ADPAD GROUP LIMITED

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—7

1. General Information

ADPAD GROUP LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08723689 . The registered office is One Courtenay Park, Newton Abbot, Devon, TQ12 2HD.

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.

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% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	33.3% 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

Financial instruments are clasified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financiel liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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ADPAD GROUP LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 30 April 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. 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.

2.8. Consolidation

The Company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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ADPAD GROUP LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.9. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 May 2024	-	60,662	534	61,196
Additions	398	-	652	1,050

As at 30 April 2025	398	60,662	1,186	62,246

Depreciation
As at 1 May 2024	-	38,555	178	38,733
Provided during the period	100	5,528	446	6,074

As at 30 April 2025	100	44,083	624	44,807

Net Book Value
As at 30 April 2025	298	16,579	562	17,439

As at 1 May 2024	-	22,107	356	22,463

5. Investments

	Unlisted
	£
Cost
As at 1 May 2024	646,250
Disposals	(146,000 )

As at 30 April 2025	500,250

Provision
As at 1 May 2024	-

As at 30 April 2025	-

...CONTINUED

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ADPAD GROUP LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

Net Book Value
As at 30 April 2025	500,250

As at 1 May 2024	646,250

Investments in subsidiary undertakings have been valued by the Directors on 30 April 2025. Lameys cannot comment on the accuracy of the valuations within the Accounts and do not endorse them in any way for third party lending.

6. Stocks

	2025	2024
	£	£
Work in progress	218,584	270,770

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	2,156
Prepayments and accrued income	12,526	11,853
Other debtors	110	5,110
VAT	38,416	11,216
Amounts owed by associates	7,713	40,164

	58,765	70,499
Due after more than one year
Contingent asset	100,000	-

	158,765	70,499

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	5,141	1,422
Bank loans and overdrafts	5,000	5,000
Other taxes and social security	-	972
Other creditors	10,030	287
Accruals and deferred income	6,151	5,800
Director's loan account	48,221	6,281
Amounts owed to subsidiaries	451,166	562,565
Amounts owed to associates	129,064	377,263

	654,773	959,590

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ADPAD GROUP LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

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

	2025	2024
	£	£
Bank loans	23,241	28,796

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

11. Related Party Transactions

Adpad Construction Limited

The Company received management fees of £460,000 from Adpad Construction Limited. The balance owed to Adpad Construction Limited at the year end was £417,348 (2024: £426,565)

Adpad (Churston) Limited

The balance owed to Adpad (Churston) Limited at the year end was £5,630 (2024: owed by Adpad (Churston) Limited - £38,017)

Colledge Homes Limited

The balance owed by Colledge Homes Limited at the year end was £4,942 (2024: owed to Colledge Homes Ltd was £182,278).

Adpad (Okehampton) Limited

The balance owed to Adpad (Okehampton) Limited at the year end was £123,434 (2024: £194,985)

12. Ultimate Controlling Party

The Company's ultimate controlling party is Colledge Homes Limited by virtue of its ownership of 100% of the issued share capital in the Company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		17,439		22,463
Investments	5		500,250		646,250

			517,689		668,713
CURRENT ASSETS
Stocks	6	218,584		270,770
Debtors	7	158,765		70,499
Cash at bank and in hand		8,779		5,883

		386,128		347,152
Creditors: Amounts Falling Due Within One Year	8	(654,773 )		(959,590 )

NET CURRENT ASSETS (LIABILITIES)			(268,645 )		(612,438 )

TOTAL ASSETS LESS CURRENT LIABILITIES			249,044		56,275

Creditors: Amounts Falling Due After More Than One Year	9		(23,241 )		(28,796 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(4,360 )		(4,225 )

NET ASSETS			221,443		23,254

CAPITAL AND RESERVES
Called up share capital	10		100		100
Income Statement			221,343		23,154

SHAREHOLDERS' FUNDS			221,443		23,254