Company No: 07302387 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	4	323,453		323,756
		323,453		323,756
Current assets
Debtors	5	1,315		1,526
Cash at bank and in hand		12,806		31,934
		14,121		33,460
Creditors
Amounts falling due within one year	6	( 227,370)		( 260,867)
Net current liabilities		(213,249)		(227,407)
Total assets less current liabilities		110,204		96,349
Creditors
Amounts falling due after more than one year	7	( 23,000)		0
Net assets		87,204		96,349
Capital and reserves
Called-up share capital		100		100
Profit and loss account		87,104		96,249
Total shareholders' funds		87,204		96,349

For the financial year ending 30 April 2022 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of ADB Properties Limited (registered number: 07302387) were approved and authorised for issue by the Board of Directors on 30 January 2023. They were signed on its behalf by:

M R Denford Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

ADB Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 29 Groveside, Bookham, Leatherhead, Surrey, KT23 4LD.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax and refunds.
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 the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	not depreciated
Fixtures and fittings	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Dividends on equity shares

	2022		2021
	£		£
Amounts recognised as distributions to equity holders in the financial year:
Final dividend for the financial year ended 30 April 2022 of £40.00 (2021: £40.00) per ordinary share	4,000		4,000

4. Tangible assets

	Land and buildings		Fixtures and fittings		Total
	£		£		£
Cost
At 01 May 2021	321,734		4,937		326,671
At 30 April 2022	321,734		4,937		326,671
Accumulated depreciation
At 01 May 2021	0		2,915		2,915
Charge for the financial year	0		303		303
At 30 April 2022	0		3,218		3,218
Net book value
At 30 April 2022	321,734		1,719		323,453
At 30 April 2021	321,734		2,022		323,756

5. Debtors

	2022		2021
	£		£
Other debtors	1,315		1,526

6. Creditors: amounts falling due within one year

	2022		2021
	£		£
Bank loans	6,000		0
Other taxation and social security	531		452
Other creditors	220,839		260,415
	227,370		260,867

7. Creditors: amounts falling due after more than one year

	2022		2021
	£		£
Bank loans	23,000		0

There are no amounts included above in respect of which any security has been given by the small entity.