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Company Registration No. NI605004 (Northern Ireland)
Adams Brothers Contractors Limited Unaudited accounts for the year ended 30 November 2023
Adams Brothers Contractors Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
158,716 
127,785 
Current assets
Debtors
5,208 
8,191 
Cash at bank and in hand
34,288 
50,110 
39,496 
58,301 
Creditors: amounts falling due within one year
(49,194)
(62,272)
Net current liabilities
(9,698)
(3,971)
Net assets
149,018 
123,814 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
149,016 
123,812 
Shareholders' funds
149,018 
123,814 
For the year ending 30 November 2023 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2024 and were signed on its behalf by
Arthur Adams Director Company Registration No. NI605004
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Adams Brothers Contractors Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Adams Brothers Contractors Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI605004. The registered office is 38 Lisnahilt Road, Broughshane, Ballymena, BT42 4QT, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The director believes that Adams Brothers Contractors Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.Turnover from the rendering of contracting services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing Balance
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Adams Brothers Contractors Limited Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2022
210,260 
Additions
51,000 
Disposals
(10,000)
At 30 November 2023
251,260 
Depreciation
At 1 December 2022
82,475 
Charge for the year
11,969 
On disposals
(1,900)
At 30 November 2023
92,544 
Net book value
At 30 November 2023
158,716 
At 30 November 2022
127,785 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
5,208 
8,191 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
6,175 
4,986 
Obligations under finance leases and hire purchase contracts
20,073 
- 
Trade creditors
- 
20,242 
Other creditors
10,395 
17,943 
Loans from directors
9,301 
9,301 
Accruals
3,250 
9,800 
49,194 
62,272 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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