AD Real Estate Limited Filleted accounts for Companies House (small and micro)

AD REAL ESTATE LTD - Company Information

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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS

All of the members of AD Real Estate Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 09312018

AD REAL ESTATE LIMITED

FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2018

AD REAL ESTATE LIMITED

REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF AD REAL ESTATE LIMITED

YEAR ENDED 31 DECEMBER 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of AD Real Estate Limited for the year ended 31 December 2018, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.

LANGARD LIFFORD HALL LIMITED Accountants and Registered Auditors

Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN

18 September 2019

AD REAL ESTATE LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

31 December 2018

	2018		2017
Note	£	£	£	£

Fixed assets

Tangible assets	5		1,237,792		1,251,750

Current assets

Debtors	3,052	2,906
Cash at bank and in hand	1,590	1,587
	------------	------------
	4,642	4,493

Creditors: amounts falling due within one year	711,534		657,115
	------------		------------
Net current liabilities		706,892		652,622
		--------------		--------------
Total assets less current liabilities		530,900		599,128

Creditors: amounts falling due after more than one year	615,182	673,226
	------------	------------
Net liabilities	( 84,282)	( 74,098)
	------------	------------

Capital and reserves

Called up share capital	120	120
Profit and loss account	( 84,402)	( 74,218)
	------------	------------
Shareholders deficit	( 84,282)	( 74,098)
	------------	------------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

AD REAL ESTATE LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

31 December 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 18 September 2019 , and are signed on behalf of the board by:

IR Mourbey

Director

Company registration number: 09312018

AD REAL ESTATE LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2018

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.

2. Statement of Compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

Attention is drawn to the insolvent position of the company's balance sheet. These accounts have been prepared on the going concern basis, on the understanding that the director and shareholders will continue to financially support the company for the foreseeable future and related parties have agreed not to recall the loan in the short term.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Equipment	-	15% reducing balance

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An Equity instruments is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial instruments.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 4 (2017: 4 ).

5. Tangible Assets

	£
Cost
At 1 January 2018	1,276,446
Additions	2,506
	--------------
At 31 December 2018	1,278,952
	--------------
Depreciation
At 1 January 2018	24,696
Charge for the year	16,464
	--------------
At 31 December 2018	41,160
	--------------
Carrying amount
At 31 December 2018	1,237,792
	--------------
At 31 December 2017	1,251,750
	--------------

6. Directors' Advances, Credits and Guarantees

Amounts owed to the director at the balance sheet date are included in creditors and totalled £442,780 (2017: £448,180)

7. Related Party Transactions

The company owes £173,430 (2017: £115,739) to Alexander Daniels Limited, which is controlled by the directors and shareholders of this company.