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Company Registration Number: 07500575
 
 
Adomast Manufacturing Limited
 
Abridged Financial Statements
 
for the financial year ended 29 February 2024
Adomast Manufacturing Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Maurice Sherling (Appointed 27 September 2024)
Anne Denise Wolstenholme
Ian Crabbe (Resigned 27 September 2024)
 
 
Company Registration Number 07500575
 
 
Registered Office and Business Address Barkston Road
Carlton Industrial Estate
Barnsley
S71 3HU
United Kingdom
 
 
Independent Auditors Thos. Goodall & Son
Chartered Certified Accountants and Statutory Auditors
Link House
Boreenmanna Road
Cork
Ireland



Adomast Manufacturing Limited
DIRECTORS' REPORT
for the financial year ended 29 February 2024

 
The directors present their report and the audited financial statements for the financial year ended 29 February 2024.
 
Principal Activity
The principal activity of the company is the supply of treatment chemicals to the civil engineering industry.
     
Directors
The directors who served during the financial year are as follows:
     
Maurice Sherling (Appointed 27 September 2024)
Anne Denise Wolstenholme
Ian Crabbe (Resigned 27 September 2024)
   
There were no changes in shareholdings between 29 February 2024 and the date of signing the financial statements.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of Directors' Responsibilities
             
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
■select suitable accounting policies and apply them consistently;
■make judgements and accounting estimates that are reasonable and prudent;
■prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
                 
Disclosure of Information to Auditor
Each persons who are directors at the date of approval of this report confirms that:
In so far as the directors are aware:
■there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and
■the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
     
Auditors
The auditors, Thos. Goodall & Son, (Chartered Certified Accountants) have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________
Anne Denise Wolstenholme
Director
     
31 October 2024



INDEPENDENT AUDITOR'S REPORT
to the Shareholders of Adomast Manufacturing Limited

 
Report on the audit of the financial statements
 
Opinion
We have audited the financial statements of Adomast Manufacturing Limited ('the company') for the financial year ended 29 February 2024 which comprise the Abridged Profit and Loss Account, the Abridged Balance Sheet, the Reconciliation of Shareholders' Funds and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities).

In our opinion the financial statements:
■give a true and fair view of the state of the company's affairs as at 29 February 2024 and of its profit for the financial year then ended;
■have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
■have been prepared in accordance with the requirements of the Companies Act 2006.
 
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the Provisions Available for Audits of Small Entities, in the circumstances set out in Note 4 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
 
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
 
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.
 
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
 
Other Information
The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
 
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.
 
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Directors' Report.
 
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the Directors' Report.
 
Responsibilities of directors for the financial statements
The directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
 
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.
 
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
 
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
 
We obtain an understanding of the legal and regulatory frameworks that are applicable to the Company and determine the most relevant of these to be FRS102 and the Companies Act. We consider the size and complexity of transactions and the level of judgement attaching to certain transactions.

Enquiries are made of management regarding fraud or suspected fraud during the year as well as enquiry of subsequent events which may bring to light fraud post balance sheet.

Our audit methodology is substantive and analytical. If a fraud or other irregularity comes to light in our testing it may necessitate further enquiry or testing.
 
A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.
 
 
 
Thomas Walsh (Senior Statutory Auditor)
for and on behalf of
THOS. GOODALL & SON
Chartered Certified Accountants and Statutory Auditors
Link House
Boreenmanna Road
Cork
Ireland
 
31 October 2024



Adomast Manufacturing Limited
APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor
 
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
 
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
 
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
 
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
 
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.
 
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
 
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.



Adomast Manufacturing Limited
ABRIDGED PROFIT AND LOSS ACCOUNT
for the financial year ended 29 February 2024
2024 2023
Notes £ £

Gross profit 729,530 555,900
 
Administrative expenses (672,393) (687,461)
───────── ─────────
Operating profit/(loss) 57,137 (131,561)
 
Interest receivable and similar income 420 55
Interest payable and similar expenses (9,143) (6,856)
───────── ─────────
Profit/(loss) before taxation 48,414 (138,362)
 
Tax on profit/(loss) - -
───────── ─────────
Profit/(loss) for the financial year 48,414 (138,362)
───────── ─────────
Total comprehensive income 48,414 (138,362)
    ═════════   ═════════



Adomast Manufacturing Limited
Company Registration Number: 07500575
ABRIDGED BALANCE SHEET
as at 29 February 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 6 60,667 64,328
───────── ─────────
 
