IRIS Accounts Production v23.3.0.418 00601881 Board of Directors 30.1.22 29.1.23 29.1.23 The principal activity of the company during the year continues to be that of building and contracting. true false true true false false true false Ordinary 1.00000 Preference 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh006018812022-01-29006018812023-01-29006018812022-01-302023-01-29006018812021-01-29006018812021-01-302022-01-29006018812022-01-2900601881ns10:Originalns15:EnglandWales2022-01-302023-01-2900601881ns14:PoundSterlingns10:Original2022-01-302023-01-2900601881ns10:Originalns10:Director12022-01-302023-01-2900601881ns10:Original2022-01-302023-01-2900601881ns10:Original2023-01-2900601881ns10:Originalns10:PrivateLimitedCompanyLtd2022-01-302023-01-2900601881ns10:Originalns10:FRS1022022-01-302023-01-2900601881ns10:Originalns10:Audited2022-01-302023-01-2900601881ns10:Originalns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-01-302023-01-2900601881ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Original2022-01-302023-01-2900601881ns10:Originalns10:FullAccounts2022-01-302023-01-2900601881ns10:Originalns10:OrdinaryShareClass12022-01-302023-01-2900601881ns10:Originalns10:OrdinaryShareClass22022-01-302023-01-2900601881ns10:Originalns10:Director22022-01-302023-01-2900601881ns10:CompanySecretary1ns10:Original2022-01-302023-01-2900601881ns10:Originalns10:RegisteredOffice2022-01-302023-01-2900601881ns10:Original2021-01-302022-01-2900601881ns10:Original2022-01-2900601881ns10:Originalns5:CurrentFinancialInstruments2023-01-2900601881ns10:Originalns5:CurrentFinancialInstruments2022-01-2900601881ns5:ShareCapitalns10:Original2023-01-2900601881ns5:ShareCapitalns10:Original2022-01-2900601881ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-2900601881ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-2900601881ns5:ShareCapitalns10:Original2021-01-2900601881ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-01-2900601881ns10:Original2021-01-2900601881ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-01-302022-01-2900601881ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-302023-01-2900601881ns10:Original2022-01-2900601881ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-01-302023-01-2900601881ns10:Originalns5:PlantMachinery2022-01-302023-01-2900601881ns10:Originalns5:FurnitureFittings2022-01-302023-01-2900601881ns10:Originalns5:MotorVehicles2022-01-302023-01-2900601881ns10:Originalns5:ComputerEquipment2022-01-302023-01-2900601881ns10:Originalns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-01-302023-01-2900601881ns10:Originalns5:PlantEquipmentOtherAssetsUnderOperatingLeases2021-01-302022-01-2900601881ns5:OwnedAssetsns10:Original2022-01-302023-01-2900601881ns5:OwnedAssetsns10:Original2021-01-302022-01-29006018812ns10:Original2022-01-302023-01-29006018812ns10:Original2021-01-302022-01-2900601881ns10:Originalns10:OrdinaryShareClass12021-01-302022-01-2900601881ns10:Originalns5:LandBuildings2022-01-2900601881ns10:Originalns5:PlantMachinery2022-01-2900601881ns10:Originalns5:FurnitureFittings2022-01-2900601881ns10:Originalns5:LandBuildings2022-01-302023-01-2900601881ns10:Originalns5:LandBuildings2023-01-2900601881ns10:Originalns5:PlantMachinery2023-01-2900601881ns10:Originalns5:FurnitureFittings2023-01-2900601881ns10:Originalns5:LandBuildings2022-01-2900601881ns10:Originalns5:PlantMachinery2022-01-2900601881ns10:Originalns5:FurnitureFittings2022-01-2900601881ns10:Originalns5:MotorVehicles2022-01-2900601881ns10:Originalns5:ComputerEquipment2022-01-2900601881ns10:Originalns5:MotorVehicles2023-01-2900601881ns10:Originalns5:ComputerEquipment2023-01-2900601881ns10:Originalns5:MotorVehicles2022-01-2900601881ns10:Originalns5:ComputerEquipment2022-01-2900601881ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-2900601881ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-2900601881ns10:Originalns5:Non-currentFinancialInstruments2023-01-2900601881ns10:Originalns5:Non-currentFinancialInstruments2022-01-2900601881ns10:Originalns5:DeferredTaxation2022-01-2900601881ns10:Originalns5:DeferredTaxation2022-01-302023-01-2900601881ns10:Originalns5:DeferredTaxation2023-01-2900601881ns10:Originalns10:OrdinaryShareClass12023-01-2900601881ns10:Originalns10:OrdinaryShareClass22023-01-2900601881ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-29
REGISTERED NUMBER: 00601881 (England and Wales)












