| REGISTERED NUMBER: |
| ADAMS PROPERTIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| REGISTERED NUMBER: |
| ADAMS PROPERTIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| ADAMS PROPERTIES LIMITED (REGISTERED NUMBER: 02254026) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 6 |
| ADAMS PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 26 Park Road |
| Melton Mowbray |
| Leicestershire |
| LE13 1TT |
| ADAMS PROPERTIES LIMITED (REGISTERED NUMBER: 02254026) |
| STATEMENT OF FINANCIAL POSITION |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Fair value reserve | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| ADAMS PROPERTIES LIMITED (REGISTERED NUMBER: 02254026) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 SEPTEMBER 2024 |
| The financial statements were approved by the director and authorised for issue on |
| ADAMS PROPERTIES LIMITED (REGISTERED NUMBER: 02254026) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Adams Properties Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue |
| Revenue represents amounts charged to customers for rent during the year. |
| Investment property |
| Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the income statement and the fair value reserve. No depreciation is provided in respect of investment properties. |
| 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. |
| 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. |
| ADAMS PROPERTIES LIMITED (REGISTERED NUMBER: 02254026) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| Fair value at 30 September 2024 is represented by: |
| £ |
| Valuation in 2008 | (183,540 | ) |
| Valuation in 2016 | 501,029 |
| Valuation in 2017 | 91,750 |
| Valuation in 2020 | 205,000 |
| Valuation in 2021 | 37,000 |
| Valuation in 2022 | 12,730 |
| Valuation in 2023 | 97,975 |
| Cost | 1,451,056 |
| 2,213,000 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 1,451,056 | 1,451,056 |
| Investment properties were valued on an open market basis on 30 September 2024 by the directors . |
| The methods and assumptions used to ascertain the fair values are as follows: |
| The valuations were prepared having regard to the market based evidence for similar properties sold in the local area, subject to occupational leases where relevant. |
| ADAMS PROPERTIES LIMITED (REGISTERED NUMBER: 02254026) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation |
| Directors' current accounts | 16,485 | 56,485 |
| Accruals and deferred income |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 8. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 October 2023 |
| and 30 September 2024 |
| The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable fair value reserve in order to assist with the identification of profits available for distribution. |