ADPAD (CHURSTON) LIMITED

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

1. General Information

ADPAD (CHURSTON) LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11442374 . 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. Going Concern Disclosure

The directors believe that the going concern basis is not appropriate as the company has fullfilled its contractual obligations in regard to the construction and sales of all building plots, as and a result, the directors intend to cease trading once all financial obligations has been met.

2.3. 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.

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.

2.4. Financial Instruments

Financial Instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial 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.

2.5. 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.

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ADPAD (CHURSTON) LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.5. 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.

2.6. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

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ADPAD (CHURSTON) LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

4. Debtors

	2026	2025
	£	£
Due within one year
Corporation tax recoverable assets	223	-
VAT	15	-
Amounts owed by associates	8,130	36,630

	8,368	36,630

5. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	-	240
Corporation tax	-	1,828
VAT	-	7,150
Amounts due to connected company	259	2,207
Accruals and deferred income	2,001	22,945

	2,260	34,370

Four charges were created on 20 October 2020 over the land and freehold property at Broadway, Dartmouth Road, Brixham. Two charges are registered with Close Brothers Limited, one with Adpad Group Limited and one with Mr S. Gliddon.

6. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

7. Related Party Transactions

During the year the company entered into the following transactions with related parties:

Adpad Construction Limited

Associated Company

The Company incurred supplier invoices totalling £Nil during the year (£70,445 as at 31 January 2025). Adpad Construction Limited owed the Company £1,500 as at 31 January 2026 (£16,000 as at 31 January 2025).

Adpad Group Limited

Associated Company

Adpad Group Limited owes the Company £6,630 as at 31 January 2026 (The Company owed Adpad Group Limited £20,630 as at 31 January 2025).

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		2026		2025
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	8,368		36,630
Cash at bank and in hand		351		5,253

		8,719		41,883
Creditors: Amounts Falling Due Within One Year	5	(2,260 )		(34,370 )

NET CURRENT ASSETS (LIABILITIES)			6,459		7,513

TOTAL ASSETS LESS CURRENT LIABILITIES			6,459		7,513

NET ASSETS			6,459		7,513

CAPITAL AND RESERVES
Called up share capital	6		100		100
Income Statement			6,359		7,413

SHAREHOLDERS' FUNDS			6,459		7,513