H. H. ADKINS (CONTRACTORS) LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 JANUARY 2023






H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JANUARY 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


H. H. ADKINS (CONTRACTORS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 JANUARY 2023







DIRECTORS: C R Pape
Mrs J Pape



SECRETARY: Mrs J Pape



REGISTERED OFFICE: Wyberton West Road
Boston
Lincolnshire
PE21 7JU



REGISTERED NUMBER: 00601881 (England and Wales)



SENIOR STATUTORY AUDITOR: Mrs Nicola Michelle Lenton FCCA



AUDITORS: Dexter & Sharpe Audit Services Ltd
(Statutory Auditor)
Rollestone House
Bridge Street
Horncastle
Lincolnshire
LN9 5HZ

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

STRATEGIC REPORT
FOR THE YEAR ENDED 29 JANUARY 2023


The directors present their strategic report for the year ended 29 January 2023.

The principal activity of the company during the year continues to be that of building and contracting.

REVIEW OF BUSINESS
Considering the present economic conditions and the exceptional volatile materials prices experienced in the year the directors are satisfied with the results achieved during such a challenging year.
Fortunately profits have been retained in past years and a large proportion "ring fenced" to finance large projects proposed and planned to proceed, when required to supplement the general contracting business normally carried out.

Feedback from our clients indicates the supplement will not be required at present as they anticipate proceeding with projects already planned with ourselves for the future

PRINCIPAL RISKS AND UNCERTAINTIES
The company operates in challenging economic climate in which the level of contract orders depends on the level of confidence in the market place, allowing organisations to undertake building and capital investment projects. As such the management of the company's business and the execution of the company's strategies are subject to a number of risks:

- The strength of the economy and in particular the level of expansion confidence amongst our customer base ;
- The availability and cost of finance available to our customers to undertake projects;
- The strength of local competition.

The Company has been established for 78 years and has been successfully managed through a number of recessions illustrating management's ability in so far as is possible to address these risks. Our strong relationships with our customers contributes to the successful management of these risks.

The Company has a strong balance sheet and a high level of liquid reserves and accordingly liquidity and interest rate risks are not significant.

There is always the possibility of credit risk associated with amounts recoverable under contracts and trade debtors where the company minimises the risk of loss through strong management of contracts in progress and maintaining a close contact with the customers during the course of the contracts.

KEY PERFORMANCE INDICATORS
We consider our key financial performance indicators to be measured by turnover, operating profit and our overhead recovery rate.

ON BEHALF OF THE BOARD:





C R Pape - Director


26 October 2023

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 JANUARY 2023


The directors present their report with the financial statements of the company for the year ended 29 January 2023.

DIVIDENDS
An interim dividend of 24.922p per share was paid on the Ordinary £1 shares on 29 January 2023. No dividends were paid on the Preference £1 shares.

The total distribution of dividends for the year ended 29 January 2023 will be £ 2,000 .

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 30 January 2022 to the date of this report.

The beneficial interests of the directors holding office at 29 January 2023 in the shares of the company, according to the register of directors' interests, were as follows:

29.1.23 30.1.22
Ordinary shares of £1 each
C R Pape 8,025 8,025
Mrs J Pape 2 2

Preference shares of £1 each
C R Pape 9,400 9,400
Mrs J Pape - -

These directors did not hold any non-beneficial interests in any of the shares of the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 JANUARY 2023


AUDITORS
The auditors, Dexter & Sharpe Audit Services Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C R Pape - Director


26 October 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
H. H. ADKINS (CONTRACTORS) LIMITED


Opinion
We have audited the financial statements of H. H. Adkins (Contractors) Limited (the 'company') for the year ended 29 January 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 29 January 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
H. H. ADKINS (CONTRACTORS) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- we have enquired of those charged with governance around actual and potential litigation and claims.
- we have reviewed financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- enquired of staff engaged in the completion of VAT, tax and compliance work to identify any instances of non compliance with laws and regulations.
- audited the risk of management override of controls including review of journal entries and large or unusual transaction, evaluating the business rationale of any significant transactions outside the course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.




