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REGISTERED NUMBER: 00367171 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Adament Refractory Settings Limited

Adament Refractory Settings Limited (Registered number: 00367171)






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


Adament Refractory Settings Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mrs D Ainscow
Mr S M Duncan





SECRETARY: Mr S M Duncan





REGISTERED OFFICE: Units 3 and 4
Cocker Avenue
Poulton Industrial Estate
Poulton Le Fylde
FY6 8JJ





REGISTERED NUMBER: 00367171 (England and Wales)





ACCOUNTANTS: Higsons Limited
Accountants
Offices 1 and 2
1A King Street
Farnworth
Bolton
Greater Manchester
BL4 7AB

Adament Refractory Settings Limited (Registered number: 00367171)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,632 68,012

CURRENT ASSETS
Stocks 73,513 76,144
Debtors 5 186,623 120,537
Cash at bank 281,276 237,933
541,412 434,614
CREDITORS
Amounts falling due within one year 6 185,022 163,972
NET CURRENT ASSETS 356,390 270,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

410,022

338,654

PROVISIONS FOR LIABILITIES 8 10,689 12,441
NET ASSETS 399,333 326,213

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 394,333 321,213
SHAREHOLDERS' FUNDS 399,333 326,213

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.

Adament Refractory Settings Limited (Registered number: 00367171)

Balance Sheet - continued
31 May 2023


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 22 February 2024 and were signed on its behalf by:





Mrs D Ainscow - Director


Adament Refractory Settings Limited (Registered number: 00367171)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Adament Refractory Settings 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 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.
Improvements to property - 20% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation. At the balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered impairment losses, no such losses were identified.

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.

Adament Refractory Settings Limited (Registered number: 00367171)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors
Trade debtors includes the value of contractual work in progress.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2022 21,666 32,959 24,170
Additions - 4,200 -
Disposals - - -
At 31 May 2023 21,666 37,159 24,170
DEPRECIATION
At 1 June 2022 21,666 26,450 14,456
Charge for year - 991 971
Eliminated on disposal - - -
At 31 May 2023 21,666 27,441 15,427
NET BOOK VALUE
At 31 May 2023 - 9,718 8,743
At 31 May 2022 - 6,509 9,714

Adament Refractory Settings Limited (Registered number: 00367171)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 152,609 2,809 234,213
Additions - - 4,200
Disposals (66,975 ) - (66,975 )
At 31 May 2023 85,634 2,809 171,438
DEPRECIATION
At 1 June 2022 101,226 2,403 166,201
Charge for year 11,623 102 13,687
Eliminated on disposal (62,082 ) - (62,082 )
At 31 May 2023 50,767 2,505 117,806
NET BOOK VALUE
At 31 May 2023 34,867 304 53,632
At 31 May 2022 51,383 406 68,012

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 186,623 120,537

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 74,297 71,610
Taxation and social security 68,858 41,403
Other creditors 41,867 50,959
185,022 163,972

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.23 31.5.22
£    £   
Within one year 16,500 15,000

8. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax
Accelerated capital allowances 10,689 12,441

Adament Refractory Settings Limited (Registered number: 00367171)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 12,441
Credit to Income Statement during year (1,752 )
Balance at 31 May 2023 10,689

9. ULTIMATE CONTROLLING PARTY

Throughout the year the company was controlled by Mr S M Duncan, who was a director and the majority shareholder.