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REGISTERED NUMBER: 06576833 (England and Wales)



















ADAM BLACKMAN LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






ADAM BLACKMAN LTD (REGISTERED NUMBER: 06576833)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


ADAM BLACKMAN LTD (REGISTERED NUMBER: 06576833)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,489 907
Investments 5 100,000 100,000
101,489 100,907

CURRENT ASSETS
Stocks 192,829 226,605
Debtors 6 24,062 29,986
216,891 256,591
CREDITORS
Amounts falling due within one year 7 298,715 275,972
NET CURRENT LIABILITIES (81,824 ) (19,381 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,665

81,526

CREDITORS
Amounts falling due after more than one
year

8

(12,990

)

(22,940

)

PROVISIONS FOR LIABILITIES (283 ) (172 )
NET ASSETS 6,392 58,414

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,292 58,314
SHAREHOLDERS' FUNDS 6,392 58,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

ADAM BLACKMAN LTD (REGISTERED NUMBER: 06576833)

BALANCE SHEET - continued
30 APRIL 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 November 2024 and were signed by:





Mr A S Blackman - Director


ADAM BLACKMAN LTD (REGISTERED NUMBER: 06576833)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Adam Blackman Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06576833

Registered office: Homewood Farm Redmans Lane
Shoreham
Sevenoaks
Kent
TN14 7UB

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is derived from the sale of second hand car and is recognised upon delivery to the customer. Turnover is recorded at the fair value of the consideration received or receivable, and excludes value added tax and rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


ADAM BLACKMAN LTD (REGISTERED NUMBER: 06576833)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 4,842 17,289 1,257 23,388
Additions - - 832 832
At 30 April 2024 4,842 17,289 2,089 24,220
DEPRECIATION
At 1 May 2023 4,587 16,637 1,257 22,481
Charge for year 63 164 23 250
At 30 April 2024 4,650 16,801 1,280 22,731
NET BOOK VALUE
At 30 April 2024 192 488 809 1,489
At 30 April 2023 255 652 - 907

ADAM BLACKMAN LTD (REGISTERED NUMBER: 06576833)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 100,000
NET BOOK VALUE
At 30 April 2024 100,000
At 30 April 2023 100,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,349 17,486
Other debtors 21,713 12,500
24,062 29,986

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 108,975 97,836
Trade creditors 1,240 -
Taxation and social security 1,558 10,592
Other creditors 186,942 167,544
298,715 275,972

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,990 22,940

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 99,527 88,388

A personal guarantee has been given by the director to the company's bankers in respect of the overdraft.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Dividends amounting to £21,000 were paid to the director during the year (2023 - £21,000).

ADAM BLACKMAN LTD (REGISTERED NUMBER: 06576833)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. RELATED PARTY DISCLOSURES

London UK Retail Limited
A company owned by a close family member.

Amount due to the related party at the balance sheet date is £84,000 (2023: nil).

This loan is unsecured, there is no interest payable and there no agreed repayment terms.

Sales commissions invoiced to this relating party during the year were £110,000 (2023: nil).