Mrs Nicola Michelle Lenton FCCA (Senior Statutory Auditor)
for and on behalf of Dexter & Sharpe Audit Services Ltd
(Statutory Auditor)
Rollestone House
Bridge Street
Horncastle
Lincolnshire
LN9 5HZ

26 October 2023

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

INCOME STATEMENT
FOR THE YEAR ENDED 29 JANUARY 2023

2023 2022
Notes £    £   

TURNOVER 6,107,123 7,784,179

Other operating income 12,800 199,490
6,119,923 7,983,669

Raw materials and consumables (2,432,952 ) (3,363,574 )
Other external expenses (1,417,625 ) (2,071,285 )
2,269,346 2,548,810

Staff costs 2 (1,827,305 ) (1,923,080 )
Depreciation (40,081 ) (33,670 )
Other operating expenses (324,047 ) (265,696 )
OPERATING PROFIT 3 77,913 326,364

Interest receivable and similar income 27,470 24,863
105,383 351,227

Interest payable and similar expenses 4 (2,281 ) (2,867 )
PROFIT BEFORE TAXATION 103,102 348,360

Tax on profit 5 (17,739 ) 6,113
PROFIT FOR THE FINANCIAL YEAR 85,363 354,473

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 29 JANUARY 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 85,363 354,473


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

85,363

354,473

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

BALANCE SHEET
29 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 277,281 304,412

CURRENT ASSETS
Stocks 8 42,018 8,778
Debtors 9 3,932,458 2,849,572
Cash at bank and in hand 2,817,807 4,598,054
6,792,283 7,456,404
CREDITORS
Amounts falling due within one year 10 640,167 1,411,875
NET CURRENT ASSETS 6,152,116 6,044,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,429,397

6,348,941

PROVISIONS FOR LIABILITIES 12 8,235 11,142
NET ASSETS 6,421,162 6,337,799

CAPITAL AND RESERVES
Called up share capital 13 17,427 17,427
Retained earnings 14 6,403,735 6,320,372
SHAREHOLDERS' FUNDS 6,421,162 6,337,799

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





C R Pape - Director


H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 JANUARY 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 30 January 2021 17,427 5,967,899 5,985,326

Changes in equity
Dividends - (2,000 ) (2,000 )
Total comprehensive income - 354,473 354,473
Balance at 29 January 2022 17,427 6,320,372 6,337,799

Changes in equity
Dividends - (2,000 ) (2,000 )
Total comprehensive income - 85,363 85,363
Balance at 29 January 2023 17,427 6,403,735 6,421,162

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 29 JANUARY 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (1,772,740 ) 460,925
Interest paid (2,281 ) (2,867 )
Tax paid (61,500 ) (20,197 )
Net cash from operating activities (1,836,521 ) 437,861

Cash flows from investing activities
Purchase of tangible fixed assets (12,950 ) (54,103 )
Sale of tangible fixed assets - 6,650
Interest received 27,470 24,863
Net cash from investing activities 14,520 (22,590 )

Cash flows from financing activities
Amount introduced by directors 5,130 5,247
Amount withdrawn by directors - (250 )
Equity dividends paid (2,000 ) (2,000 )
Net cash from financing activities 3,130 2,997

(Decrease)/increase in cash and cash equivalents (1,818,871 ) 418,268
Cash and cash equivalents at beginning of
year

2

4,598,054

4,179,786

Cash and cash equivalents at end of year 2 2,779,183 4,598,054

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 29 JANUARY 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 103,102 348,360
Depreciation charges 40,081 33,670
Profit on disposal of fixed assets - (2,769 )
Finance costs 2,281 2,867
Finance income (27,470 ) (24,863 )
117,994 357,265
(Increase)/decrease in stocks (33,240 ) 7,290
Increase in trade and other debtors (1,082,886 ) (234,543 )
(Decrease)/increase in trade and other creditors (774,608 ) 330,913
Cash generated from operations (1,772,740 ) 460,925

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29 January 2023
29.1.23 30.1.22
£    £   
Cash and cash equivalents 2,817,807 4,598,054
Bank overdrafts (38,624 ) -
2,779,183 4,598,054
Year ended 29 January 2022
29.1.22 30.1.21
£    £   
Cash and cash equivalents 4,598,054 4,179,786


3. ANALYSIS OF CHANGES IN NET FUNDS

At 30.1.22 Cash flow At 29.1.23
£    £    £   
Net cash
Cash at bank and in hand 4,598,054 (1,780,247 ) 2,817,807
Bank overdrafts - (38,624 ) (38,624 )
4,598,054 (1,818,871 ) 2,779,183
Total 4,598,054 (1,818,871 ) 2,779,183

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JANUARY 2023


1. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 12.5% on reducing balance
Office equipment - 12.5% on reducing balance
Motor vehicles - 25% on reducing balance
Computer software - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2023


1. ACCOUNTING POLICIES - continued

Construction contracts
Revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. The estimate of the contract revenue earned at the balance sheet date is based on applying the expected profit margin on the contract to the costs incurred to date. The estimate is significant to the financial statements and is based on the directors detailed knowledge of each contract.

