| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Adam Walters Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Adam Walters Limited |
| Adam Walters Limited (Registered number: 07223054) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Adam Walters Limited (Registered number: 07223054) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| The directors acknowledge their 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. |
| Adam Walters Limited (Registered number: 07223054) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Adam Walters Limited (Registered number: 07223054) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | Statutory information |
| Adam Walters Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. |
| Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: |
| Plant and machinery - 15% on reducing balance |
| Motor vehicles - 25% on cost |
| Fixtures and fittings - 25% on cost and 15% on reducing balance |
| Freehold property - 1% on cost |
| Adam Walters Limited (Registered number: 07223054) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 3. | Accounting policies - continued |
| Inventories |
| Inventory is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
| Debt instruments are subsequently measured at amortised cost. |
| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities. |
| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
| 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. |
| Adam Walters Limited (Registered number: 07223054) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 3. | 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. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| 5. | Tangible fixed assets |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| Depreciation |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| Included in cost of land and buildings is freehold land of £ 242,590 (2024 - £ 600,592 ) which is not depreciated. |
| Adam Walters Limited (Registered number: 07223054) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 6. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Preference shares |
| Repayable by instalments |
| Bank loans - 5+ years | 62,994 | 111,212 |
| Adam Walters Limited (Registered number: 07223054) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 9. | Secured debts |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans | 263,517 | 305,789 |
| Bank loans are secured by way of charge over the company's freehold property. |
| 10. | Directors' advances, credits and guarantees |
| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 11. | Related party disclosures |
| Included within debtors is a balance of £292,376 (2024: £302,503) due by a Immax Ltd, a company in which the directors have an interest. |
| During the financial year , Adam Walters Limited sold a parcel of land to a related party, for a total consideration of £350,000. |