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REGISTERED NUMBER: 05270794 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

J W ADAMS AND SONS LIMITED

J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)






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




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


J W ADAMS AND SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: B J Adams





SECRETARY: J E Pollard





REGISTERED OFFICE: Drake House
80 Guildford Street
Chertsey
Surrey
KT16 9AD





REGISTERED NUMBER: 05270794 (England and Wales)





ACCOUNTANTS: Drake & Co
Chartered Accountants
Drake House
80 Guildford Street
Chertsey
Surrey
KT16 9AD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
J W ADAMS AND SONS LIMITED

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 Statement of Financial Position. 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 order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J W Adams and Sons Limited for the year ended 30 April 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of J W Adams and Sons Limited in accordance with the terms of our engagement letter dated 24 October 2018. Our work has been undertaken solely to prepare for your approval the financial statements of J W Adams and Sons Limited and state those matters that we have agreed to state to the director of J W Adams and Sons Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J W Adams and Sons Limited and its director for our work or for this report.

It is your duty to ensure that J W Adams and Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J W Adams and Sons Limited. You consider that J W Adams and Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J W Adams and Sons Limited. 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 statutory financial statements.






Drake & Co
Chartered Accountants
Drake House
80 Guildford Street
Chertsey
Surrey
KT16 9AD


29 January 2025

J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 230,350 306,648

CURRENT ASSETS
Stocks - 57
Debtors 5 913 2,036
Cash at bank 19 11,915
932 14,008
CREDITORS
Amounts falling due within one year 6 152,068 115,629
NET CURRENT LIABILITIES (151,136 ) (101,621 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,214

205,027

CREDITORS
Amounts falling due after more than
one year

7

(12,500

)

(22,500

)

PROVISIONS FOR LIABILITIES - (9,271 )
NET ASSETS 66,714 173,256

J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 8 1 1
Fair value reserve 8 8,075 31,990
Retained earnings 8 58,636 141,263
SHAREHOLDERS' FUNDS 66,714 173,256

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.

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 29 January 2025 and were signed by:





B J Adams - Director


J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)

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

1. STATUTORY INFORMATION

J W Adams and Sons 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.

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 as modified by the revaluation of certain assets.

Turnover and revenue recognition
Turnover represents sales and services provided, net of value added tax.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under those contracts.It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including recoverable expenses and disbursements, but excluding Value Added Tax.

For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the assignment, its stage of completion and the relevant contract terms.

Unbilled revenue is included in debtors, under "other debtors", prebilled revenue is included in creditors under "other creditors".

J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery - 20% and 25 %

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Tangible assets under the revaluation model are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Any aggregate surplus arising from changes in fair valuation are recognised in a fair valuation reserve to the extent that they exceed a previous deficit arising, deficits exceeding prior surpluses are recognised in profit and loss.

The unrealised cumulative gains on property revaluations are transferred to the fair value reserve net of the associated deferred taxation provided thereon, to distinguish them as unrealised equity reserves.

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 statement of financial position date.


J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)

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 statement of financial position 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.

Long term work in progress
For long term contract work in progress, turnover reflects costs incurred to date on the contract plus the director's best estimate of profits attributable to the work performed to date. For this purpose the director's estimates of attributable profits will included a proportion of total profits anticipated to be made on the contract, to the extent that their realisation is reasonably foreseeable, and after making provision for all future costs including possible warranty claims.

Long-term contracts are assessed on a contract-by-contact basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Long term contract balances included in stocks comprise costs incurred on long term contracts, net of amounts transferred to cost of sales, after deducting foreseeable losses and related payments on account. Costs included all direct material and labour costs incurred in bringing a contract to its state of completion at the balance sheet date, including an appropriate proportion of indirect expenses, Where payment on account exceed turnover to date, the excess is classified as a deduction from any balance on that contract in stocks, with any residual balance in excess of cost being classified within creditors an 'long-term contracts payments on account'.

J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company mainly enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to or from related parties.

Debt instruments (other than those wholly repayable or receivable on demand or within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the 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 Statement of Income and Retained Earnings.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of Financial position date and carried forward to future periods. This is measured at at the undiscounted salary cost of the future holiday entitlement do accrued at the Statement of Financial Position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 295,000 115,649 410,649
Disposals - (27,584 ) (27,584 )
Revaluations (70,000 ) - (70,000 )
At 30 April 2024 225,000 88,065 313,065
DEPRECIATION
At 1 May 2023 - 104,001 104,001
Charge for year - 1,784 1,784
Eliminated on disposal - (23,070 ) (23,070 )
At 30 April 2024 - 82,715 82,715
NET BOOK VALUE
At 30 April 2024 225,000 5,350 230,350
At 30 April 2023 295,000 11,648 306,648

Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2023 - £ 100,000 ) which is not depreciated.

Cost or valuation at 30 April 2024 is represented by:

Land and
buildings
£   
Valuation in 2024 225,000

If the freehold land and building had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 257,852 257,852
Aggregate depreciation 15,785 12,628

Value of land in freehold land and buildings 100,000 100,000

Freehold land and buildings were valued on an open market basis on by the director .

J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 913 2,036

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,646 10,000
Trade creditors 818 674
Taxation and social security 3,972 10,141
Other creditors 133,632 94,814
152,068 115,629

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,500 22,500

8. RESERVES
Capital Fair
Retained redemption value
earnings reserve reserve Totals
£    £    £    £   

At 1 May 2023 141,263 1 31,990 173,254
Deficit for the year (38,552 ) (38,552 )
Dividends (36,000 ) (36,000 )
Revaluation movements - - (31,990 ) (31,990 )
Deferred tax on revaluations (8,075 ) - 8,075 -
At 30 April 2024 58,636 1 8,075 66,712

9. CONTINGENT LIABILITIES

No contingent liabilities exist.

10. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - -

J W ADAMS AND SONS LIMITED (REGISTERED NUMBER: 05270794)

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

11. ULTIMATE CONTROLLING PARTY

The shareholders are jointly the controlling party.