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REGISTERED NUMBER: SC558608 (Scotland)















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: C Nelson





REGISTERED OFFICE: 9 Glasgow Road
Paisley
PA1 3QS





REGISTERED NUMBER: SC558608 (Scotland)





ACCOUNTANTS: John M Taylor & Co
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
2,010,000 Investments 5 2,010,000

CREDITORS
(400,800 ) Amounts falling due within one year 6 (450,800 )
(400,800 ) NET CURRENT LIABILITIES (450,800 )
1,609,200 TOTAL ASSETS LESS CURRENT
LIABILITIES

1,559,200

CREDITORS
(200,000 ) Amounts falling due after more than one
year

7

(150,000

)
1,409,200 NET ASSETS 1,409,200

CAPITAL AND RESERVES
1,000 Called up share capital 8 1,000
1,408,200 Retained earnings 1,408,200
1,409,200 SHAREHOLDERS' FUNDS 1,409,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 12 September 2022 and were signed by:




C Nelson - Director


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 private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

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 2,010,000
NET BOOK VALUE
At 31 December 2021 2,010,000
At 31 December 2020 2,010,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£ £
Amounts owed to group undertakings 333,400 33,400
Loan 100,000 350,000
Director's current account 17,400 17,400
450,800 400,800

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: £ £
1,000 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 C Nelson.