Acorah Software Products - Accounts Production 15.0.500 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 00559422 Mr Joshua Adams Mr Joseph Adams Mrs Emma Adams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00559422 2022-12-31 00559422 2023-12-31 00559422 2023-01-01 2023-12-31 00559422 frs-core:CurrentFinancialInstruments 2023-12-31 00559422 frs-core:Non-currentFinancialInstruments 2023-12-31 00559422 frs-core:FurnitureFittings 2023-12-31 00559422 frs-core:FurnitureFittings 2023-01-01 2023-12-31 00559422 frs-core:FurnitureFittings 2022-12-31 00559422 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 00559422 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00559422 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 00559422 frs-core:MotorVehicles 2023-12-31 00559422 frs-core:MotorVehicles 2023-01-01 2023-12-31 00559422 frs-core:MotorVehicles 2022-12-31 00559422 frs-core:PlantMachinery 2023-12-31 00559422 frs-core:PlantMachinery 2023-01-01 2023-12-31 00559422 frs-core:PlantMachinery 2022-12-31 00559422 frs-core:CapitalRedemptionReserve 2023-12-31 00559422 frs-core:RevaluationReserve 2023-01-01 2023-12-31 00559422 frs-core:RevaluationReserve 2022-12-31 00559422 frs-core:RevaluationReserve 2023-12-31 00559422 frs-core:ShareCapital 2023-12-31 00559422 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 00559422 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00559422 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 00559422 frs-bus:SmallEntities 2023-01-01 2023-12-31 00559422 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00559422 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00559422 frs-core:DeferredTaxation 2023-01-01 2023-12-31 00559422 frs-core:DeferredTaxation 2022-12-31 00559422 frs-core:DeferredTaxation 2023-12-31 00559422 frs-bus:Director1 2023-01-01 2023-12-31 00559422 frs-bus:Director2 2023-01-01 2023-12-31 00559422 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 00559422 frs-countries:EnglandWales 2023-01-01 2023-12-31 00559422 2021-12-31 00559422 2022-12-31 00559422 2022-01-01 2022-12-31 00559422 frs-core:CurrentFinancialInstruments 2022-12-31 00559422 frs-core:Non-currentFinancialInstruments 2022-12-31 00559422 frs-core:CapitalRedemptionReserve 2022-12-31 00559422 frs-core:RevaluationReserve 2022-12-31 00559422 frs-core:ShareCapital 2022-12-31 00559422 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 00559422
J.O.Adams & Son Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
AMEC Consultancy Limited
Chartered Accountants
9 Heath Way
Burton Latimer
Kettering
Northamptonshire
NN15 5YF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 00559422
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,529,799 6,242,287
Investment Properties 5 1,051,364 1,285,000
7,581,163 7,527,287
CURRENT ASSETS
Stocks 6 377,300 400,135
Debtors 7 609,512 321,643
Investments 8 378,496 378,496
Cash at bank and in hand 45,031 73,511
1,410,339 1,173,785
Creditors: Amounts Falling Due Within One Year 9 (2,435,738 ) (2,203,773 )
NET CURRENT ASSETS (LIABILITIES) (1,025,399 ) (1,029,988 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,555,764 6,497,299
Creditors: Amounts Falling Due After More Than One Year 10 (640,964 ) (640,964 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (40,440 ) (17,524 )
NET ASSETS 5,874,360 5,838,811
CAPITAL AND RESERVES
Called up share capital 13 19,000 19,000
Revaluation reserve 14 343,802 420,202
Capital redemption reserve 7,000 7,000
Profit and Loss Account 5,504,558 5,392,609
SHAREHOLDERS' FUNDS 5,874,360 5,838,811
Page 1
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For the year ending 31 December 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joshua Adams
Director
6th September 2024
The notes on pages 3 to 8 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
J.O.Adams & Son Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00559422 . The registered office is Park House, Watford Village,, Kilsby Road, Northampton, NN6 7UT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the requirements of the Companies Act 2006 as applicable to companiues subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Montary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments as fair value. The principal accounting polices adopted are set out below.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Straightline on Freehold Improvements
Plant & Machinery 20% Straight line
Motor Vehicles 20% Straight line
Fixtures & Fittings 20% Straight line
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2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 
Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Cash and cash equivalents
Cash and cash equivalents are basic financil assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interestmethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
...CONTINUED
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2.7. Financial Instruments - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
Page 5
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2023 6,416,984 1,596,909 155,619 32,423 8,201,935
Additions 48,025 163,890 130,586 44,973 387,474
As at 31 December 2023 6,465,009 1,760,799 286,205 77,396 8,589,409
Depreciation
As at 1 January 2023 262,953 1,510,134 155,619 30,942 1,959,648
Provided during the period 6,837 56,532 26,117 10,476 99,962
As at 31 December 2023 269,790 1,566,666 181,736 41,418 2,059,610
Net Book Value
As at 31 December 2023 6,195,219 194,133 104,469 35,978 6,529,799
As at 1 January 2023 6,154,031 86,775 - 1,481 6,242,287
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 1,285,000
Disposals (233,636 )
As at 31 December 2023 1,051,364
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 707,562 864,798
The fair value of the investment property has been arrived at on the basis of a revaluation carrried out by the directors.  The valuation was made on an open market value basis by reference  to the market evidence of transaction prices for similar properties and their rental return.
The fair value at 2022 was a revaluation of £420,202 above its original cost.  During 31 December 2023, the company realised £76,000 of the revaluation on disposal of part of the property.
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6. Stocks
2023 2022
£ £
Stock - Livestock 374,265 400,135
Stock - Seeds, fertiliser and sprays 3,035 -
377,300 400,135
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 310,446 100,842
Other debtors 299,066 220,801
609,512 321,643
8. Current Asset Investments
2023 2022
£ £
Unlisted investments 378,496 378,496
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 53,460 5,538
Other creditors 2,382,278 2,197,107
Taxation and social security - 1,128
2,435,738 2,203,773
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 640,964 640,964
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 40,440 17,524
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12. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 17,524 17,524
Deferred taxation 22,916 22,916
Balance at 31 December 2023 40,440 40,440
13. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 19,000 19,000
14. Reserves
Revaluation Reserve
£
As at 1 January 2023 420,202
Transfer to profit and loss (76,400 )
As at 31 December 2023 343,802
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