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Registration number: 00942611

Adan Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Adan Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Adan Limited

Company Information

Director

Mr S K Uppaluri

Registered office

Albion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

Accountants

Cannon Williamson
Chartered Certified AccountantsAlbion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

 

Adan Limited

(Registration number: 00942611)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed Assets

 

Tangible Assets

4

844,924

790,243

Current assets

 

Stocks

5

527,416

478,263

Debtors

6

243,828

287,811

Cash at bank and in hand

 

297,515

205,683

 

1,068,759

971,757

Creditors: Amounts falling due within one year

7

(164,587)

(205,334)

Net current assets

 

904,172

766,423

Total assets less current liabilities

 

1,749,096

1,556,666

Creditors: Amounts falling due after more than one year

7

(19,566)

-

Provisions for liabilities

(167,653)

(161,338)

Net assets

 

1,561,877

1,395,328

Capital and Reserves

 

Called up share capital

8

3,002

3,002

Capital redemption reserve

7,475

7,475

Revaluation reserve

235,110

235,110

Retained Earnings

1,316,290

1,149,741

Shareholders' funds

 

1,561,877

1,395,328

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 June 2025
 

 

Adan Limited

(Registration number: 00942611)
Balance Sheet as at 31 March 2025 (continued)

.........................................
Mr S K Uppaluri
Director

 

Adan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Albion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD
United Kingdom

These financial statements were authorised for issue by the director on 18 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Departure from requirements of FRS 102

For freehold land and buildings the revalued amount is being treated as deemed cost. These assets are in use within the business and are maintained to such a standard that their residual value is not deemed to be less than this amount. No depreciation has been charged on these assets.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Adan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

0%

Buildings

0%

Plant and Machinery

10%-33% Straight Line

Business combinations

The Ultimate parent is Adan Holdings Ltd. The group is small and therefore no group accounts have been prepared.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Adan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Adan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 19 (2024 - 17).

4

Tangible Assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2024

380,000

33,150

1,083,327

1,496,477

Additions

-

35,880

118,730

154,610

Disposals

-

-

(16,000)

(16,000)

At 31 March 2025

380,000

69,030

1,186,057

1,635,087

Depreciation

At 1 April 2024

-

23,950

682,284

706,234

Charge for the year

-

9,476

83,786

93,262

Eliminated on disposal

-

-

(9,333)

(9,333)

At 31 March 2025

-

33,426

756,737

790,163

Carrying amount

At 31 March 2025

380,000

35,604

429,320

844,924

At 31 March 2024

380,000

9,200

401,043

790,243

Included within the net book value of land and buildings above is £380,000 (2024 - £380,000) in respect of freehold land and buildings.
 

Revaluation

 

Adan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Tangible Assets (continued)

The fair value of the company's Land and Buildings was revalued on 31 March 2023 by an independent valuer.
Freehold land and buildings detailed above are in use by the business. These are revalued by the directors on an open market basis, the last revaluation having been carried out on 31 March 2023. The name and qualification of the independent valuer are .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2024 - £Nil).

5

Stocks

2025
£

2024
£

Other inventories

527,416

478,263

6

Debtors

Current

2025
£

2024
£

Trade Debtors

187,827

257,210

Prepayments

24,020

28,790

Other debtors

31,981

1,811

 

243,828

287,811

 

Adan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

6,639

-

Trade Creditors

 

94,523

94,508

Taxation and social security

 

57,602

103,812

Accruals and deferred income

 

4,853

5,883

Other creditors

 

970

1,131

 

164,587

205,334

Current loans and borrowings

2025
£

2024
£

HP and finance lease liabilities

6,639

-

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

19,566

-

Non-current loans and borrowings

2025
£

2024
£

HP and finance lease liabilities

19,566

-

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

3,000

3,000

3,000

3,000

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

3,002

3,002

3,002

3,002

 

Adan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Hire purchase contracts

19,566

-

Current loans and borrowings

2025
£

2024
£

Hire purchase contracts

6,639

-

10

Related party transactions

The entire share capital is owned by Adan Holdings Ltd.