Registered Number
:
05388078
|
For the year ended 31 March 2022
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2022
ADS Automotive Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
ADS Automotive Limited
Statement of Financial Position
2021
2022
Property
,
plant and equipment
|
17,673
16,668
3
17,673
16,668
2,500
2,500
4
Trade and other receivables
|
3,960
27,507
5
73,186
Cash and cash equivalents
|
33,686
63,693
79,646
Trade and other payables
:
amounts falling due within one
|
year
|
(39,401)
(36,942)
6
40,245
26,751
Net current assets
Total assets less current liabilities
|
44,424
56,913
Trade and other payables
:
amounts falling due after more
|
than one year
|
(20,833)
(16,666)
7
(2,267)
(2,587)
Provisions for liabilities
|
25,491
Net assets
33,493
100
100
25,391
33,393
25,491
33,493
Shareholders' funds
For the year ended 31 March 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
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 his responsibilities for:a) ensuring that the company keeps proper 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
|
Section
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 05 October 2022 and were signed by:
|
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For the year ended 31 March 2022
ADS Automotive Limited
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 5
For the year ended 31 March 2022
ADS Automotive Limited
Notes to the Financial Statements
Statutory Information
ADS Automotive Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration
|
number
05388078
.
|
Unit 200
South Liberty Lane
Bristol
BS3 2TW
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of 5 years.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and machinery
Computer equipment
Motor vehicles
Fixtures and fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
|
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
|
3 of 5
For the year ended 31 March 2022
ADS Automotive Limited
Notes to the Financial Statements Continued
2
.
Intangible fixed assets
|
Goodwill
8,000
8,000
8,000
8,000
-
-
3
.
Property
,
plant and equipment
|
Motor vehicles
58,736
3,505
754
12,538
41,939
6,414
864
-
3,950
1,600
16,488
754
4,369
65,150
43,539
Provision for depreciation and impairment
|
42,068
1,854
732
7,294
32,188
Charge for year
5,409
1,295
5
1,839
2,270
47,477
3,149
737
9,133
34,458
9,081
7,355
17
1,220
17,673
9,751
5,244
22
1,651
16,668
2021
2022
2,500
2,500
4 of 5
For the year ended 31 March 2022
ADS Automotive Limited
Notes to the Financial Statements Continued
5
.
Trade and other receivables
|
2021
2022
6,797
3,960
Prepayments and accrued income
|
710
-
20,000
-
3,960
27,507
Other debtors of £20,000 comprise of a loan to ADS West Automotive Ltd, a company wholly owned by Mr G Honey, a Director. The loan is interest-free and repayable on demand.
|
6
.
Trade and other payables
:
amounts falling due within one year
|
2021
2022
4,167
4,167
21,768
13,501
Taxation and social security
|
8,766
12,899
Accruals and deferred income
|
1,095
7,435
Directors
'
loan accounts
|
869
1,037
277
362
36,942
39,401
7
.
Trade and other payables
:
amounts falling due after more than one year
|
2021
2022
16,666
20,833
8
.
Average number of persons employed
|
During the year the average number of employees was 7 (2021 : 7)
5 of 5