ADSN Solutions Limited 31/08/2019 iXBRL
ADSN Solutions Limited 31/08/2019 iXBRL
Company registration number:
05555233
Unaudited filleted financial statements
Contents
Statement of financial position
Notes to the financial statements
Statement of financial position
31 August 2019
2019 | 2018 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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_______ | _______ | ||||||||
Net current assets |
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
10 October 2019
, and are signed on behalf of the board by:
Director
Company registration number:
05555233
Notes to the financial statements
Year ended 31 August 2019
1.
General information
ADSN Solutions Limited (Company number
05555233
) is a private company limited by shares, registered in England & Wales. The address of the registered office is 11 Albion Place, Maidstone, Kent, ME14 5DY.
2.
Statement of compliance
3.
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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. Revenue for ADSN Solutions Limited is in the form of hair product sales.
Taxation
Operating leases
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Short leasehold property | - |
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Fittings fixtures and equipment | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Stock consists of hair products which
ADSN Solutions Limited
hold for resale.
Provisions
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2018: 18).
5.
Tangible assets
Short leasehold property | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 September 2018 |
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Additions | - | 4,022 | 4,022 | |
Disposals | - |
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At 31 August 2019 |
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Depreciation | ||||
At 1 September 2018 |
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Charge for the year |
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Disposals | - |
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At 31 August 2019 |
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Carrying amount | ||||
At 31 August 2019 | - |
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At 31 August 2018 |
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6.
Debtors
2019 | 2018 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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7.
Creditors: amounts falling due within one year
2019 | 2018 | |||
£ | £ | |||
Trade creditors |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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268,440 | |||
_______ | _______ | |||