Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 05232172 Mr D M Morris-Adams Mr D M Morris-Adams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05232172 2023-12-31 05232172 2024-12-31 05232172 2024-01-01 2024-12-31 05232172 frs-core:CurrentFinancialInstruments 2024-12-31 05232172 frs-core:Non-currentFinancialInstruments 2024-12-31 05232172 frs-core:ComputerEquipment 2024-12-31 05232172 frs-core:ComputerEquipment 2024-01-01 2024-12-31 05232172 frs-core:ComputerEquipment 2023-12-31 05232172 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 05232172 frs-core:FurnitureFittings 2024-12-31 05232172 frs-core:FurnitureFittings 2024-01-01 2024-12-31 05232172 frs-core:FurnitureFittings 2023-12-31 05232172 frs-core:NetGoodwill 2024-12-31 05232172 frs-core:NetGoodwill 2024-01-01 2024-12-31 05232172 frs-core:NetGoodwill 2023-12-31 05232172 frs-core:MotorVehicles 2024-12-31 05232172 frs-core:MotorVehicles 2024-01-01 2024-12-31 05232172 frs-core:MotorVehicles 2023-12-31 05232172 frs-core:OtherResidualIntangibleAssets 2024-12-31 05232172 frs-core:OtherResidualIntangibleAssets 2023-12-31 05232172 frs-core:PlantMachinery 2024-12-31 05232172 frs-core:PlantMachinery 2024-01-01 2024-12-31 05232172 frs-core:PlantMachinery 2023-12-31 05232172 frs-core:WithinOneYear 2024-12-31 05232172 frs-core:ShareCapital 2024-12-31 05232172 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05232172 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05232172 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 05232172 frs-bus:SmallEntities 2024-01-01 2024-12-31 05232172 frs-bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05232172 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05232172 frs-core:ListedExchangeTraded 2024-12-31 05232172 frs-core:ListedExchangeTraded 2023-12-31 05232172 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 05232172 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-12-31 05232172 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-12-31 05232172 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 05232172 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-12-31 05232172 frs-bus:Director1 2024-01-01 2024-12-31 05232172 frs-bus:Director1 2023-12-31 05232172 frs-bus:Director1 2024-12-31 05232172 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 05232172 frs-core:CurrentFinancialInstruments 1 2024-12-31 05232172 frs-countries:EnglandWales 2024-01-01 2024-12-31 05232172 2022-12-31 05232172 2023-12-31 05232172 2023-01-01 2023-12-31 05232172 frs-core:CurrentFinancialInstruments 2023-12-31 05232172 frs-core:Non-currentFinancialInstruments 2023-12-31 05232172 frs-core:WithinOneYear 2023-12-31 05232172 frs-core:ShareCapital 2023-12-31 05232172 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05232172 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 05232172
Adams Sales Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—8
Page 1
Company Information
Director Mr D M Morris-Adams
Secretary Mr D M Morris-Adams
Company Number 05232172
Registered Office 54 High Street
Runcorn
Cheshire
WA7 1AW
Accountants ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 1
Page 2
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Adams Sales Limited for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Adams Sales Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Adams Sales Limited , as a body, in accordance with the terms of our engagement letter dated 28 November 2024. Our work has been undertaken solely to prepare for your approval the accounts of Adams Sales Limited and state those matters that we have agreed to state to the director of Adams Sales Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adams Sales Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Adams Sales Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Adams Sales Limited . You consider that Adams Sales Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Adams Sales 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 financial statements.
Signed
12 March 2025
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 2
Page 3
Balance Sheet
Registered number: 05232172
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 9,966 45,119
Investments 6 - 25,227
9,966 70,346
CURRENT ASSETS
Debtors 7 85,961 -
Cash at bank and in hand 287,469 383,790
373,430 383,790
Creditors: Amounts Falling Due Within One Year 8 (104,479 ) (169,616 )
NET CURRENT ASSETS (LIABILITIES) 268,951 214,174
TOTAL ASSETS LESS CURRENT LIABILITIES 278,917 284,520
Creditors: Amounts Falling Due After More Than One Year 9 (9,091 ) (36,364 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,396 ) (4,114 )
NET ASSETS 268,430 244,042
CAPITAL AND RESERVES
Called up share capital 10 4 4
Profit and Loss Account 268,426 244,038
SHAREHOLDERS' FUNDS 268,430 244,042
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D M Morris-Adams
Director
12 March 2025
The notes on pages 5 to 8 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
Adams Sales Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05232172 . The registered office is 54 High Street, Runcorn, Cheshire, WA7 1AW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are intangible data. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery 20% Reducing balance
Motor vehicles 20% Reducing balance
Fixtures and fittings 20% Reducing balance
Computer equipment 20% Reducing balance
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 18)
16 18
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 January 2024 8,701 56,300 65,001
As at 31 December 2024 8,701 56,300 65,001
Amortisation
As at 1 January 2024 8,701 56,300 65,001
As at 31 December 2024 8,701 56,300 65,001
Net Book Value
As at 31 December 2024 - - -
As at 1 January 2024 - - -
5. Tangible Assets
Plant and machinery Motor vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 51,424 28,439 138,063 6,001 223,927
Disposals (44,685 ) (28,439 ) (128,547 ) (1,632 ) (203,303 )
As at 31 December 2024 6,739 - 9,516 4,369 20,624
Depreciation
As at 1 January 2024 47,255 - 131,553 - 178,808
Provided during the period 469 - 1,302 1,200 2,971
Disposals (42,813 ) - (127,982 ) (326 ) (171,121 )
As at 31 December 2024 4,911 - 4,873 874 10,658
Net Book Value
As at 31 December 2024 1,828 - 4,643 3,495 9,966
As at 1 January 2024 4,169 28,439 6,510 6,001 45,119
6. Investments
Listed
£
Cost
As at 1 January 2024 25,227
Disposals (25,227 )
As at 31 December 2024 -
Provision
As at 1 January 2024 -
As at 31 December 2024 -
...CONTINUED
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Net Book Value
As at 31 December 2024 -
As at 1 January 2024 25,227
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
7. Debtors
2024 2023
£ £
Due within one year
Director's loan account 85,961 -
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 27,273 27,273
Corporation tax 17,033 6,874
Other taxes and social security - 18,586
VAT 47,360 21,550
Other creditors 1,546 15,138
Adams Lettings Limited 8,000 -
Accruals and deferred income 3,267 1,650
Director's loan account - 78,545
104,479 169,616
The loan above was obtained under the government bounceback loan scheme and is therefore 100% secured by the government with no charge over the assets of the company.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,091 36,364
The loan above was obtained under the government bounceback loan scheme and is therefore 100% secured by the government with no charge over the assets of the company.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 7,423 4,655
7,423 4,655
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12. Directors Advances, Credits and Guarantees
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Damian Morris-Adams - 85,961 - - 85,961
13. Related Party Transactions
The following related party transactions were undertaken during the year:
Directors remuneration was paid to the director totalling £9,100 (2023: £9,100).
During the year a director introduced £23,000 (2023: £78,545)  and withdrew £187,506 (203: £nil) At the balance sheet date the amount from the director was £85,961. (2023 : Owed to director £78,545)
At the year end the company owed £8,000 (2023: £nil) to a a company under common control.
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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