REGISTERED NUMBER: SC414409 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ADAMSON DOORS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S Adamson

R Adamson

C Adamson

A Adamson

REGISTERED OFFICE:

21 Christiegait

Freuchie

Cupar

Fife

KY15 7EG

REGISTERED NUMBER:

SC414409 (Scotland)

ACCOUNTANTS:

Haines Watts

Business Advisors and Accountants

Cluny Court

John Smith Business Park

Kirkcaldy

Fife

KY2 6QJ

FIXED ASSETS

Tangible assets

4

46,033

48,791

Investments

5

-

11,050

46,033

59,841

CURRENT ASSETS

Stocks

402,160

462,533

Debtors

6

311,150

475,468

Cash at bank

121,958

114,644

835,268

1,052,645

CREDITORS

Amounts falling due within one year

7

821,016

915,939

NET CURRENT ASSETS

14,252

136,706

TOTAL ASSETS LESS CURRENT LIABILITIES

60,285

196,547

CREDITORS

Amounts falling due after more than one year

8

(10,717

)

(23,085

)

PROVISIONS FOR LIABILITIES

9

(49,454

)

(83,903

)

NET ASSETS

114

89,559

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14

89,459

114

89,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

A Adamson - Director

1.	STATUTORY INFORMATION

Adamson Doors Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about Adamson Doors Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

RELATED PARTY EXEMPTION

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable in relation to the provision of doors and associated ironmongery excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% per annum on cost

Fixtures and fittings

-

25% per annum reducing balance

Motor vehicles

-

25% per annum on cost

Tangible assets are initially valued at cost.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FIXED ASSET INVESTMENTS

Fixed asset investments are recorded at cost.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

21,123

11,000

9,847

93,398

135,368

Additions

-

-

485

-

485

At 31 December 2024

21,123

11,000

10,332

93,398

135,853

DEPRECIATION

At 1 January 2024

16,519

10,000

7,108

52,950

86,577

Charge for year

1,441

1,000

802

-

3,243

At 31 December 2024

17,960

11,000

7,910

52,950

89,820

NET BOOK VALUE

At 31 December 2024

3,163

-

2,422

40,448

46,033

At 31 December 2023

4,604

1,000

2,739

40,448

48,791

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

58,300

DEPRECIATION

At 1 January 2024

and 31 December 2024

18,325

NET BOOK VALUE

At 31 December 2024

39,975

At 31 December 2023

39,975

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

11,050

Reclassification/transfer

(11,050

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

11,050

The company transferred investments to a group company undertaking as part of a distribution in specie during the year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

227,565

392,941

Other debtors

83,585

82,527

311,150

475,468

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

126,241

133,885

Hire purchase contracts

12,368

12,369

Trade creditors

343,219

524,877

Taxation and social security

68,258

120,957

Other creditors

270,930

123,851

821,016

915,939

The bank hold a floating charge over the undertaking, all property and assets owned at present and in the future.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

10,717

23,085

The bank hold a floating charge over the undertaking, all property and assets owned at present and in the future.

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

11,197

11,646

Repair and warranty provision

38,257

72,257

49,454

83,903

Deferred

tax

£

Balance at 1 January 2024

11,646

Provided during year

(449

)

Balance at 31 December 2024

11,197

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of section 35AC of the Financial Reporting Standard 102 1a 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.