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REGISTERED NUMBER: 03548700 (England and Wales)













Adamtech Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






Adamtech Limited (Registered number: 03548700)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Adamtech Limited

Company Information
for the year ended 31 May 2023







DIRECTORS: I K Adams
Mrs M A Adams





SECRETARY: Mrs M A Adams





REGISTERED OFFICE: 7b Whitebridge Estate
Stone
Staffordshire
ST15 8LQ





REGISTERED NUMBER: 03548700 (England and Wales)





ACCOUNTANTS: Slaters & Co Accountants
Lymore Villa
162a London Road
Chesterton
Newcastle
Staffordshire
ST5 7JB

Adamtech Limited (Registered number: 03548700)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,030 1,030
Tangible assets 5 241,815 265,950
242,845 266,980

CURRENT ASSETS
Stocks 299,188 230,165
Debtors 6 605,639 298,204
Cash at bank and in hand 99,075 201,702
1,003,902 730,071
CREDITORS
Amounts falling due within one year 7 396,378 270,025
NET CURRENT ASSETS 607,524 460,046
TOTAL ASSETS LESS CURRENT
LIABILITIES

850,369

727,026

CREDITORS
Amounts falling due after more than one
year

8

(51,812

)

(95,176

)

PROVISIONS FOR LIABILITIES (45,945 ) (39,619 )
NET ASSETS 752,612 592,231

Adamtech Limited (Registered number: 03548700)

Balance Sheet - continued
31 May 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 11
Capital redemption reserve 11 11
Retained earnings 752,590 592,209
SHAREHOLDERS' FUNDS 752,612 592,231

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2023 and were signed on its behalf by:





I K Adams - Director


Adamtech Limited (Registered number: 03548700)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Adamtech Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

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

Research and development
Research expenditure is written off the the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same year unless the directors are satisfied as to the technical. commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.

Foreign currencies
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 13 ) .

Adamtech Limited (Registered number: 03548700)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022
and 31 May 2023 1,030
NET BOOK VALUE
At 31 May 2023 1,030
At 31 May 2022 1,030

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2022 455,300 20,199 32,533 508,032
Additions 17,577 - 961 18,538
At 31 May 2023 472,877 20,199 33,494 526,570
DEPRECIATION
At 1 June 2022 206,728 10,553 24,801 242,082
Charge for year 39,922 1,447 1,304 42,673
At 31 May 2023 246,650 12,000 26,105 284,755
NET BOOK VALUE
At 31 May 2023 226,227 8,199 7,389 241,815
At 31 May 2022 248,572 9,646 7,732 265,950

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 576,664 271,295
Other debtors 28,975 26,909
605,639 298,204

Adamtech Limited (Registered number: 03548700)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 39,500 39,500
Hire purchase contracts 3,865 17,142
Trade creditors 173,815 112,190
Taxation and social security 162,713 87,541
Other creditors 16,485 13,652
396,378 270,025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 49,375 88,875
Hire purchase contracts 2,437 6,301
51,812 95,176