Company registration number 05594506 (England and Wales)
HENRY ADAMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
HENRY ADAMS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
HENRY ADAMS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
5
367,278
183,176
Cash at bank and in hand
213,222
280,388
580,500
463,564
Creditors: amounts falling due within one year
6
(95,228)
(85,529)
Net current assets
485,272
378,035
Capital and reserves
Called up share capital
7
50
50
Profit and loss reserves
485,222
377,985
Total equity
485,272
378,035
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 25 July 2025 and are signed on its behalf by:
Mr P H F Jordan
Director
Company registration number 05594506 (England and Wales)
HENRY ADAMS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
50
364,733
364,783
Year ended 31 March 2024:
Profit and total comprehensive income
-
203,252
203,252
Dividends
-
(190,000)
(190,000)
Balance at 31 March 2024
50
377,985
378,035
Year ended 31 March 2025:
Profit and total comprehensive income
-
237,237
237,237
Dividends
-
(130,000)
(130,000)
Reduction of shares
7
(50)
(50)
Other movements
50
-
50
Balance at 31 March 2025
50
485,222
485,272
HENRY ADAMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information
Henry Adams Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mulberry House, The Square, Storrington, West Sussex, RH20 4DJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for in respect of licences for the use of the Henry Adams brand.
1.3
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 3 years.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
HENRY ADAMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
4
4
HENRY ADAMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
120,599
Amortisation and impairment
At 1 April 2024 and 31 March 2025
120,599
Carrying amount
At 31 March 2025
At 31 March 2024
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
37,439
55,700
Other debtors
174,919
100
212,358
55,800
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
154,920
127,376
Total debtors
367,278
183,176
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
786
257
Corporation tax
79,000
67,800
Other taxation and social security
14,396
16,426
Other creditors
1,046
1,046
95,228
85,529
HENRY ADAMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
0
50
50
A ordinary shares of £1 each
13
0
13
B ordinary shares of £1 each
13
0
13
C ordinary shares of £1 each
12
0
12
D ordinary shares of £1 each
12
0
12
50
50
50
50
During the year the ordinary shares were reclassified. The shares rank pari passu in all respects.
8
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Included within other debtors is £154,920 (2024: £127,376) due from Henry Adams Strategic Land, a company with common directors and shareholders. Interest of £4,920 (2024: £11,416) was charged on the loan.
9
Directors' transactions
Dividends totalling £130,000 (2024 - £190,000) were paid in the year in respect of shares held by the company's directors.
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Loan to directors
2.25
-
170,000
4,819
174,819
-
170,000
4,819
174,819