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H J Adu & Sons Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Kane & Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07496415
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 87,693 96,346
87,693 96,346
CURRENT ASSETS
Stocks 6 109,360 89,290
Debtors 7 294,360 281,320
Cash at bank and in hand 54,952 67,657
458,672 438,267
Creditors: Amounts Falling Due Within One Year 8 (198,957 ) (153,365 )
NET CURRENT ASSETS (LIABILITIES) 259,715 284,902
TOTAL ASSETS LESS CURRENT LIABILITIES 347,408 381,248
Creditors: Amounts Falling Due After More Than One Year 9 (34,375 ) (71,875 )
NET ASSETS 313,033 309,373
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 312,933 309,273
SHAREHOLDERS' FUNDS 313,033 309,373
Page 1
Page 2
For the year ending 31 January 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Henrietta Adu
Director
30/05/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
H J Adu & Sons Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07496415 . The registered office is 67 Northease Drive, Hove, BN3 8PP.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life.
2.4. 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.
Leasehold
Plant & Machinery
Motor Vehicles
Fixtures & Fittings
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2024 351,499
As at 31 January 2025 351,499
Amortisation
As at 1 February 2024 351,499
As at 31 January 2025 351,499
Net Book Value
As at 31 January 2025 -
As at 1 February 2024 -
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5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2024 55,519 60,278 50,372 166,169
As at 31 January 2025 55,519 60,278 50,372 166,169
Depreciation
As at 1 February 2024 4,615 40,495 24,713 69,823
Provided during the period - 4,946 3,707 8,653
As at 31 January 2025 4,615 45,441 28,420 78,476
Net Book Value
As at 31 January 2025 50,904 14,837 21,952 87,693
As at 1 February 2024 50,904 19,783 25,659 96,346
6. Stocks
2025 2024
£ £
Stock 109,360 89,290
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 103,080 107,029
Prepayments and accrued income 1,042 1,042
Other debtors 6,250 6,350
VAT 27,981 10,892
138,353 125,313
Due after more than one year
Amounts owed by group undertakings - Southwick Gifts Ltd 156,007 156,007
294,360 281,320
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 160,620 138,281
Corporation tax 8,648 9,245
Other taxes and social security 22 930
Pensions Payable 583 172
Accruals and deferred income 4,125 4,185
Directors' loan accounts 24,959 552
198,957 153,365
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 34,375 71,875
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
11. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 20,000 40,000
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