Current Assets
Stocks 276,077 272,679
Debtors 362,248 376,237
Cash and cash equivalents 37,493 9,779
───────── ─────────
675,818 658,695
───────── ─────────
Creditors: amounts falling due within one year (1,035,402) (961,944)
───────── ─────────
Net Current Liabilities (359,584) (303,249)
───────── ─────────
Total Assets less Current Liabilities (298,917) (238,921)
 
Creditors:
amounts falling due after more than one year (313,552) (421,962)
───────── ─────────
Net Liabilities (612,469) (660,883)
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings (612,569) (660,983)
───────── ─────────
Equity attributable to owners of the company (612,469) (660,883)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
Approved by the Board and authorised for issue on 31 October 2024 and signed on its behalf by
           
           
           
________________________________          
Anne Denise Wolstenholme          
Director          
           



Adomast Manufacturing Limited
RECONCILIATION OF SHAREHOLDERS' FUNDS
as at 29 February 2024

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 March 2022 100 (522,621) (522,521)
───────── ───────── ─────────
Loss for the financial year - (138,362) (138,362)
───────── ───────── ─────────
At 28 February 2023 100 (660,983) (660,883)
  ───────── ───────── ─────────
Profit for the financial year - 48,414 48,414
  ───────── ───────── ─────────
At 29 February 2024 100 (612,569) (612,469)
  ═════════ ═════════ ═════════



Adomast Manufacturing Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 29 February 2024

   
1. General Information
 
Adomast Manufacturing Limited is a company limited by shares incorporated in the United Kingdom. Barkston Road, Carlton Industrial Estate, Barnsley, S71 3HU, United Kingdom is the registered office, which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 29 February 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% and 25% Straight line
  Fixtures, fittings and equipment - 20% Straight line and 25% Reducing balance
  Motor vehicles - 25% Straight line
  Computer equipment - 33% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined using the weighted average method. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The financial statements have been prepared on the going concern basis. The directors believe this is appropriate for the following reasons:
The company continues to enjoy the support of its parent company and other group companies within the Brandyford Group.
The company continues to enjoy the support of its bankers.
The company continues to enjoy the support of the group's shareholder, Maurice E. Sherling.
   
4. Provisions Available for Audits of Small Entities
 
In common with many other businesses of our size and nature, we use our auditors to prepare and submit tax returns to Her Majesty's Revenue and Customs and to assist with the preparation of the financial statements.
       
5. Employees
 
The average monthly number of employees, including directors, during the financial year was 12, (2023 - 14).
             
6. Tangible assets
  Plant and Fixtures, Motor Computer Total
  machinery fittings and vehicles equipment  
    equipment      
  £ £ £ £ £
Cost
At 1 March 2023 149,202 157,007 90,233 24,513 420,955
Additions - 3,840 47,537 556 51,933
Disposals - - (59,645) - (59,645)
  ───────── ───────── ───────── ───────── ─────────
At 29 February 2024 149,202 160,847 78,125 25,069 413,243
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 March 2023 144,237 140,334 49,871 22,185 356,627
Charge for the financial year 3,416 7,417 17,741 1,332 29,906
On disposals - - (33,957) - (33,957)
  ───────── ───────── ───────── ───────── ─────────
At 29 February 2024 147,653 147,751 33,655 23,517 352,576
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 29 February 2024 1,549 13,096 44,470 1,552 60,667
  ═════════ ═════════ ═════════ ═════════ ═════════
At 28 February 2023 4,965 16,673 40,362 2,328 64,328
  ═════════ ═════════ ═════════ ═════════ ═════════
           
6.1. Tangible assets continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2024   2023  
  Net Depreciation Net Depreciation
  book value charge book value charge
  £ £ £ £
 
Plant and machinery - - 1,462 2,983
Motor vehicles 44,452 11,148 40,362 22,553
  ───────── ───────── ───────── ─────────
  44,452 11,148 41,824 25,536
  ═════════ ═════════ ═════════ ═════════
       
7. Capital commitments
 
The company had no material capital commitments at the financial year-ended 29 February 2024.
   
8. Parent and ultimate parent company
 
The company regards Chalybs Limited as its parent company.
 
The companys ultimate parent undertaking is Brandyford Limited.
The address of Brandyford Limited is Lea Road Portarlington Co. Laois Ireland.
 
The parent of the largest group in which the results are consolidated is Brandyford Limited.
Brandyford Limited is registered in Ireland.
 
   
9. Controlling interest
 
Maurice E. Sherling is regarded as the ultimate controlling party by virtue of his shareholding in Brandyford Limited.
   
10. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.