IRIS Accounts Production v24.3.0.553 00512255 director 1.2.23 31.1.24 31.1.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh005122552023-01-31005122552024-01-31005122552023-02-012024-01-31005122552022-01-31005122552022-02-012023-01-31005122552023-01-3100512255ns15:EnglandWales2023-02-012024-01-3100512255ns14:PoundSterling2023-02-012024-01-3100512255ns10:Director12023-02-012024-01-3100512255ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3100512255ns10:SmallEntities2023-02-012024-01-3100512255ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3100512255ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3100512255ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3100512255ns10:FullAccounts2023-02-012024-01-3100512255ns10:OrdinaryShareClass12023-02-012024-01-3100512255ns10:CompanySecretary12023-02-012024-01-3100512255ns10:RegisteredOffice2023-02-012024-01-3100512255ns5:CurrentFinancialInstruments2024-01-3100512255ns5:CurrentFinancialInstruments2023-01-3100512255ns5:Non-currentFinancialInstruments2024-01-3100512255ns5:Non-currentFinancialInstruments2023-01-3100512255ns5:ShareCapital2024-01-3100512255ns5:ShareCapital2023-01-3100512255ns5:RevaluationReserve2024-01-3100512255ns5:RevaluationReserve2023-01-3100512255ns5:FurtherSpecificReserve2ComponentTotalEquity2024-01-3100512255ns5:FurtherSpecificReserve2ComponentTotalEquity2023-01-3100512255ns5:RetainedEarningsAccumulatedLosses2024-01-3100512255ns5:RetainedEarningsAccumulatedLosses2023-01-3100512255ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-02-012024-01-3100512255ns5:PlantMachinery2023-02-012024-01-3100512255ns5:FurnitureFittings2023-02-012024-01-3100512255ns5:MotorVehicles2023-02-012024-01-3100512255ns5:LandBuildings2023-01-3100512255ns5:PlantMachinery2023-01-3100512255ns5:FurnitureFittings2023-01-3100512255ns5:MotorVehicles2023-01-3100512255ns5:LandBuildings2023-02-012024-01-3100512255ns5:LandBuildings2024-01-3100512255ns5:PlantMachinery2024-01-3100512255ns5:FurnitureFittings2024-01-3100512255ns5:MotorVehicles2024-01-3100512255ns5:LandBuildings2023-01-3100512255ns5:PlantMachinery2023-01-3100512255ns5:FurnitureFittings2023-01-3100512255ns5:MotorVehicles2023-01-3100512255ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3100512255ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-3100512255ns10:OrdinaryShareClass12024-01-31
REGISTERED NUMBER: 00512255 (England and Wales)














ADAMS OF RYE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






ADAMS OF RYE LIMITED (REGISTERED NUMBER: 00512255)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


ADAMS OF RYE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr I J Foster



SECRETARY: Mrs A Foster



REGISTERED OFFICE: 8 High Street
Rye
East Sussex
TN31 7JH



REGISTERED NUMBER: 00512255 (England and Wales)



ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ



BANKERS: NatWest Bank Plc
85 High Street
Rye
East Sussex
TN31 7JS

ADAMS OF RYE LIMITED (REGISTERED NUMBER: 00512255)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,431,972 1,446,258

CURRENT ASSETS
Stocks 226,287 147,299
Debtors 5 50,043 57,012
Cash at bank and in hand 37,754 73,497
314,084 277,808
CREDITORS
Amounts falling due within one year 6 177,481 180,369
NET CURRENT ASSETS 136,603 97,439
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,568,575

1,543,697

CREDITORS
Amounts falling due after more than
one year

7

(13,856

)

(24,020

)

PROVISIONS FOR LIABILITIES (256,764 ) (252,589 )
NET ASSETS 1,297,955 1,267,088

CAPITAL AND RESERVES
Called up share capital 8 8,000 8,000
Revaluation reserve 1,233,228 1,233,228
Capital reserve 1,536 1,536
Retained earnings 55,191 24,324
SHAREHOLDERS' FUNDS 1,297,955 1,267,088

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 OF RYE LIMITED (REGISTERED NUMBER: 00512255)

BALANCE SHEET - continued
31 JANUARY 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 director and authorised for issue on 30 October 2024 and were signed by:





Mr I J Foster - Director


ADAMS OF RYE LIMITED (REGISTERED NUMBER: 00512255)

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


1. STATUTORY INFORMATION

Adams of Rye 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 the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures, fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

STOCK AND WORK IN PROGRESS
Stock and work in progress are valued at the lower of cost and net realisable value.

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.

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.

ADAMS OF RYE LIMITED (REGISTERED NUMBER: 00512255)

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


2. ACCOUNTING POLICIES - continued

GRANT INCOME RECOGNITION
Grant income has been recognised under the performance model.
Grants that do not specify any future performance-related conditions are recorded when the grant
proceeds are received or receivable. Any grant that imposes specified future performance-related
conditions is recognised only when the performance-related conditions are met. Grants received
before the revenue recognition criteria are satisfied are recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold Plant and and Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 February 2023
and 31 January 2024 1,500,000 64,735 18,055 14,548 1,597,338
DEPRECIATION
At 1 February 2023 80,000 42,452 17,531 11,097 151,080
Charge for year 10,000 3,344 79 863 14,286
At 31 January 2024 90,000 45,796 17,610 11,960 165,366
NET BOOK VALUE
At 31 January 2024 1,410,000 18,939 445 2,588 1,431,972
At 31 January 2023 1,420,000 22,283 524 3,451 1,446,258

Freehold land and buildings represents the interests that were acquired between 1961 and 1967 together with subsequent improvement expenditure.The property was revalued under FRS1021A on transition in 2016 and is now held at deemed cost.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 50,043 53,695
Other debtors - 3,317
50,043 57,012

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,164 9,913
Trade creditors 39,566 40,706
Taxation and social security 14,661 14,684
Other creditors 113,090 115,066
177,481 180,369

ADAMS OF RYE LIMITED (REGISTERED NUMBER: 00512255)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,856 24,020

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8,000 Ordinary £1 8,000 8,000