REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
ADAM HOLDINGS (SCOTLAND) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
ADAM HOLDINGS (SCOTLAND) LIMITED |
ADAM HOLDINGS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC558608) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ADAM HOLDINGS (SCOTLAND) LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
9 Glasgow Road |
PAISLEY |
Renfrewshire |
PA1 3QS |
ADAM HOLDINGS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC558608) |
BALANCE SHEET |
31 December 2021 |
31.12.20 | 31.12.21 |
£ | Notes | £ |
FIXED ASSETS |
Investments | 5 |
CREDITORS |
( |
) | Amounts falling due within one year | 6 | ( |
) |
( |
) | NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
( |
) | Amounts falling due after more than one year |
7 |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ADAM HOLDINGS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC558608) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
Adam Holdings (Scotland) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared under the historical cost convention. |
The significant accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented unless otherwise stated. |
Going Concern |
In light of the ongoing global health crisis caused by COVID-19, the directors have assessed the impact that this could have on the subsidiary company. The subsdiary company is continuing to trade as normal and accordingly the directors continue to adopt the going concern basis of accounting in preparing these financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Adam Holdings (Scotland) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis. |
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
Cash and cash equivalents |
Cash and cash equivalents 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 withing borrowings in current liabilities. |
ADAM HOLDINGS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC558608) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2021 |
3. | ACCOUNTING POLICIES - continued |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity. |
Dividends received are included in the company financial statements in the period in which the related dividends are actually paid, or in respect of the final dividend for the year, approved by shareholders. |
Financial instruments |
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Amounts owed to group undertakings |
Loan | 100,000 | 350,000 |
Director's current account | 17,400 | 17,400 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Loan | 150,000 | 200,000 |
ADAM HOLDINGS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC558608) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2021 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
Ordinary | 1 | 1,000 | 1,000 |
9. | RELATED PARTY DISCLOSURES |
At the year end there was a balance due to the director C Nelson of £17,400 (2020: £17,400). This amount was interest free and has no fixed repayment term. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |