ADPAD CONSTRUCTION LIMITED

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

1. General Information

ADPAD CONSTRUCTION LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 10606036 . 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.

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

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 classified 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.

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.

...CONTINUED

Page 3

Page 4

ADPAD CONSTRUCTION LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.6. Taxation - continued

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. Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

Page 4

Page 5

ADPAD CONSTRUCTION LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 May 2024	12,465
Additions	525

As at 30 April 2025	12,990

Depreciation
As at 1 May 2024	9,736
Provided during the period	813

As at 30 April 2025	10,549

Net Book Value
As at 30 April 2025	2,441

As at 1 May 2024	2,729

5. Stocks

	2025	2024
	£	£
Work in progress	-	146,911

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	555	1,878
Other debtors	199,433	210,870
Amounts owed by associates	425,200	426,650

	625,188	639,398

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	200,100	344,360
Corporation tax	7,591	16,544
Other taxes and social security	6,372	15,391
Accruals	45,714	3,175
Amounts owed to associates	315,663	367,193

	575,440	746,663

Page 5

Page 6

ADPAD CONSTRUCTION LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

8. Share Capital

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

9. Related Party Transactions

Adpad (Brixton) Limited

The Company made sales to Adpad (Brixton) Limited totalling £102,183 (2024: £Nil). A loan of £102,183 was written off in the year. The balance owed by Adpad (Brixton) Limited was £Nil (2024: £Nil).

Colledge Homes Limited

The balance owed to the Company as at 30 April 2025 was £7,767 (2024: Nil)

Adpad Group Limited

The Company incurred expenses of £460,000 (2024: £360,000). The balance owed by Adpad Group Limited was £417,348 as at 30 April 2025 (2024: £426,565).

Adpad (Churston) Limited

The Company made sales to Adpad (Churston) Limited totalling £70,445 (2024: £132,536). There was no outstanding balance at the year end.

Adpad (Okehampton) Limited

The Company made sales to Adpad (Okehampton) Limited totalling £2,244,925 (2024: £3,427,409). The balance owed by the Company was £315,663 (2024: £367,193).

10. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Adpad Group Limited. Adpad Group Limited was incorporated in England.

Page 6

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,441		2,729

			2,441		2,729
CURRENT ASSETS
Stocks	5	-		146,911
Debtors	6	625,188		639,398
Cash at bank and in hand		115,106		185,248

		740,294		971,557
Creditors: Amounts Falling Due Within One Year	7	(575,440 )		(746,663 )

NET CURRENT ASSETS (LIABILITIES)			164,854		224,894

TOTAL ASSETS LESS CURRENT LIABILITIES			167,295		227,623

PROVISIONS FOR LIABILITIES
Deferred Taxation			(610 )		(682 )

NET ASSETS			166,685		226,941

CAPITAL AND RESERVES
Called up share capital	8		100		100
Income Statement			166,585		226,841

SHAREHOLDERS' FUNDS			166,685		226,941