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REGISTERED NUMBER: 00843792 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ADAMES (FLANSHAM) LIMITED

ADAMES (FLANSHAM) LIMITED (REGISTERED NUMBER: 00843792)

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


ADAMES (FLANSHAM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: N J Adames
Mrs H M Adames
Mrs E Maclaren





SECRETARY: Mrs H M Adames





REGISTERED OFFICE: Chessels Farm
Chessels Farm Drive
Flansham
Bognor Regis
West Sussex
PO22 8EG





REGISTERED NUMBER: 00843792 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

ADAMES (FLANSHAM) LIMITED (REGISTERED NUMBER: 00843792)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 5,341 5,341
Tangible assets 5 4,372,972 4,338,081
Investments 6 1,632,688 1,570,940
6,011,001 5,914,362

CURRENT ASSETS
Stocks 993,704 916,489
Debtors 7 34,491 18,574
Prepayments and accrued income 18,877 39,522
Cash at bank 2,245,001 2,129,193
3,292,073 3,103,778
CREDITORS
Amounts falling due within one year 8 146,045 113,458
NET CURRENT ASSETS 3,146,028 2,990,320
TOTAL ASSETS LESS CURRENT LIABILITIES 9,157,029 8,904,682

CREDITORS
Amounts falling due after more than one year 9 (1,096,062 ) (1,103,054 )

PROVISIONS FOR LIABILITIES 10 (563,178 ) (539,118 )
NET ASSETS 7,497,789 7,262,510

CAPITAL AND RESERVES
Called up share capital 61,000 61,000
Capital redemption reserve 3,000 3,000
Retained earnings 7,433,789 7,198,510
SHAREHOLDERS' FUNDS 7,497,789 7,262,510

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.

ADAMES (FLANSHAM) LIMITED (REGISTERED NUMBER: 00843792)

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 2 October 2024 and were signed on its behalf by:




N J Adames - Director



Mrs H M Adames - Director


ADAMES (FLANSHAM) LIMITED (REGISTERED NUMBER: 00843792)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Adames (Flansham) 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 (£) rounded to the nearest pound (£).

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax, in relation to farming activities.

Other operating income
Other operating income includes rental income and sundry receipts recognised on a receivable basis.

Investments
Fixed asset investments are shares held in listed companies and stated at fair value with changes in fair value going to profit or loss.

Intangible assets
Purchased Rural Payments Agency entitlements have not been amortised due to the assets having an indefinite useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% - 5% on buildings and nil on land and 10% on roads and paths
Deadstock - at 10% on reducing balance
Fixtures and fittings - at varying rates on cost
Tractors, combines and vehicles - 25% on reducing balance

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

Costs incurred on establishing and maintaining the woodland are taken to work in progress and will be recognised in profit or loss as the trees are felled and sold.

Work in progress is valued at the lower of cost and net realisable value. Overheads that are directly attributable to the woodland are reflected in work in progress. Costs such as roads and fencing are taken to tangible fixed assets and depreciated accordingly so are not included in work in progress.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.


ADAMES (FLANSHAM) LIMITED (REGISTERED NUMBER: 00843792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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. Deferred tax has been recognised at a rate of 19% which was the substantively enacted rate at the balance sheet date.

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.

Government grants
Government grants and other contributions are accounted for under the accrual model.

Grants and other income relating to the woodland are taken to deferred income to be recognised in profit or loss when the trees are felled and sold. Grants receivable for fencing are taken to deferred income and recognised in profit or loss over the useful life of the asset, depreciation is charged to write off each fencing asset over its estimated useful life of ten years.

Leasing commitments
Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 April 2023
and 31 March 2024 5,341
NET BOOK VALUE
At 31 March 2024 5,341
At 31 March 2023 5,341

ADAMES (FLANSHAM) LIMITED (REGISTERED NUMBER: 00843792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Tractors,
Fixtures combines
Freehold and and
property Deadstock fittings vehicles Totals
£ £ £ £ £
COST
At 1 April 2023 4,927,500 11,750 161,873 129,870 5,230,993
Additions - - 712 83,827 84,539
Disposals - - - (15,000 ) (15,000 )
At 31 March 2024 4,927,500 11,750 162,585 198,697 5,300,532
DEPRECIATION
At 1 April 2023 619,256 5,836 160,079 107,741 892,912
Charge for year 29,289 593 347 6,919 37,148
Eliminated on disposal - - - (2,500 ) (2,500 )
At 31 March 2024 648,545 6,429 160,426 112,160 927,560
NET BOOK VALUE
At 31 March 2024 4,278,955 5,321 2,159 86,537 4,372,972
At 31 March 2023 4,308,244 5,914 1,794 22,129 4,338,081

Included in cost of land and buildings is freehold land of £ 3,687,269 (2023 - £ 3,687,269 ) which is not depreciated.

Tangible fixed assets are initially measured at cost. Some of the company's tangible fixed assets are held as security in favour of E Power Ltd.

6. FIXED ASSET INVESTMENTS
Other
investments
£
COST OR VALUATION
At 1 April 2023 1,570,940
Revaluations 61,748
At 31 March 2024 1,632,688
NET BOOK VALUE
At 31 March 2024 1,632,688
At 31 March 2023 1,570,940

All fixed asset investments are shares held in listed companies. They are valued at fair value at the year end. The historical cost of investments were £1,521,791 (2023: £1,521,791).

ADAMES (FLANSHAM) LIMITED (REGISTERED NUMBER: 00843792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 2,128 3,581
Other debtors 32,363 14,993
34,491 18,574

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 1,875 875
Taxation and social security 31,936 39,217
Other creditors 112,234 73,366
146,045 113,458

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Other creditors 1,096,062 1,103,054

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 563,178 539,118

Deferred tax
£
Balance at 1 April 2023 539,118
Provided during year 24,060
Balance at 31 March 2024 563,178