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REGISTERED NUMBER: 01316639 (England and Wales)











M J ADAMS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






M J ADAMS LIMITED (REGISTERED NUMBER: 01316639)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


M J ADAMS LIMITED (REGISTERED NUMBER: 01316639)

ABRIDGED BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 732 427
Investments 5 242,389 319,617
Investment property 6 3,395,000 3,395,000
3,638,121 3,715,044

CURRENT ASSETS
Debtors 8,400 3,128
Prepayments and accrued income 4,179 5,390
Cash at bank 535,285 386,016
547,864 394,534
CREDITORS
Amounts falling due within one year 23,366 21,570
NET CURRENT ASSETS 524,498 372,964
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,162,619

4,088,008

PROVISIONS FOR LIABILITIES (330,523 ) (326,732 )

ACCRUALS AND DEFERRED INCOME (34,225 ) (23,835 )
NET ASSETS 3,797,871 3,737,441

CAPITAL AND RESERVES
Called up share capital 7 10,000 10,000
Fair value reserve 8 1,912,317 1,912,317
Retained earnings 1,875,554 1,815,124
SHAREHOLDERS' FUNDS 3,797,871 3,737,441

M J ADAMS LIMITED (REGISTERED NUMBER: 01316639)

ABRIDGED BALANCE SHEET - continued
31 MAY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





M J Adams - Director


M J ADAMS LIMITED (REGISTERED NUMBER: 01316639)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

M J Adams Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01316639

Registered office: Ashley House
Harrington Road
Loddington
Kettering
Northamptonshire
NN14 1JZ

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about M J Adams 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.

Turnover
Turnover represents amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 50% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is included at fair value. Gains are recognised in the profit or loss statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.

M J ADAMS LIMITED (REGISTERED NUMBER: 01316639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 7,433
Additions 904
Disposals (1,355 )
At 31 May 2023 6,982
DEPRECIATION
At 1 June 2022 7,006
Charge for year 599
Eliminated on disposal (1,355 )
At 31 May 2023 6,250
NET BOOK VALUE
At 31 May 2023 732
At 31 May 2022 427

M J ADAMS LIMITED (REGISTERED NUMBER: 01316639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 June 2022 319,617
Additions 1,298
Revaluations 14,723
Exchange differences 15,530
Reclassification/transfer (108,779 )
At 31 May 2023 242,389
NET BOOK VALUE
At 31 May 2023 242,389
At 31 May 2022 319,617

Cost or valuation at 31 May 2023 is represented by:
Totals
£   
Valuation in 2022 227,389
Cost 15,000
242,389

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 3,395,000
NET BOOK VALUE
At 31 May 2023 3,395,000
At 31 May 2022 3,395,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2008 1,294,631
Valuation in 2021 945,000
Cost 1,155,369
3,395,000

Investment property was valued on an open market basis on 5 March 2021 by Drake Commercial .

M J ADAMS LIMITED (REGISTERED NUMBER: 01316639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1.00 10,000 10,000

8. RESERVES
Fair
value
reserve
£   
At 1 June 2022
and 31 May 2023 1,912,317