17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04779275 2023-03-01 2024-02-29 04779275 2024-02-29 04779275 2023-02-28 04779275 2022-03-01 2023-02-28 04779275 2023-02-28 04779275 2022-02-28 04779275 core:NetGoodwill 2023-03-01 2024-02-29 04779275 core:MotorVehicles 2023-03-01 2024-02-29 04779275 bus:Director3 2023-03-01 2024-02-29 04779275 core:NetGoodwill 2023-02-28 04779275 core:NetGoodwill 2024-02-29 04779275 core:MotorVehicles 2023-02-28 04779275 core:MotorVehicles 2024-02-29 04779275 core:WithinOneYear 2024-02-29 04779275 core:WithinOneYear 2023-02-28 04779275 core:AfterOneYear 2024-02-29 04779275 core:AfterOneYear 2023-02-28 04779275 core:ShareCapital 2024-02-29 04779275 core:ShareCapital 2023-02-28 04779275 core:RetainedEarningsAccumulatedLosses 2024-02-29 04779275 core:RetainedEarningsAccumulatedLosses 2023-02-28 04779275 core:NetGoodwill 2023-02-28 04779275 core:MotorVehicles 2023-02-28 04779275 bus:Director3 2023-02-28 04779275 bus:Director3 2024-02-29 04779275 bus:Director3 2022-02-28 04779275 bus:Director3 2023-02-28 04779275 bus:Director3 2022-03-01 2023-02-28 04779275 bus:SmallEntities 2023-03-01 2024-02-29 04779275 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 04779275 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04779275 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04779275 bus:FullAccounts 2023-03-01 2024-02-29 04779275 core:IntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 04779275 core:ComputerEquipment 2023-03-01 2024-02-29 04779275 core:IntangibleAssetsOtherThanGoodwill 2024-02-29 04779275 core:ComputerEquipment 2024-02-29 04779275 core:ComputerEquipment 2023-02-28 04779275 core:AllAssociates 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 04779275
Adams Moore Limited
Filleted Unaudited Financial Statements
29 February 2024
Adams Moore Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
9,000
17,000
Tangible assets
6
47,854
63,723
--------
--------
56,854
80,723
Current assets
Debtors
7
251,123
212,070
Cash at bank and in hand
167,733
124,741
---------
---------
418,856
336,811
Creditors: amounts falling due within one year
8
233,957
185,850
---------
---------
Net current assets
184,899
150,961
---------
---------
Total assets less current liabilities
241,753
231,684
Creditors: amounts falling due after more than one year
9
58,589
62,876
---------
---------
Net assets
183,164
168,808
---------
---------
Adams Moore Limited
Statement of Financial Position (continued)
29 February 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
183,064
168,708
---------
---------
Shareholders funds
183,164
168,808
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Mr M Crook
Director
Company registration number: 04779275
Adams Moore Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 7 Victoria Road, Tamworth, Staffordshire, B79 7HS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
2% straight line
Client Database
-
100% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 15 ).
5. Intangible assets
Goodwill
Client Database
Total
£
£
£
Cost
At 1 March 2023
350,000
350,000
Additions
15,000
15,000
---------
--------
---------
At 29 February 2024
350,000
15,000
365,000
---------
--------
---------
Amortisation
At 1 March 2023
333,000
333,000
Charge for the year
8,000
15,000
23,000
---------
--------
---------
At 29 February 2024
341,000
15,000
356,000
---------
--------
---------
Carrying amount
At 29 February 2024
9,000
9,000
---------
--------
---------
At 28 February 2023
17,000
17,000
---------
--------
---------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 March 2023 and 29 February 2024
54,990
66,227
121,217
--------
--------
---------
Depreciation
At 1 March 2023
13,748
43,746
57,494
Charge for the year
10,310
5,559
15,869
--------
--------
---------
At 29 February 2024
24,058
49,305
73,363
--------
--------
---------
Carrying amount
At 29 February 2024
30,932
16,922
47,854
--------
--------
---------
At 28 February 2023
41,242
22,481
63,723
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
127,889
92,830
Amounts owed by group undertakings and undertakings in which the company has a participating interest
8,463
( 18,721)
Other debtors
114,771
137,961
---------
---------
251,123
212,070
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,000
5,000
Trade creditors
14,540
12,423
Corporation tax
25,373
11,356
Social security and other taxes
110,813
83,993
Other creditors
9,622
9,622
Other creditors
68,609
63,456
---------
---------
233,957
185,850
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,953
36,143
Other creditors
27,636
26,733
--------
--------
58,589
62,876
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr M Crook
( 26,733)
( 903)
( 27,636)
--------
----
--------
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr M Crook
( 2,395)
( 24,338)
( 26,733)
-------
--------
--------
11. Related party transactions
The company was under the control of Mr Martin Crook throughout the current and previous year. Mr Crook is the Managing Director and shareholder in Adams Moore Holdings Limited, the sole shareholder of Adams Moore Limited .