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Company Registration No: 6011798 (England and Wales)

Adamson Contractors Limited
Unaudited Financial Statements
for the Year Ended 31 December 2024

Adamson Contractors Limited

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 11

Adamson Contractors Limited

(Registration number: 6011798)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 3,675,097 | 3,621,476
Other financial assets | 5 | 2,164 | 2,126
|  | 3,677,261 | 3,623,602
Current assets |  |  |
Stocks | 6 | 54,597 | 52,500
Debtors | 7 | 115,368 | 107,866
Cash at bank and in hand |  | 4,608 | 755
|  | 174,573 | 161,121
Creditors: Amounts falling due within one year | 8 | (1,116,369) | (1,123,926)
Net current liabilities |  | (941,796) | (962,805)
Total assets less current liabilities |  | 2,735,465 | 2,660,797
Creditors: Amounts falling due after more than one year | 8 | (1,475,479) | (1,582,178)
Provisions for liabilities |  | (239,823) | (175,767)
Net assets |  | 1,020,163 | 902,852
Capital and reserves |  |  |
Called up share capital | 9 | 1,000 | 1,000
Share premium reserve |  | 9,009 | 9,009
Retained earnings |  | 1,010,154 | 892,843
Shareholders' funds |  | 1,020,163 | 902,852

Adamson Contractors Limited

(Registration number: 6011798)
Balance Sheet as at 31 December 2024

For the financial 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.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2025 and signed on its behalf by:

......................................... Mr D G Adamson Director
......................................... Mr M Adamson Director
......................................... Mr S Adamson Director

Adamson Contractors Limited

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

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:
Atley Fields
South Cowton
Northallerton
N Yorkshire
DL7 0JB

These financial statements were authorised for issue by the Board on 28 August 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Government grants

Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss account.

Adamson Contractors Limited

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

Tax

The tax expense for the period comprises 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.

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
Leased assets | 10% reducing balance
Plant and machinery | 15% reducing balance
Motor vehicles | 15% reducing balance
Furniture and fittings | 10% straight line
Office equipment | 10% straight line
Buildings | 2% straight line
Yard improvements | 7 year straight line

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.

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 includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition.

Adamson Contractors Limited

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

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 reducing balance 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.

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.

Adamson Contractors Limited

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

Financial instruments

Classification
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
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.
Recognition and measurement
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.
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 receipts 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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 9).

Adamson Contractors Limited

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

4 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 January 2024 | 101,087 | 2,796 | 66,975 | 4,900,038 | 5,070,896
Additions | - | - | 21,995 | 928,168 | 950,163
Disposals | - | - | (14,325) | (739,130) | (753,455)
At 31 December 2024 | 101,087 | 2,796 | 74,645 | 5,089,076 | 5,267,604
Depreciation
At 1 January 2024 | 27,157 | 1,019 | 28,486 | 1,392,757 | 1,449,419
Charge for the year | 1,904 | 279 | 8,415 | 473,817 | 484,415
Eliminated on disposal | - | - | (11,575) | (329,752) | (341,327)
At 31 December 2024 | 29,061 | 1,298 | 25,326 | 1,536,822 | 1,592,507
Carrying amount
At 31 December 2024 | 72,026 | 1,498 | 49,319 | 3,552,254 | 3,675,097
At 31 December 2023 | 73,929 | 1,777 | 38,489 | 3,507,281 | 3,621,476

Included within the net book value of land and buildings above is £72,026 (2023 - £73,929) in respect of freehold land and buildings.

Adamson Contractors Limited

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

5 | Other financial assets (current and non-current)

| Financial assets at cost less impairment £ | Total £
Non-current financial assets
Cost or valuation
At 1 January 2024 | 2,126 | 2,126
Additions | 38 | 38
At 31 December 2024 | 2,164 | 2,164
Impairment
Carrying amount
At 31 December 2024 | 2,164 | 2,164

6 | Stocks

| 2024 £ | 2023 £
Other inventories | 54,597 | 52,500

7 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 99,978 | 102,714
Prepayments | 11,527 | 3,822
Other debtors | 3,863 | 1,330
| 115,368 | 107,866

Adamson Contractors Limited

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

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 10 | 791,249 | 835,075
Trade creditors |  | 114,197 | 146,728
Taxation and social security |  | 121,196 | 64,079
Accruals and deferred income |  | 8,800 | 8,300
Other creditors |  | 80,927 | 69,744
|  | 1,116,369 | 1,123,926

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £791,249 (2023 - £835,075).

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 10 | 1,475,479 | 1,582,178

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £1,475,479 (2023 - £1,582,178).

9 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary of £1 each | 1,000 | 1,000 | 1,000 | 1,000

Adamson Contractors Limited

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

10 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 4,175 | 14,196
Hire purchase contracts | 1,471,304 | 1,567,982
| 1,475,479 | 1,582,178

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 10,023 | 10,022
Hire purchase contracts | 772,942 | 751,203
Other borrowings | 8,284 | 73,850
| 791,249 | 835,075

Adamson Contractors Limited

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

11 | Related party transactions

Transactions with directors

2024 | At 1 January 2024 £ | Advances to director £ | Repayments by director £ | At 31 December 2024 £
During the year, the company made loans to Directors. No interest was charged on the loans. | 1,329 | 2,604 | (70) | 3,864

2023 | At 1 January 2023 £ | Advances to director £ | Repayments by director £ | At 31 December 2023 £
During the year, the company made loans to Directors. No interest was charged on the loans. | (866) | 6,991 | (4,795) | 1,329