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ADELMILL LIMITED

Company Registration Number:
01258925 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2017

Period of accounts

Start date: 01 November 2016

End date: 31 October 2017

ADELMILL LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2017

Balance sheet
Notes

ADELMILL LIMITED

Balance sheet

As at 31 October 2017


Notes

2017

2016


£

£
Fixed assets
Tangible assets: 3 1,100,000 1,100,472
Investments: 4 12 12
Total fixed assets: 1,100,012 1,100,484
Current assets
Stocks: 5,047,213 5,066,589
Debtors:   162,545 157,140
Cash at bank and in hand: 1,681,617 1,947,819
Total current assets: 6,891,375 7,171,548
Creditors: amounts falling due within one year:   (149,712) (176,957)
Net current assets (liabilities): 6,741,663 6,994,591
Total assets less current liabilities: 7,841,675 8,095,075
Creditors: amounts falling due after more than one year:   (6,319,491) (6,796,593)
Total net assets (liabilities): 1,522,184 1,298,482
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,522,084 1,298,382
Shareholders funds: 1,522,184 1,298,482

The notes form part of these financial statements

ADELMILL LIMITED

Balance sheet statements

For the year ending 31 October 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 July 2018
and signed on behalf of the board by:

Name: Mrs M P Franklin
Status: Director

The notes form part of these financial statements

ADELMILL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration receivable on the sale of properties

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation 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:Plant and machinery 25% reducing balance

Valuation and information policy

Stock and work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred.

Other accounting policies

Finabcial 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.Basic financial assets - Basic financial assets, which include debtors 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.Basic financial liabilities - Basic financial liabilities, including creditors and loans from associated 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 payments 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. Amounts 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.

ADELMILL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2017

2. Employees

2017 2016
Average number of employees during the period 0 0

ADELMILL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2017

3. Tangible Assets

Total
Cost £
At 01 November 2016 1,108,748
Disposals (8,748)
At 31 October 2017 1,100,000
Depreciation
At 01 November 2016 8,276
On disposals (8,276)
At 31 October 2017 0
Net book value
At 31 October 2017 1,100,000
At 31 October 2016 1,100,472

Investment properties comprises of residential buildings and the value stated above is the historical cost. The director considers the historical cost to be the fair value of the properties at the balance sheet date.

ADELMILL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2017

4. Fixed investments

Fixed asset investment represents interest in an unlisted subsidiary undertaking