Adco Products Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04926986 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

ADCO PRODUCTS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H M Smith

D P K Christian

G Downie

R J Brown

SECRETARY:

H M Smith

REGISTERED OFFICE:

207 Knutsford Road

Grappenhall

Warrington

Cheshire

WA4 2QL

REGISTERED NUMBER:

04926986 (England and Wales)

ACCOUNTANTS:

Walker Begley Limited

Chartered Accountants

207 Knutsford Road

Grappenhall

Warrington

Cheshire

WA4 2QL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

119,093

79,447

119,093

79,447

CURRENT ASSETS

Stocks

182,560

196,494

Debtors

831,651

947,106

Cash at bank and in hand

172,635

122,636

1,186,846

1,266,236

CREDITORS

Amounts falling due within one year

1,125,876

1,324,059

NET CURRENT ASSETS/(LIABILITIES)

60,970

(57,823

)

TOTAL ASSETS LESS CURRENT LIABILITIES

180,063

21,624

CREDITORS

Amounts falling due after more than one year

983,997

1,041,473

NET LIABILITIES

(803,934

)

(1,019,849

)

CAPITAL AND RESERVES

Called up share capital

601,000

601,000

Retained earnings

(1,404,934

)

(1,620,849

)

(803,934

)

(1,019,849

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2024 and were signed on its behalf by:

H M Smith - Director

1.	STATUTORY INFORMATION

Adco Products 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.

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 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost, 20% on cost and 10% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2022 - 61 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2022

and 30 September 2023

370,000

AMORTISATION

At 1 October 2022

and 30 September 2023

370,000

NET BOOK VALUE

At 30 September 2023

-

At 30 September 2022

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2022

219,545

Additions

59,283

At 30 September 2023

278,828

DEPRECIATION

At 1 October 2022

140,098

Charge for year

19,637

At 30 September 2023

159,735

NET BOOK VALUE

At 30 September 2023

119,093

At 30 September 2022

79,447

6.	RELATED PARTY DISCLOSURES

At the year end the company owed £388,000 (2022 - £390,818) to related companies whose ultimate controlling party was a director of Adco Products Limited.