Registered number
04503986
Adams Engineering UK Limited
Filleted Accounts
31 August 2024
Adams Engineering UK Limited
Registered number: 04503986
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,287 497
Current assets
Stocks 10,975 18,225
Debtors 4 39,298 35,862
Cash at bank and in hand 5,912 2,293
56,185 56,380
Creditors: amounts falling due within one year 5 (47,499) (39,664)
Net current assets 8,686 16,716
Total assets less current liabilities 9,973 17,213
Creditors: amounts falling due after more than one year 6 (8,341) (16,546)
Provisions for liabilities (245) -
Net assets 1,387 667
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,287 567
Shareholders' funds 1,387 667
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C J Adams
Director
Approved by the board on 11 February 2025
Adams Engineering UK Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 3 years straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 12,016
Additions 970
At 31 August 2024 12,986
Depreciation
At 1 September 2023 11,519
Charge for the year 180
At 31 August 2024 11,699
Net book value
At 31 August 2024 1,287
At 31 August 2023 497
4 Debtors 2024 2023
£ £
Trade debtors - (1)
Other debtors 39,298 35,863
39,298 35,862
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,325 8,121
Taxation and social security costs 37,174 29,603
Other creditors 2,000 1,940
47,499 39,664
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,341 16,546
7 Other information
Adams Engineering UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bramben Cottage, Weavills Road
Bishopstoke
Eastleigh
Hampshire
SO50 8HS
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