REGISTERED NUMBER: |
H. H. ADKINS (CONTRACTORS) LIMITED |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JANUARY 2023 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
(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: |
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 £ |
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 |
8,025 | 8,025 |
2 | 2 |
Preference shares of £1 each |
9,400 | 9,400 |
- | - |
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: |
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. |
for and on behalf of |
(Statutory Auditor) |
Rollestone House |
Bridge Street |
Horncastle |
Lincolnshire |
LN9 5HZ |
H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881) |
INCOME STATEMENT |
FOR THE YEAR ENDED 29 JANUARY 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Other operating income |
6,119,923 | 7,983,669 |
Raw materials and consumables | ( |
) | ( |
) |
Other external expenses | ( |
) | ( |
) |
2,269,346 | 2,548,810 |
Staff costs | 2 | ( |
) | ( |
) |
Depreciation | ( |
) | ( |
) |
Other operating expenses | ( |
) | ( |
) |
OPERATING PROFIT | 3 |
Interest receivable and similar income |
105,383 | 351,227 |
Interest payable and similar expenses | 4 | ( |
) | ( |
) |
PROFIT BEFORE TAXATION |
Tax on profit | 5 | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
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 |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
H. H. ADKINS (CONTRACTORS) LIMITED (REGISTERED NUMBER: 00601881) |
BALANCE SHEET |
29 JANUARY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 12 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Retained earnings | 14 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 29 January 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 29 January 2023 |
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 | ( |
) |
Interest paid | ( |
) | ( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities | ( |
) |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) |
Cash flows from financing activities |
Amount introduced by directors | 5,130 | 5,247 |
Amount withdrawn by directors | - | (250 | ) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
4,179,786 |
Cash and cash equivalents at end of year | 2 | 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 |
Depreciation charges |
Profit on disposal of fixed assets | ( |
) |
Finance costs | 2,281 | 2,867 |
Finance income | (27,470 | ) | (24,863 | ) |
117,994 | 357,265 |
(Increase)/decrease in stocks | ( |
) |
Increase in trade and other debtors | ( |
) | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations | ( |
) |
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 | ( |
) |
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 | ( |
) | 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 |
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 |
Freehold property | - |
Plant and machinery | - |
Office equipment | - |
Motor vehicles | - |
Computer software | - |
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 |
Social security costs |
Other pension costs |
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 |
2023 | 2022 |
£ | £ |
Directors' remuneration |
3. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Hire of plant and machinery |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) |
Auditors' remuneration |
Auditors' remuneration for non audit work |
4. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2023 | 2022 |
£ | £ |
PAYE/NIC interest |
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 |
Under / (Overprovision) in |
previous year | - | (68,570 | ) |
Total current tax | ( |
) |
Deferred tax | ( |
) |
Tax on profit | ( |
) |
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 |
Profit multiplied by the standard rate of corporation tax in the UK of (2022 - |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) |
Depreciation in excess of capital allowances |
Adjustments to tax charge in respect of previous periods | ( |
) |
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 |
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 |
Additions |
At 29 January 2023 |
DEPRECIATION |
At 30 January 2022 |
Charge for year |
At 29 January 2023 |
NET BOOK VALUE |
At 29 January 2023 |
At 29 January 2022 |
Motor | Computer |
vehicles | software | Totals |
£ | £ | £ |
COST |
At 30 January 2022 |
Additions |
At 29 January 2023 |
DEPRECIATION |
At 30 January 2022 |
Charge for year |
At 29 January 2023 |
NET BOOK VALUE |
At 29 January 2023 |
At 29 January 2022 |
8. | STOCKS |
2023 | 2022 |
£ | £ |
Raw materials |
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 |
Amounts recoverable on contract |
Other debtors and prepayments |
Tax |
Amounts falling due after more than one year: |
Trade debtors |
Amounts recoverable on contract |
Aggregate amounts |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 11) |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 164,116 | 458,545 |
Other creditors and accruals |
Directors' current accounts | 13,073 | 7,943 |
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 |
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 |
Credit to Income Statement during year | ( |
) |
Balance at 29 January 2023 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 8,027 | 8,027 |
Preference | £1 | 9,400 | 9,400 |
17,427 | 17,427 |
14. | RESERVES |
Retained |
earnings |
£ |
At 30 January 2022 |
Profit for the year |
Dividends | ( |
) |
At 29 January 2023 |
15. | ULTIMATE CONTROLLING PARTY |
The controlling party is C R Pape. |