Registered Number:00559422 |
For the year ended 31 December 2022
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2022
J O Adams and Son Ltd
Contents Page
1 to 2
Statement of Financial Position
3 to 5
Notes to the Financial Statements
J O Adams and Son Ltd
Statement of Financial Position
2021
2022
Property, plant and equipment |
6,242,287
6,292,678
2
864,798
1,285,000
3
7,527,287
7,157,476
358,236
400,135
4
Trade and other receivables |
378,018
431,396
5
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
19,000
19,000
420,202
-
9
4,050,689
5,790,167
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. |
1 of 5
For the year ended 31 December 2022
J O Adams and Son Ltd
Statement of Financial Position Continued
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 |
2 of 5
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. |
Park House Farm
Watford
Northampton
NN6 7UT
The presentation currency is £ sterling. |
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
Plant and machinery
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.
3 of 5
For the year ended 31 December 2022
J O Adams and Son Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment |
8,383,836
1,965,865
6,417,971
(187,489)
(987)
(188,476)
6,416,984
1,778,376
8,195,360
Provision for depreciation and impairment |
2,091,158
1,830,556
260,602
Charge for year
2,351
-
2,351
(140,436)
(140,436)
-
1,953,073
1,690,120
262,953
6,154,031
88,256
6,242,287
6,157,369
135,309
6,292,678
3. Investments held as fixed assets |
864,798
864,798
420,202
420,202
1,285,000
1,285,000
1,285,000
1,285,000
864,798
864,798
2021
2022
400,135
358,236
4 of 5
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
100,842
161,893
330,554
216,125
378,018
431,396
6. Financial instruments at fair value |
2021
2022
-
1,478,220
7. Trade and other payables: amounts falling due within one year |
2021
2022
-
3,318
Taxation and social security |
1,128
47,260
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
-
1,169,949
1,169,949
1,178,161
1,169,949
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)
5 of 5