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REGISTERED NUMBER: 05878408 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ADAMS ENCLOSURES LIMITED

ADAMS ENCLOSURES LIMITED (REGISTERED NUMBER: 05878408)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADAMS ENCLOSURES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr W D Adams
Mrs A Adams
Mr S Banks
Mr T Adams





SECRETARY: Mrs A Adams





REGISTERED OFFICE: Units 9-12 Maybrook Industrial Estate
Brownhills
Walsall
West Midlands
WS8 7DG





REGISTERED NUMBER: 05878408 (England and Wales)





ACCOUNTANTS: Rice & Co (Brownhills) Limited
Chartered Accountants
90 High Street
Brownhills
Walsall
West Midlands
WS8 6EW

ADAMS ENCLOSURES LIMITED (REGISTERED NUMBER: 05878408)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 461,613 488,226

CURRENT ASSETS
Stocks 75,000 75,000
Debtors 5 1,739,593 1,636,099
Cash at bank and in hand 94,402 270,105
1,908,995 1,981,204
CREDITORS
Amounts falling due within one year 6 1,558,482 1,766,463
NET CURRENT ASSETS 350,513 214,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

812,126

702,967

CREDITORS
Amounts falling due after more than one
year

7

(132,327

)

(198,447

)

PROVISIONS FOR LIABILITIES (88,319 ) (74,818 )
NET ASSETS 591,480 429,702

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 561,480 399,702
SHAREHOLDERS' FUNDS 591,480 429,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

ADAMS ENCLOSURES LIMITED (REGISTERED NUMBER: 05878408)

BALANCE SHEET - continued
31 March 2024


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 19 August 2024 and were signed on its behalf by:





Mr T Adams - Director


ADAMS ENCLOSURES LIMITED (REGISTERED NUMBER: 05878408)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Adams Enclosures 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover is recognised when goods have been delivered to customers, or services completed, such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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.

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.

ADAMS ENCLOSURES LIMITED (REGISTERED NUMBER: 05878408)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2023 - 60 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Property Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 April 2023 120,909 1,483,933 69,387
Additions - 47,152 5,354
At 31 March 2024 120,909 1,531,085 74,741
DEPRECIATION
At 1 April 2023 63,411 1,163,676 60,599
Charge for year 12,090 91,852 3,535
At 31 March 2024 75,501 1,255,528 64,134
NET BOOK VALUE
At 31 March 2024 45,408 275,557 10,607
At 31 March 2023 57,498 320,257 8,788

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 148,602 97,049 1,919,880
Additions 62,390 9,316 124,212
At 31 March 2024 210,992 106,365 2,044,092
DEPRECIATION
At 1 April 2023 64,902 79,066 1,431,654
Charge for year 36,523 6,825 150,825
At 31 March 2024 101,425 85,891 1,582,479
NET BOOK VALUE
At 31 March 2024 109,567 20,474 461,613
At 31 March 2023 83,700 17,983 488,226

ADAMS ENCLOSURES LIMITED (REGISTERED NUMBER: 05878408)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,706,689 1,602,247
Prepayments 32,904 33,852
1,739,593 1,636,099

At 31 March 2024, trade debtors totalling £1,706,689 (2023 £1,602,247) had been sold without recourse. These debtors are included above and the related funding is included in finance debt.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 111,307 595,295
Trade creditors 829,451 734,162
Corporation tax 254,797 141,617
Social security and other taxes 32,181 31,665
VAT 242,328 177,854
Other creditors 12,918 4,770
Accrued expenses 75,500 81,100
1,558,482 1,766,463

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 66,375 66,119
Bank loans - 2-5 years 65,952 132,328
132,327 198,447

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 45,188 529,425
Bank loans 198,446 264,317
243,634 793,742

The bank loan & overdraft, is secured by a legal mortgage and debenture dated 26 November 2012 for all money and liabilities whatsoever, whenever and howsoever incurred by the company whether now or in the future.

The hire purchase liabilities are secured against the assets to which they relate.

9. ULTIMATE CONTROLLING PARTY

The company is under the control of Aadams Holdings Ltd, who own the
entire issued share capital.