Adapa UK Edinburgh Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Adapa UK Edinburgh Limited is a private company, limited by shares, incorporated in Scotland, registered number SC241535 . The registered office is C/O Anderson Strathern Llp, 58 Morrison Street, Edinburgh, EH3 8BP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation

Tangible assets are initially recorded at cost, and 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.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Nil depreciation
Plant and machinery	15% & 33% Reducing balance
Motor vehicles	33% Reducing balance
Fixtures and fittings	33% Reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Adapa UK Edinburgh Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2023: 12)

4. Tangible Assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
As at 1 January 2024	129,195	103,328	232,523
Disposals	(15,978 )	(37,999 )	(53,977 )

As at 31 December 2024	113,217	65,329	178,546

Depreciation
As at 1 January 2024	111,147	41,607	152,754
Provided during the period	3,691	21,103	24,794
Disposals	(11,865 )	(20,284 )	(32,149 )

As at 31 December 2024	102,973	42,426	145,399

Net Book Value
As at 31 December 2024	10,244	22,903	33,147

As at 1 January 2024	18,048	61,721	79,769

5. Stocks

	2024	2023
	£	£
Materials	276,799	432,321

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	2,013,553	2,359,917
Other debtors	306,803	190,522

	2,320,356	2,550,439

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Adapa UK Edinburgh Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	4,652	4,652
Trade creditors	1,414,314	1,066,181
Other creditors	1,462,180	1,788,545
Taxation and social security	207,605	266,300

	3,088,751	3,125,678

The company has a floating charge dated 23 October 2017 that is held over advances under discounting facility on all property or undertaking of the company.

The company also has three further floating charges dated 30 October 2017, 28 November 2017 and 29 May 2018 on all the property orundertaking of the company.

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	775	5,427

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	4,652	4,652
Later than one year and not later than five years	775	5,427

	5,427	10,079

	5,427	10,079

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

11. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. Audit Information

The auditor's report on the accounts of Adapa UK Edinburgh Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Richard Brown FCA FCCA (Senior Statutory Auditor) for and on behalf of ERC Accountants & Business Advisers Ltd , Statutory Auditor.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		33,147		79,769

			33,147		79,769
CURRENT ASSETS
Stocks	5	276,799		432,321
Debtors	6	2,320,356		2,550,439
Cash at bank and in hand		1,648,699		1,354,988

		4,245,854		4,337,748
Creditors: Amounts Falling Due Within One Year	7	(3,088,751 )		(3,125,678 )

NET CURRENT ASSETS (LIABILITIES)			1,157,103		1,212,070

TOTAL ASSETS LESS CURRENT LIABILITIES			1,190,250		1,291,839

Creditors: Amounts Falling Due After More Than One Year	8		(775 )		(5,427 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(1,854 )

NET ASSETS			1,189,475		1,284,558

CAPITAL AND RESERVES
Called up share capital	10		100		100
Share premium account			59,238		59,238
Profit and Loss Account			1,130,137		1,225,220

SHAREHOLDERS' FUNDS			1,189,475		1,284,558