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REGISTERED NUMBER:
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ADSA RESIDENTIAL LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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REGISTERED NUMBER:
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ADSA RESIDENTIAL LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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ADSA RESIDENTIAL LIMITED (REGISTERED NUMBER: 05790122) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ADSA RESIDENTIAL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ADSA RESIDENTIAL LIMITED (REGISTERED NUMBER: 05790122) |
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BALANCE SHEET |
30 APRIL 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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( |
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PROVISIONS FOR LIABILITIES |
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( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
ADSA RESIDENTIAL LIMITED (REGISTERED NUMBER: 05790122) |
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BALANCE SHEET - continued |
30 APRIL 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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ADSA RESIDENTIAL LIMITED (REGISTERED NUMBER: 05790122) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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1. | STATUTORY INFORMATION |
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ADSA Residential Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are presented in sterling (£) which is also the functional currency for the |
company. |
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The company transitioned from previously extant UK GAAP to FRS 102 as at 1 May 2015. An |
explanation of how transition to FRS 102 has affected the reported financial position and financial |
performance is given in note 10. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and |
value added taxes. |
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Turnover represents net invoiced provision of management services. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the |
current or past reporting periods using tax rates that have been enacted or substantively enacted by |
the reporting date. |
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Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax |
losses and other deferred tax assets are recognised only to the extent that it is probable that they will |
be recovered against future taxable profits or against the reversal of deferred tax liabilities. |
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Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the |
reporting date that are expected to apply to the reversal of the timing difference. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks. |
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Trade and other receivables |
Trade and other receivables are measured at transaction price less any impairment unless the |
arrangement constitutes a financing transaction in which case the transaction is measured at the |
present value of the future receipts discounted at the prevailing market rate of interest . Loans are |
initially measured at fair value and are subsequently measured at amortised cost using the effective |
interest method less any impairment. |
ADSA RESIDENTIAL LIMITED (REGISTERED NUMBER: 05790122) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Trade and other payables |
Trade and other payables are measured at their transaction price unless the arrangement constitutes a |
financing transaction in which case the transaction is measured at present value of future payments |
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
value net of their transaction costs. They are subsequently measured at amortised cost using the |
effective interest method. |
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Equity |
Equity comprises of the following: |
- "Share capital" represents the nominal value of equity shares. |
- "Retained earnings" represents retained profits and losses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Directors' loan accounts | 8,716 | 8,380 |
Corporation tax recoverable |
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Deferred tax asset |
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Prepayments and accrued income |
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ADSA RESIDENTIAL LIMITED (REGISTERED NUMBER: 05790122) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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Corporation tax |
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Other taxes and social |
security |
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Amounts owed to related |
parties | 12,646 | 11,911 |
Accruals and deferred income |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Hire purchase contracts | 10,487 | 14,681 |
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Hire purchase creditors are secured on the assets concerned. |
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9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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At the year end, the director owed £8,716 (2016 - £8,380) to the company. During the year, interest of |
£335 (2016 - £322) was charged on this amount at a rate of 4% (2016 - 4%). |
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10. | FIRST YEAR ADOPTION |
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The company adopted FRS 102 for the year ended 30 April 2017. No financial measurement changes |
have taken place as a result of the transition and accordingly there are no differences in the equity |
position of the company as at 1 May 2015 or 30 April 2016 and no changes to the profit and loss |
determined under the previous GAAP. |