Adam James Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05201871 (England and Wales)

Financial Statements for the Year Ended 31 July 2025

for

Adam James Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J J Pye

Mrs M A Pye

A J W Pye

A Pye

Miss M Pye

SECRETARY:

Mrs M A Pye

REGISTERED OFFICE:

Lamb Close House

Moorgreen

Nottingham

NG16 3QX

REGISTERED NUMBER:

05201871 (England and Wales)

AUDITORS:

UHY Hacker Young

14 Park Row

Nottingham

NG1 6GR

FIXED ASSETS

Tangible assets

4

38,478

51,304

Investment property

5

35,286,760

32,499,488

35,325,238

32,550,792

CURRENT ASSETS

Debtors

6

94,423

132,364

Cash at bank

250,147

113,962

344,570

246,326

CREDITORS

Amounts falling due within one year

7

8,854,305

8,207,804

NET CURRENT LIABILITIES

(8,509,735

)

(7,961,478

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

26,815,503

24,589,314

CREDITORS

Amounts falling due after more than one
year

8

(10,554,778

)

(10,818,662

)

PROVISIONS FOR LIABILITIES

10

(2,819,239

)

(2,244,698

)

NET ASSETS

13,441,486

11,525,954

CAPITAL AND RESERVES

Called up share capital

1,261,502

Share premium

1,616

Fair value reserve

9,134,133

7,410,508

Retained earnings

3,044,235

2,852,328

SHAREHOLDERS' FUNDS

13,441,486

11,525,954

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2026 and were signed on its behalf by:

A J W Pye - Director

1.	STATUTORY INFORMATION

Adam James Limited is a private company, limited by shares , registered in England and Wales. 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 to have been prepared in accordance with the provision of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

During the prior period the company was acquired by John Pye and Sons Holdings Limited, the new Ultimate Controlling party, and changed its year end from 31 December to 31 July 2024.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these 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

Rental income is recognised in the period to which it relates.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the cost attributable to bringing the asset to its working condition for its intended use. Depreciation is charged on a straight line basis at rates calculated to write down assets to estimated residual value over their expected useful life as follows:

Motor vehicles - 25% RB

Investment property

Investment property is shown at most recent valuation, any aggregate surplus or deficit arising from changes in fair value is recognised in the fair value reserve.

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenses. Subsequently the investment property is shown at fair value. Gains or losses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 balance sheet date.

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.

Impairment

Financial assets (including trade and other debtors)

A financial asset not carried at fair value through the profit or loss is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset can be estimated reliably.

An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset's original effective interest rate. For financial instruments measured at cost less impairment an impairment is calculated as the difference between its carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the reporting date. Interest on the impaired asset continues to be recognised through the unwinding of the discount. Impairment losses are recognised in the profit or loss. When subsequent events cause the amount of impairment loss to decrease, the decrease in impairment loss is reversed through the profit or loss.

Basic financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 August 2024

and 31 July 2025

85,424

DEPRECIATION

At 1 August 2024

34,120

Charge for year

12,826

At 31 July 2025

46,946

NET BOOK VALUE

At 31 July 2025

38,478

At 31 July 2024

51,304

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2024

32,499,488

Additions

489,106

Revaluations

2,298,166

At 31 July 2025

35,286,760

NET BOOK VALUE

At 31 July 2025

35,286,760

At 31 July 2024

32,499,488

The portfolio (excluding the 2025 addition) was valued by Savills at £34,797,653 on 24 November 2025. The new property addition during 2025 has been included at cost as this is deemed to be the market value as at 31 July 2025.

Fair value at 31 July 2025 is represented by:

£

Valuation in 2019

9,236,537

Valuation in 2024

467,790

Valuation in 2025

2,298,166

Cost

23,284,267

35,286,760

If the investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

Cost

23,284,267

22,795,161

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

957

Other debtors

93,466

131,407

94,423

132,364

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

262,796

254,892

Trade creditors

165,929

105,430

Amounts owed to group undertakings

7,141,935

7,285,056

Taxation and social security

284,850

339,766

Other creditors

998,795

222,660

8,854,305

8,207,804

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans

10,554,778

10,818,662

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,002,032

4,715,415

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

10,817,574

11,073,554

The company has six loans outstanding at 31 July 2025 which are secured over certain properties of the company.

Interest is charged on loan 1 at the rate of LIBOR plus 1%, the company also entered into an interest rate swap to fix the interest rate at 4.1%.

Interest is charged on loan 2 at a fixed rate of 4.02%.

Interest is charged on loan 4 at a fixed rate of 3.6%

Interest is charged on loan 5 at a fixed rate of 3.5%

Interest is charged on loan 6 at the rate of LIBOR plus 1.60%.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

2,819,239

2,244,698

Deferred tax

£

Balance at 1 August 2024

2,244,698

Provided during year

574,541

Balance at 31 July 2025

2,819,239

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors dated 28 April 2026 was unqualified.

James Simmonds (Senior Statutory Auditor)

for and on behalf of UHY Hacker Young

12.	CONTINGENT LIABILITIES

At the year end the company had a contingent liability of £3,454,328 (2024: £2,941,277), relating to a group cross guarantee.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Amounts advanced by the directors, £13,741 (2024: £2,901), are included within other creditors and are expected to be fully repayable within 12 months of the balance sheet date.

14.	RELATED PARTY DISCLOSURES

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.

Family members of directors are employees and received remuneration of £100,000 (2024: £53,666) during the year.

15.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is John Pye & Sons Holdings Limited, a company incorporated in England and

Wales which is the largest group to consolidate the financial statements of the company.

The ultimate controlling party is considered to be the directors and shareholders of the ultimate parent company.

Copies of John Pye & Sons Holdings Limited financial statements can be obtained from James Shipstone House, Radford Road, Nottingham, NG7 7EA.