ADG Financial Consultants Limited 31/03/2023 iXBRL

ADG Financial Consultants Limited 31/03/2023 iXBRL

ADG FINANCIAL CONSULTANTS LIMITED - Company Information

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3 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07932770 2022-04-01 2023-03-31 07932770 2023-03-31 07932770 2022-03-31 07932770 2021-04-01 2022-03-31 07932770 2022-03-31 07932770 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 07932770 bus:RegisteredOffice 2022-04-01 2023-03-31 07932770 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 07932770 bus:Director1 2022-04-01 2023-03-31 07932770 core:FurnitureFittingsToolsEquipment 2022-03-31 07932770 core:FurnitureFittingsToolsEquipment 2023-03-31 07932770 core:WithinOneYear 2023-03-31 07932770 core:WithinOneYear 2022-03-31 07932770 core:AfterOneYear 2023-03-31 07932770 core:AfterOneYear 2022-03-31 07932770 core:ShareCapital 2023-03-31 07932770 core:ShareCapital 2022-03-31 07932770 core:HedgingReserve 2023-03-31 07932770 core:HedgingReserve 2022-03-31 07932770 core:RetainedEarningsAccumulatedLosses 2023-03-31 07932770 core:RetainedEarningsAccumulatedLosses 2022-03-31 07932770 core:FurnitureFittingsToolsEquipment 2022-03-31 07932770 bus:SmallEntities 2022-04-01 2023-03-31 07932770 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07932770 bus:FullAccounts 2022-04-01 2023-03-31 07932770 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07932770 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07932770 core:LandBuildings 2023-03-31 07932770 core:LandBuildings 2022-03-31
Company registration number: 07932770
ADG Financial Consultants Limited
Unaudited filleted financial statements
31 March 2023
ADG Financial Consultants Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
ADG Financial Consultants Limited
Directors and other information
Director A Giddings
Company number 07932770
Registered office Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Business address 365a Ongar Road
Pilgrims Hatch
Brentwood
CM15 9HU
Accountants Hill Allen (Wickford) Limited
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
ADG Financial Consultants Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 375,259 375,518
_______ _______
375,259 375,518
Current assets
Debtors 6 10,275 1,928
Investments 7 331,656 331,656
Cash at bank and in hand 179,649 196,572
_______ _______
521,580 530,156
Creditors: amounts falling due
within one year 8 ( 33,016) ( 45,732)
_______ _______
Net current assets 488,564 484,424
_______ _______
Total assets less current liabilities 863,823 859,942
Creditors: amounts falling due
after more than one year 9 ( 325,856) ( 392,272)
_______ _______
Net assets 537,967 467,670
_______ _______
Capital and reserves
Called up share capital 76 76
Fair value reserve 46,196 46,196
Profit and loss account 491,695 421,398
_______ _______
Shareholders funds 537,967 467,670
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 December 2023 , and are signed on behalf of the board by:
A Giddings
Director
Company registration number: 07932770
ADG Financial Consultants Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Office 1 Riverside Court, 24 Lower Southend Road, Wickford, SS11 8AW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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.
Government grants
Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Fixtures, fittings and equipment Freehold Property Total
£ £ £
Cost
At 1 April 2022 and 31 March 2023 10,803 375,000 385,803
_______ _______ _______
Depreciation
At 1 April 2022 10,285 - 10,285
Charge for the year 259 - 259
_______ _______ _______
At 31 March 2023 10,544 - 10,544
_______ _______ _______
Carrying amount
At 31 March 2023 259 375,000 375,259
_______ _______ _______
At 31 March 2022 518 375,000 375,518
_______ _______ _______
Tangible assets held at valuation
The freehold propery was valued by the director at the accounting period end date based on comparable properties sale prices.
6. Debtors
2023 2022
£ £
Trade debtors 8,860 -
Other debtors 1,415 1,928
_______ _______
10,275 1,928
_______ _______
7. Investments
2023 2022
£ £
Other investments 331,656 331,656
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 3,303 6,588
Corporation tax 26,774 37,184
Other creditors 2,939 1,960
_______ _______
33,016 45,732
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 317,501 385,922
Corporation tax 8,355 6,350
_______ _______
325,856 392,272
_______ _______
10. Controlling party
The company is controlled by the director, A Giddings , by reason of their shareholding.