Company Registration No. 04225939 (England and Wales)
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
Century House
Wargrave Road
Henley-on-Thames
RG9 2LT
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr Robin Jackson
Secretary
Mr Robin Jackson
Company number
04225939
Registered office
3a Queen Street
Dorchester on Thames
Wallingford
OX10 7HR
Accountants
Taylorcocks
Century House
Wargrave Road
Henley-on-Thames
RG9 2LT
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 2 -
2018
2017
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
125,546
Current assets
Debtors
4
-
16,279
Cash at bank and in hand
60
59,243
60
75,522
Creditors: amounts falling due within one year
5
(1,500)
(110,859)
Net current liabilities
(1,440)
(35,337)
Total assets less current liabilities
(1,440)
90,209
Creditors: amounts falling due after more than one year
6
-
(205,499)
Net liabilities
(1,440)
(115,290)
Capital and reserves
Called up share capital
7
4,000
4,000
Share premium account
44,000
44,000
Capital redemption reserve
1,000
1,000
Profit and loss reserves
(50,440)
(164,290)
Total equity
(1,440)
(115,290)
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2018
31 March 2018
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 5 December 2018 and are signed on its behalf by:
Mr Robin Jackson
Director
Company Registration No. 04225939
The notes on pages 4 to 8 form part of these financial statements
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 4 -
1
Accounting policies
Company information
ADR International Purchasing Consultants Limited
(04225939)
is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3a Queen Street, Dorchester on Thames, Wallingford, OX10 7HR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Reporting period
The financial statements for the prior period are presented for a period longer than one year. The period was extended to align with related party reporting dates.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date
where
it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the cost or value of the asset can be measured reliably.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Intellectual property rights
20 years straight line
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities
Basic financial liabilities, including creditors,
and
loans from
fellow group companies are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
1.11
At the balance sheet date the company's liabilities exceeded its assets. The day to day operation of the company is dependent upon support from its directors and lenders. On the assumption that such support will continue to be forthcoming, the directors consider it appropriate to prepare the financial statements on a going concern basis.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2017 - 3).
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 7 -
3
Intangible fixed assets
Intellectual property rights
£
Cost
At 1 April 2017
156,928
Disposals
(156,928)
At 31 March 2018
-
Amortisation and impairment
At 1 April 2017
31,383
Disposals
(31,383)
At 31 March 2018
-
Carrying amount
At 31 March 2018
-
At 31 March 2017
125,546
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
-
12,254
Amounts owed by group undertakings
-
1,222
Other debtors
-
2,803
-
16,279
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
-
2,199
Amounts due to group undertakings
-
76,201
Other taxation and social security
-
2,459
Accruals and deferred income
1,500
30,000
1,500
110,859
ADR INTERNATIONAL PURCHASING CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 8 -
6
Creditors: amounts falling due after more than one year
2018
2017
Notes
£
£
Directors loan accounts
-
205,499
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
4,000 Ordinary shares of £1 each
4,000
4,000
4,000
4,000