ADLEC Property Limited Filleted Accounts Cover
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Company No. 10716546
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ADLEC Property Limited Balance Sheet Registrar
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at
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Company No.
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Notes
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2020
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2019
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£
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£
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Fixed assets
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Investment property
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4
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Current assets
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Stocks
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5
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Debtors
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6
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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7
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(
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(
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Net current assets
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Total assets less current liabilities
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Creditors: Amounts falling due after more than one year
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8
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(
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(
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Provisions for liabilities
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Deferred taxation
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9
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(
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(
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Net assets
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Capital and reserves
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Called up share capital
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Non distributable reserve
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10
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Profit and loss account
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10
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Total equity
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As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the board on 30 October 2020
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And signed on its behalf by:
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A. Collingwood
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Director
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30 October 2020
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ADLEC Property Limited Notes to the Accounts Registrar
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for the year ended 31 March 2020
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1
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General information
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Its registered number is: 10716546
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Its registered office is:
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2
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Accounting policies
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Taxation
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The 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 profit and loss account 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. 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. |
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Freehold investment property
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No depreciation is provided in respect of investment properties. |
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Provisions
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Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. |
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3
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Employees
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2020
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2019
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Number
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Number
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The average number of persons employed during the year :
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4
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Investment property
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Freehold Investment Property
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£
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Valuation
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At 1 April 2019
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Disposals
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(
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At 31 March 2020
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Freehold Investment Property
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5
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Stocks
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2020
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2019
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£
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£
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Finished goods
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6
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Debtors
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2020
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2019
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£
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£
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Prepayments and accrued income
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7
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Creditors:
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amounts falling due within one year
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2020
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2019
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£
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£
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Other taxes and social security
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Accruals and deferred income
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8
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Creditors:
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amounts falling due after more than one year
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2020
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2019
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£
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£
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Other creditors
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9
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Provisions for liabilities
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Deferred taxation
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Accelerated Capital Allowances, Losses and Other Timing Differences
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Total
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£
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£
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At 1 April 2019
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5,491
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Charge to the profit and loss account for the period
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296
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At 31 March 2020
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5,787
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2020
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2019
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£
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£
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Revaluation of land and buildings
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10
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Reserves
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Non distributable Reserve
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Total other reserves
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£
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£
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Movement on reserve
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Deferred taxation
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(
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(
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At 31 March 2019 and 1 April 2019
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Deferred taxation
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(
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(
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At 31 March 2020
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