Filleted

Registration number: 05105593

Adept GRP Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 10

Adept GRP Ltd

Company Information

Directors

Mr V J Phillips Mr T R Vaughan

Registered office

Brynheulwen Argoed Road Ammanford SA18 2PP

Adept GRP Ltd

(Registration number: 05105593)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	18,552	46,479
Other financial assets		2,064	-
		20,616	46,479
Current assets
Stocks	6	7,500	5,000
Debtors	7	311,201	313,845
Cash at bank and in hand		195,646	331,556
		514,347	650,401
Creditors: Amounts falling due within one year	8	(325,294)	(283,881)
Net current assets		189,053	366,520
Total assets less current liabilities		209,669	412,999
Provisions for liabilities		1,460	2,064
Net assets		211,129	415,063
Capital and reserves
Called up share capital		102	102
Profit and loss account		211,027	414,961
Total equity		211,129	415,063

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Adept GRP Ltd

(Registration number: 05105593)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 22 December 2025 and signed on its behalf by:
 

......................................... Mr V J Phillips Director

......................................... Mr T R Vaughan Director

Adept GRP Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Brynheulwen
Argoed Road
Ammanford
SA18 2PP

These financial statements were authorised for issue by the Board on 22 December 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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.

Tax

The tax expense for the period comprises current and deferred 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.

Adept GRP Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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
Plant & Machinery	25 % Straight Line
Motor Vehicles	25 % Straight Line
Fixtures & Office equipment	25 % Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Adept GRP Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Loss/profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	28,603	30,406

Adept GRP Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	122,250	18,241	170,211	310,702
Additions	-	675	-	675
At 31 March 2025	122,250	18,916	170,211	311,377
Depreciation
At 1 April 2024	104,853	17,996	141,374	264,223
Charge for the year	11,820	307	16,475	28,602
At 31 March 2025	116,673	18,303	157,849	292,825
Carrying amount
At 31 March 2025	5,577	613	12,362	18,552
At 31 March 2024	17,397	245	28,837	46,479

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	7,500	5,000

7

Debtors

	Note	2025 £	2024 £
Trade debtors		61,201	63,845
Amounts owed by group undertakings and undertakings in which the company has a participating interest	11	250,000	250,000
Other debtors		2,064	(7,613)
		313,265	306,232

Adept GRP Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		135,232	73,806
Taxation and social security		10,627	74,239
Amounts owed to group undertakings and undertakings in which the company has a participating interest	11	17,984	-
Directors' loan accounts	11	99,240	62,606
Corporation tax liability		1,898	29,460
Other creditors		60,313	43,770
		325,294	283,881