IRIS Accounts Production v24.3.2.46 NI637149 director 1.6.23 31.5.24 31.5.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6371492023-05-31NI6371492024-05-31NI6371492023-06-012024-05-31NI6371492022-05-31NI6371492022-06-012023-05-31NI6371492023-05-31NI637149ns15:NorthernIreland2023-06-012024-05-31NI637149ns14:PoundSterling2023-06-012024-05-31NI637149ns10:Director12023-06-012024-05-31NI637149ns10:PrivateLimitedCompanyLtd2023-06-012024-05-31NI637149ns10:SmallEntities2023-06-012024-05-31NI637149ns10:AuditExemptWithAccountantsReport2023-06-012024-05-31NI637149ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-31NI637149ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-31NI637149ns10:FullAccounts2023-06-012024-05-31NI63714912023-06-012024-05-31NI637149ns10:CompanySecretary12023-06-012024-05-31NI637149ns10:RegisteredOffice2023-06-012024-05-31NI637149ns5:CurrentFinancialInstruments2024-05-31NI637149ns5:CurrentFinancialInstruments2023-05-31NI637149ns5:Non-currentFinancialInstruments2024-05-31NI637149ns5:Non-currentFinancialInstruments2023-05-31NI637149ns5:ShareCapital2024-05-31NI637149ns5:ShareCapital2023-05-31NI637149ns5:RetainedEarningsAccumulatedLosses2024-05-31NI637149ns5:RetainedEarningsAccumulatedLosses2023-05-31NI637149ns5:NetGoodwill2023-06-012024-05-31NI637149ns5:NetGoodwill2023-05-31NI637149ns5:NetGoodwill2024-05-31NI637149ns5:NetGoodwill2023-05-31NI637149ns5:PlantMachinery2023-05-31NI637149ns5:FurnitureFittings2023-05-31NI637149ns5:MotorVehicles2023-05-31NI637149ns5:PlantMachinery2023-06-012024-05-31NI637149ns5:FurnitureFittings2023-06-012024-05-31NI637149ns5:MotorVehicles2023-06-012024-05-31NI637149ns5:PlantMachinery2024-05-31NI637149ns5:FurnitureFittings2024-05-31NI637149ns5:MotorVehicles2024-05-31NI637149ns5:PlantMachinery2023-05-31NI637149ns5:FurnitureFittings2023-05-31NI637149ns5:MotorVehicles2023-05-31NI637149ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-31NI637149ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-31
REGISTERED NUMBER: NI637149 (Northern Ireland)















GA ADAMS BUILDING LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






GA ADAMS BUILDING LTD (REGISTERED NUMBER: NI637149)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


GA ADAMS BUILDING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr G A Adams



SECRETARY: Ms J E Adams



REGISTERED OFFICE: 1 Mullaghmenagh Avenue
Gillygooley Road
Omagh
Co. Tyrone
BT78 5QH



REGISTERED NUMBER: NI637149 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Ulster Bank Limited
14 High Street
OMAGH
Co. Tyrone
BT78 1BJ



SOLICITORS: McConnell and Fyffe
The Old Rectory
21 Church Street
OMAGH
Co Tyrone
BT78 1DG

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GA ADAMS BUILDING LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's director that we have done so, and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 May 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


20 January 2025

GA ADAMS BUILDING LTD (REGISTERED NUMBER: NI637149)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,000 18,000
Tangible assets 5 78,259 56,483
90,259 74,483

CURRENT ASSETS
Stocks 10,000 159,000
Debtors 6 85,812 33,759
Cash at bank 84,643 36,266
180,455 229,025
CREDITORS
Amounts falling due within one year 7 38,308 70,089
NET CURRENT ASSETS 142,147 158,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,406

233,419

CREDITORS
Amounts falling due after more than one
year

8

(10,916

)

(290

)

PROVISIONS FOR LIABILITIES (20,739 ) (14,748 )
NET ASSETS 200,751 218,381

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 190,751 208,381
SHAREHOLDERS' FUNDS 200,751 218,381

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

GA ADAMS BUILDING LTD (REGISTERED NUMBER: NI637149)

BALANCE SHEET - continued
31 MAY 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 20 January 2025 and were signed by:





Mr G A Adams - Director


GA ADAMS BUILDING LTD (REGISTERED NUMBER: NI637149)

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

1. STATUTORY INFORMATION

GA Adams Building Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery - 10% straight line
Fixtures & fittings - 20% straight line
Motor vehicles - 20% reducing balance

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 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.

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.

GA ADAMS BUILDING LTD (REGISTERED NUMBER: NI637149)

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

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Amounts recoverable on contracts
The amount by which turnover exceeds payments on account on contracts is shown under debtors as amounts recoverable on contracts. Where payments on account exceed turnover the excess is classified as deferred income within creditors.When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 60,000
AMORTISATION
At 1 June 2023 42,000
Charge for year 6,000
At 31 May 2024 48,000
NET BOOK VALUE
At 31 May 2024 12,000
At 31 May 2023 18,000

GA ADAMS BUILDING LTD (REGISTERED NUMBER: NI637149)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 105,343 8,230 43,891 157,464
Additions 35,958 2,198 - 38,156
Disposals - - (15,900 ) (15,900 )
At 31 May 2024 141,301 10,428 27,991 179,720
DEPRECIATION
At 1 June 2023 68,278 6,478 26,225 100,981
Charge for year 8,974 1,205 2,867 13,046
Eliminated on disposal - - (12,566 ) (12,566 )
At 31 May 2024 77,252 7,683 16,526 101,461
NET BOOK VALUE
At 31 May 2024 64,049 2,745 11,465 78,259
At 31 May 2023 37,065 1,752 17,666 56,483

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts recoverable on
contracts 30,000 15,000
Other debtors 55,812 18,759
85,812 33,759

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,994 1,389
Trade creditors 22,015 42,779
Taxation and social security 6,778 17,737
Other creditors 5,521 8,184
38,308 70,089

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 10,650 -
Other creditors 266 290
10,916 290

GA ADAMS BUILDING LTD (REGISTERED NUMBER: NI637149)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan 266 290

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company had a loan amounting to £266 from members of key management personnel (£290 at 1 June 2023).

There is no repayment date for this loan and interest is not currently being charged.

The loan is presented within creditors: amounts falling due after more than one year.