Adaa Enterprises Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09263815 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

ADAA ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs V L Madaka

REGISTERED OFFICE:

Ground Floor

42 Station Road

North Harrow

Middlesex

HA2 7SE

REGISTERED NUMBER:

09263815 (England and Wales)

ACCOUNTANTS:

Sage & Co

Chartered Accountants

38A High Street

Northwood

Middlesex

HA6 1BN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

5,754

3,043

5,754

3,043

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

6

8,775

3,625

Cash at bank

604

4,179

10,379

8,804

CREDITORS

Amounts falling due within one year

7

1,580

2,681

NET CURRENT ASSETS

8,799

6,123

TOTAL ASSETS LESS CURRENT LIABILITIES

14,553

9,166

CREDITORS

Amounts falling due after more than one year

8

190,630

155,918

NET LIABILITIES

(176,077

)

(146,752

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(176,177

)

(146,852

)

SHAREHOLDERS' FUNDS

(176,077

)

(146,752

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 March 2023 and were signed by:

Mrs V L Madaka - Director

1.	STATUTORY INFORMATION

Adaa Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The shareholders have continued to support the company and as a result the directors have concluded that it is appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. A grant received before the performance criteria are satisfied is recognised as a liability. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

4,000

AMORTISATION

At 1 April 2021

and 31 March 2022

4,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2021

7,315

Additions

3,726

At 31 March 2022

11,041

DEPRECIATION

At 1 April 2021

4,272

Charge for year

1,015

At 31 March 2022

5,287

NET BOOK VALUE

At 31 March 2022

5,754

At 31 March 2021

3,043

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

6,775

3,625

Prepayments

2,000

-

8,775

3,625

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

1,006

1,350

Taxation and social security

4

(39

)

Other creditors

570

1,370

1,580

2,681

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

7,100

7,650

Other creditors

183,530

148,268

190,630

155,918

2022

2021

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,816

450

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

10.	OTHER FINANCIAL COMMITMENTS

At the year end, the company had total commitments under operating leases over the remaining life of those leases of approximately £141,375 (2021: £155,875).