Losses on contracts are recognised in full when identified.

Work in progress is classified in current debtors as amounts recoverable on contracts. Contract costs include costs directly related to the contracts plus overheads which are allocated to the contract in proportion to the direct costs.

2. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,608,920 1,701,137
Social security costs 180,549 188,872
Other pension costs 37,836 33,071
1,827,305 1,923,080

The average number of employees during the year was as follows:
2023 2022

Office and management staff 14 14
Building and contracting staff 32 37
46 51

2023 2022
£    £   
Directors' remuneration 105,140 103,852

3. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 186,439 240,160
Depreciation - owned assets 40,081 33,669
Profit on disposal of fixed assets - (2,769 )
Auditors' remuneration 8,500 7,750
Auditors' remuneration for non audit work 18,014 22,005

4. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
PAYE/NIC interest 2,281 2,867

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2023


5. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 20,646 61,500
Under / (Overprovision) in
previous year - (68,570 )
Total current tax 20,646 (7,070 )

Deferred tax (2,907 ) 957
Tax on profit 17,739 (6,113 )

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 103,102 348,360
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

19,589

66,188

Effects of:
Expenses not deductible for tax purposes 1,882 -
Income not taxable for tax purposes - (526 )
Depreciation in excess of capital allowances 3,400 286
Adjustments to tax charge in respect of previous periods - (68,570 )
Unrecognised deferred tax (2,907 ) 957
Financial instruments (4,659 ) (4,448 )
Expenses disallowed 434 -
Total tax charge/(credit) 17,739 (6,113 )

6. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 2,000 2,000

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2023


7. TANGIBLE FIXED ASSETS
Freehold Plant and Office
property machinery equipment
£    £    £   
COST
At 30 January 2022 174,537 471,338 47,737
Additions - - -
At 29 January 2023 174,537 471,338 47,737
DEPRECIATION
At 30 January 2022 36,851 401,334 44,211
Charge for year 2,596 9,151 441
At 29 January 2023 39,447 410,485 44,652
NET BOOK VALUE
At 29 January 2023 135,090 60,853 3,085
At 29 January 2022 137,686 70,004 3,526

Motor Computer
vehicles software Totals
£    £    £   
COST
At 30 January 2022 402,143 1,047 1,096,802
Additions 12,950 - 12,950
At 29 January 2023 415,093 1,047 1,109,752
DEPRECIATION
At 30 January 2022 308,947 1,047 792,390
Charge for year 27,893 - 40,081
At 29 January 2023 336,840 1,047 832,471
NET BOOK VALUE
At 29 January 2023 78,253 - 277,281
At 29 January 2022 93,196 - 304,412

8. STOCKS
2023 2022
£    £   
Raw materials 42,018 8,778

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2023


9. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 961,643 1,144,234
Amounts recoverable on contract 1,705,951 447,854
Other debtors and prepayments 13,411 16,627
Tax 34,901 34,901
2,715,906 1,643,616

Amounts falling due after more than one year:
Trade debtors 962,930 959,932
Amounts recoverable on contract 253,622 246,024
1,216,552 1,205,956

Aggregate amounts 3,932,458 2,849,572

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) 38,624 -
Trade creditors 245,457 524,598
Corporation tax 20,646 61,500
Social security and other taxes 106,971 258,315
VAT 164,116 458,545
Other creditors and accruals 51,280 100,974
Directors' current accounts 13,073 7,943
640,167 1,411,875

11. OVERDRAFTS

An analysis of the maturity of overdrafts is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 38,624 -

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 8,235 11,142

H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2023


12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 30 January 2022 11,142
Credit to Income Statement during year (2,907 )
Balance at 29 January 2023 8,235

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
8,027 Ordinary £1 8,027 8,027
9,400 Preference £1 9,400 9,400
17,427 17,427

14. RESERVES
Retained
earnings
£   

At 30 January 2022 6,320,372
Profit for the year 85,363
Dividends (2,000 )
At 29 January 2023 6,403,735

15. ULTIMATE CONTROLLING PARTY

The controlling party is C R Pape.