2022-01-01 00559422 2022-12-31 00559422 2022-01-01 2022-12-31 00559422 2021-12-31 00559422 2021-01-01 2021-12-31 00559422 uk-core:WithinOneYear 2021-12-31 00559422 uk-core:WithinOneYear 2022-12-31 00559422 uk-core:AfterOneYear 2021-12-31 00559422 uk-core:AfterOneYear 2022-12-31 00559422 uk-core:ShareCapital 2022-12-31 00559422 uk-core:ShareCapital 2021-12-31 00559422 uk-core:RevaluationReserve 2022-12-31 00559422 uk-core:RevaluationReserve 2021-12-31 00559422 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 00559422 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 00559422 uk-core:OtherMiscellaneousReserve 2022-12-31 00559422 uk-bus:Director1 2022-01-01 2022-12-31 00559422 uk-core:Land 2022-01-01 2022-12-31 00559422 uk-core:PlantMachinery 2022-01-01 2022-12-31 00559422 uk-core:PlantMachinery 2021-12-31 00559422 uk-core:Land 2021-12-31 00559422 uk-core:Land 2022-12-31 00559422 uk-core:PlantMachinery 2022-12-31 00559422 uk-core:CostValuation 2021-12-31 00559422 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2021-12-31 00559422 uk-core:AdditionsToInvestments 2022-12-31 00559422 uk-core:AdditionsToInvestments uk-core:Non-currentFinancialInstruments 2022-12-31 00559422 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2022-12-31 00559422 uk-core:CostValuation 2022-12-31 00559422 uk-core:Non-currentFinancialInstruments 2022-12-31 00559422 uk-core:Non-currentFinancialInstruments 2021-12-31 iso4217:GBP xbrli:pure 00559422 uk-bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 00559422 uk-bus:FRS102 2022-01-01 2022-12-31 00559422 uk-bus:FullAccounts 2022-01-01 2022-12-31 00559422 uk-bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31
J O Adams and Son Ltd
Registered Number:00559422
For the year ended 31 December 2022
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2022
J O Adams and Son Ltd
Contents Page
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Statement of Financial Position
3 to 5
Notes to the Financial Statements
3
Registered Number :
00559422
As at 31 December 2022
J O Adams and Son Ltd
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
6,242,287
6,292,678
2
Financial assets
864,798
1,285,000
3
7,527,287
7,157,476
Current assets
Inventories
358,236
400,135
4
Trade and other receivables
378,018
431,396
5
Financial assets
1,478,220
-
6
307,194
Cash and cash equivalents
73,511
905,042
2,521,668
Trade and other payables: amounts falling due within one
year
(2,675,774)
(2,740,023)
7
(154,106)
(1,834,981)
Net current liabilities
Total assets less current liabilities
5,692,306
7,003,370
Trade and other payables: amounts falling due after more
than one year
(1,169,949)
(1,178,161)
8
(17,254)
(17,254)
Provisions for liabilities
4,496,891
Net assets
5,816,167
Capital and reserves
Called up share capital
19,000
19,000
Revaluation reserve
420,202
-
9
Retained earnings
4,050,689
5,790,167
Other reserves
7,000
7,000
4,496,891
5,816,167
Shareholders' funds
For the year ended 31 December 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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 Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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Registered Number :
00559422
For the year ended 31 December 2022
J O Adams and Son Ltd
Statement of Financial Position Continued
J. O. Adams Director
These financial statements were approved and authorised for issue by the Board on 29 September 2023 and were signed by:
The notes form part of these financial statements
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For the year ended 31 December 2022
J O Adams and Son Ltd
Notes to the Financial Statements
Statutory Information
J O Adams and Son Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 00559422.
Registered address:
Park House Farm
Watford
Northampton
NN6 7UT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
2 Reducing balance
Plant and machinery
20 Reducing balance
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work done after provision for contingencies and any anticipated future losses on contracts, less amounts received as progress payments on account. Any excess progress payments are included in creditors as payments on account.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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For the year ended 31 December 2022
J O Adams and Son Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Plant and
machinery
Land and
buildings
£
£
£
Cost or
valuation
At 01 January 2022
8,383,836
1,965,865
6,417,971
(187,489)
(987)
Disposals
(188,476)
At 31 December 2022
6,416,984
1,778,376
8,195,360
Provision for depreciation and impairment
At 01 January 2022
2,091,158
1,830,556
260,602
Charge for year
2,351
-
2,351
(140,436)
(140,436)
-
On disposal
At 31 December 2022
1,953,073
1,690,120
262,953
At 31 December 2022
Net book value
6,154,031
88,256
6,242,287
At 31 December 2021
6,157,369
135,309
6,292,678
3. Investments held as fixed assets
Other investments
Total
At 01 January 2022
864,798
864,798
Cost
£
£
420,202
420,202
Additions
At 31 December 2022
1,285,000
1,285,000
At 31 December 2022
Net book value
1,285,000
1,285,000
At 01 January 2022
864,798
864,798
4. Inventories
2021
2022
£
£
Stocks
400,135
358,236
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For the year ended 31 December 2022
J O Adams and Son Ltd
Notes to the Financial Statements Continued
5. Trade and other receivables
2021
2022
£
£
Trade debtors
100,842
161,893
Other debtors
330,554
216,125
378,018
431,396
6. Financial instruments at fair value
2021
2022
£
£
Other investments
-
1,478,220
7. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Trade creditors
-
3,318
Taxation and social security
1,128
47,260
Other creditors
2,738,895
2,625,196
2,740,023
2,675,774
8. Trade and other payables: amounts falling due after more than one year
2021
2022
£
£
Bank loans and overdraft (secured)
8,212
-
Other creditors
1,169,949
1,169,949
1,178,161
1,169,949
9. Reserves
Total
£
Revaluation reserve at 01 January 2022
-
Revaluation of fixed assets
420,202
420,202
Revaluation reserve at 31 December 2022
10. Average number of persons employed
During the year the average number of employees was 0 (2021 : 6)
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