Adjustamatic Beds Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Adjustamatic Beds Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01617452 . The registered office is Unit 1 Colomendy Industrial Estate, Rhyl Road, Denbigh, Denbighshire, Clwyd, LL16 5TS.

The presentation currency of the financial statements is the Pound Sterling (£).

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% on cost
Fixtures & Fittings	at varying rates on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.7. Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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Adjustamatic Beds Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Going concern

The company's business activities, together with the factors likely to affect its future development and position, are set out in the Business Review section of the directors' report in the consolidated financial statements.

The company is expected to generate positive cash flows on its own account for the foreseeable future. The company participates in the group's centralised treasury arrangements and so shares banking arrangements with its parent and fellow subsidiaries.

The directors, having assessed the responses of the directors of the company's parent NHC Holdings Limited to their enquiries have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the NHC Holdings Limited group to continue as a going concern or its ability to continue with the current banking arrangements.

On the basis of their assessment of the company's financial position and of the enquiries made of the directors of NHC Holdings Limited, the company directors have a reasonable expectation that the company will be able to continue in the operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has been used.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 13 (2023: 12)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2024	31,656	215,883	247,539
Disposals	(31,656 )	-	(31,656 )

As at 31 December 2024	-	215,883	215,883

Depreciation
As at 1 January 2024	31,656	215,495	247,151
Provided during the period	-	207	207
Disposals	(31,656 )	-	(31,656 )

As at 31 December 2024	-	215,702	215,702

Net Book Value
As at 31 December 2024	-	181	181

As at 1 January 2024	-	388	388

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	28,773	23,527
Amounts owed by group undertakings	2,174,101	1,670,425
Other debtors	101,809	94,415

	2,304,683	1,788,367

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Adjustamatic Beds Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	364,762	391,071
Bank loans and overdrafts	21,369	6,560
Other creditors	125,345	101,329
Taxation and social security	1,177	1,201

	512,653	500,161

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	302,520	302,520

8. Contingent Liabilities

The company has given composite cross guarantees relating to the bank borrowing of certain subsidiary companies. These borrowings amounted to £nil at the year end.

9. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. Audit Information

The auditor's report on the accounts of Adjustamatic Beds Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by K Wood (Senior Statutory Auditor) for and on behalf of JWR Audit Limited , Statutory Auditor.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		181		388

			181		388
CURRENT ASSETS
Debtors	5	2,304,683		1,788,367
Cash at bank and in hand		100		100

		2,304,783		1,788,467
Creditors: Amounts Falling Due Within One Year	6	(512,653 )		(500,161 )

NET CURRENT ASSETS (LIABILITIES)			1,792,130		1,288,306

TOTAL ASSETS LESS CURRENT LIABILITIES			1,792,311		1,288,694

NET ASSETS			1,792,311		1,288,694

CAPITAL AND RESERVES
Called up share capital	7		302,520		302,520
Profit and Loss Account			1,489,791		986,174

SHAREHOLDERS' FUNDS			1,792,311		1,288,694