Admiral Property Maintenance Limited

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

1. General Information

Admiral Property Maintenance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10029346 . The registered office is First Floor, 5 High Street, Westbury-on-Trym, Bristol, BS9 3BY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any 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:

Plant & Machinery	25% straight line
Motor Vehicles	25% straight line

2.4. 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.

2.5. Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss. All other investments are subsequently measured ar cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit and loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value. Trade creditors are not interest-bearing and are stated at their nominal value. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment , an impairment loss is recognised in profit and loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assesed individually for impairment. Other financial assets are either assessed individually or grouped on the similar basis of credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

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Admiral Property Maintenance Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 8)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 March 2024	9,670	101,027	110,697
Additions	-	22,812	22,812
Disposals	-	(11,019 )	(11,019 )

As at 28 February 2025	9,670	112,820	122,490

Depreciation
As at 1 March 2024	4,908	49,845	54,753
Provided during the period	1,834	18,014	19,848
Disposals	-	(2,526 )	(2,526 )

As at 28 February 2025	6,742	65,333	72,075

Net Book Value
As at 28 February 2025	2,928	47,487	50,415

As at 1 March 2024	4,762	51,182	55,944

5. Stocks

	2025	2024
	£	£
Work in progress	10,538	2,001

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Admiral Property Maintenance Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	89,494	77,685
Other debtors	71,000	-

	160,494	77,685

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	14,911	16,837
Other creditors	43,829	45,728
Taxation and social security	57,008	46,599

	115,748	109,164

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

9. Pension Commitments

The company operates a defined contribution pension scheme for the employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,185 (PY £757) were due to the fund. They are included in Other Creditors.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		50,415		55,944

			50,415		55,944
CURRENT ASSETS
Stocks	5	10,538		2,001
Debtors	6	160,494		77,685
Cash at bank and in hand		41,372		128,051

		212,404		207,737
Creditors: Amounts Falling Due Within One Year	7	(115,748 )		(109,164 )

NET CURRENT ASSETS (LIABILITIES)			96,656		98,573

TOTAL ASSETS LESS CURRENT LIABILITIES			147,071		154,517

PROVISIONS FOR LIABILITIES
Deferred Taxation			(12,604 )		(10,630 )

NET ASSETS			134,467		143,887

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			134,466		143,886

SHAREHOLDERS' FUNDS			134,467		143,887