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REGISTERED NUMBER: 12368516 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Adams Agricultural Limited

Adams Agricultural Limited (Registered number: 12368516)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Adams Agricultural Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: J A Adams





SECRETARY: Mrs K J D Adams





REGISTERED OFFICE: Willow End
Silchester Road
Little London
Tadley
Hampshire
RG26 5EX





REGISTERED NUMBER: 12368516 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Adams Agricultural Limited (Registered number: 12368516)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,400
Tangible assets 5 406,504 374,046
406,504 376,446

CURRENT ASSETS
Stocks 1,600 1,600
Debtors 6 39,144 42,321
Cash at bank 47,642 7,599
88,386 51,520
CREDITORS
Amounts falling due within one year 7 297,852 310,989
NET CURRENT LIABILITIES (209,466 ) (259,469 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,038

116,977

CREDITORS
Amounts falling due after more than one
year

8

(33,902

)

(16,926

)

PROVISIONS FOR LIABILITIES 11 (49,273 ) (33,523 )
NET ASSETS 113,863 66,528

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 113,763 66,428
SHAREHOLDERS' FUNDS 113,863 66,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Adams Agricultural Limited (Registered number: 12368516)

Balance Sheet - continued
31 December 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 May 2025 and were signed by:





J A Adams - Director


Adams Agricultural Limited (Registered number: 12368516)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Adams Agricultural 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Adams Agricultural Limited (Registered number: 12368516)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 balance sheet date, adjusted for indexation where applicable.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 12,000
AMORTISATION
At 1 January 2024 9,600
Amortisation for year 2,400
At 31 December 2024 12,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 2,400

Adams Agricultural Limited (Registered number: 12368516)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 459,091 18,498 583 478,172
Additions 222,950 - - 222,950
Disposals (158,618 ) - - (158,618 )
At 31 December 2024 523,423 18,498 583 542,504
DEPRECIATION
At 1 January 2024 103,543 - 583 104,126
Charge for year 43,626 4,625 - 48,251
Eliminated on disposal (16,377 ) - - (16,377 )
At 31 December 2024 130,792 4,625 583 136,000
NET BOOK VALUE
At 31 December 2024 392,631 13,873 - 406,504
At 31 December 2023 355,548 18,498 - 374,046

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 39,144 42,321

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts (see note 9) 27,926 28,632
Trade creditors - 15,730
Taxation and social security 18,948 12,492
Other creditors 250,978 254,135
297,852 310,989

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts (see note 9) 33,902 16,926

Adams Agricultural Limited (Registered number: 12368516)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 27,926 28,632
Between one and five years 33,902 16,926
61,828 45,558

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts 61,828 45,558

11. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 49,273 33,523

Deferred
tax
£   
Balance at 1 January 2024 33,523
Accelerated capital allowances 15,750
Balance at 31 December 2024 49,273

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary £1.00 100 100