivable and similar income

	2025 £	2023 £
Interest income on bank deposits	1,445	-
Other finance income	83	23
	1,528	23

6	Interest payable and similar expenses

	2025 £	2023 £
Interest on bank overdrafts and borrowings	3,993	3,485
Interest expense on other finance liabilities	154	-
	4,147	3,485

7	Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

	2025 £	2023 £
Wages and salaries	674,309	404,763
Social security costs	10,340	1,880
Pension costs, defined contribution scheme	188,556	41,708
	873,205	448,351

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

The average number of persons employed by the company (including directors) during the period, analysed by category was as follows:

	2025 No.	2023 No.
Administration and support	5	5
Sales	4	4
	9	9

8	Directors' remuneration

The directors' remuneration for the period was as follows:

	2025 £	2023 £
Remuneration	18,000	12,000
Contributions paid to money purchase schemes	120,000	16,000
	138,000	28,000

9	Auditors' remuneration

	2025 £	2023 £
Audit of the financial statements	8,845	8,425
Other fees to auditors
All other non-audit services	1,625	1,545

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

10

Taxation

Tax charged/(credited) in the income statement

	2025 £	2023 £
Current taxation
UK corporation tax	130,553	36,198

The tax on profit before tax for the period is the same as the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 25% (2023 - 21.49%).

The differences are reconciled below:

	2025 £	2023 £
Profit before tax	522,936	168,606
Corporation tax at standard rate	130,734	36,233
Tax decrease from effect of capital allowances and depreciation	(3,303)	(319)
Effect of expense not deductible in determining taxable profit (tax loss)	2,537	218
Tax increase from other tax effects	585	66
Total tax charge	130,553	36,198

In the Spring Budget 2021, the UK Government announced that from 1 April 2023 the corporation tax rate would increase to 25% (rather than remaining at 19%, as previously enacted). This new law was substantively enacted on 24 May 2021. Deferred taxes at the balance sheet date have been measured using these enacted tax rates and reflected in these financial statements.

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

11	Tangible assets

Furniture, fittings and equipment
£

Total
£

Cost or valuation

At 1 September 2023

6,336

6,336

Additions

13,213

13,213

At 28 February 2025

19,549

19,549

Depreciation

At 1 September 2023

5,159

5,159

Charge for the period

2,342

2,342

At 28 February 2025

7,501

7,501

Carrying amount

At 28 February 2025

12,048

12,048

At 31 August 2023

1,177

1,177

12

Stocks

2025
£

2023
£

Work in progress

4,149

4,149

Other inventories

-

13,578

4,149

17,727

13

Debtors

Current

2025
£

2023
£

Trade debtors

470,561

429,654

Other debtors

97,114

32,680

567,675

462,334

14

Cash and cash equivalents

2025
£

2023
£

Cash at bank

647,006

396,964

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

15

Creditors

	Note	2025 £	2023 £
Due within one year
Loans and borrowings	19	20,000	20,000
Trade creditors		419,641	368,286
Amounts due to related parties	21	-	24,418
Social security and other taxes		150,418	77,690
Outstanding defined contribution pension costs		2,925	2,925
Other payables		11,364	3,715
Accruals		179,543	116,564
		783,891	613,598
Due after one year
Loans and borrowings	19	13,333	43,333

16	Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £188,556 (2023 - £41,708).

Contributions totalling £2,925 (2023 - £2,925) were payable to the scheme at the end of the period and are included in creditors.

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

17	Share capital

Allotted, called up and fully paid shares

	2025		2023
	No.	£	No.	£
Ordinary shares of £0.05 each	100,000	5,000	100,000	5,000

Allotted, called up and not fully paid shares

	2025		2023
	No.	£	No.	£
Ordinary shares of £0.05 each	900,000	11,250.00	900,000	11,250.00

900,000 £0.05 Ordinary shares are part paid as only 25% has been called up.

Rights, preferences and restrictions

Ordinary share have the following rights, preferences and restrictions:
There is a single class of ordinary share. All shares have equal voting and dividend rights. The shares are not redeemable.

18

Reserves

Profit and loss account

This reserve represents accumulated profits available for distribution.

ADG Systems PLC

Notes to the Financial Statements for the Period from 1 September 2023 to 28 February 2025

19	Loans and borrowings

Non-current loans and borrowings

	2025 £	2023 £

Bank borrowings	13,333	43,333

Current loans and borrowings

	2025 £	2023 £

Bank borrowings	20,000	20,000

Bank borrowings

The bank loan is denominated in pound sterling with a nominal interest rate of Base rate + 2.21%, and the final instalment is due on 12 October 2026. The carrying amount at period end is £Nil (2023 - £Nil).

The security on the loan is an unlimited debenture from ADG Systems PLC.

20

Dividends

	2025	2023
	£	£
Interim dividend	180,000	140,000

21	Related party transactions

During the year the directors received dividends totalling £180,000 (2023: £140,000) from the company. At the period end the director owed the company £4,552 (2023: £24,418 was owed to a director).

	Furniture, fittings and equipment £	Total £
Cost or valuation
At 1 September 2023	6,336	6,336
Additions	13,213	13,213
At 28 February 2025	19,549	19,549
Depreciation
At 1 September 2023	5,159	5,159
Charge for the period	2,342	2,342
At 28 February 2025	7,501	7,501
Carrying amount
At 28 February 2025	12,048	12,048
At 31 August 2023	1,177	1,177

	2025 £	2023 £
Work in progress	4,149	4,149
Other inventories	-	13,578
	4,149	17,727

Current	2025 £	2023 £
Trade debtors	470,561	429,654
Other debtors	97,114	32,680
	567,675	462,334