REGISTERED NUMBER: 13113517 (England and Wales)

Adams Holdings (N. Wales) Limited

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 30 November 2025

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Statement of Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

Mr R T Adams

Mr S G Adams

Mrs B L Griffin

SECRETARY:

Mrs B Adams

REGISTERED OFFICE:

Unit 9, Tir Llwyd Enterprise Park

St Asaph Avenue

Kinmel Bay

Rhyl

LL18 5JZ

REGISTERED NUMBER:

13113517 (England and Wales)

AUDITORS:

Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

The directors present their strategic report of the company and the group for the year ended 30 November 2025.

REVIEW OF BUSINESS

The Group's consolidated trading is primarily that of the subsidiary operating EvadX Ltd, with its principal activities being that of the design, manufacturing, and installation of steel structures.

The group has seen a decrease in turnover from £12.941 million in 2024 to £7.361 million this year.

Our construction services have a resilient and long standing relationship with the supply chain and the strength of these relationships assisted in managing the customers' expectations, especially around steel prices, from what might otherwise have been a more significant effect. The same can be said for the relationships with customers where the workload volume has increased due to the Group agility and ability to adapt being prepared to flex stock to suit customers' requirements.

EvadX limited:

The year ending 30 November 2025 saw a decrease in turnover from £12.941 million in 2024 to £7.361 million.

Net profit decreased from £0.723m in 2024 to £0.336m which is expected due to the fall in turnover.

We are committed to maintaining a strong balance sheet and at the end of the year the net assets totalled £2.749 million (2024: £2.658 million).

Despite ongoing challenges in the construction industry and the continued pressure on margins from escalating costs, we remain focused on working through these challenges with flexibility and making confident, cost-conscious decisions.

The company continues to deliver quality steelwork contracts and recognises that its success could not be achieved without the resilience, determination and dedication of our team.

PRINCIPAL RISKS AND UNCERTAINTIES

The group regularly reviews the risks and uncertainties within the business, and the principal risks identified follow that of the subsidiary which are as follows:

Competition/maintaining an order book

The majority of the company's turnover is through the traditional procurement process whereby the company submits a tender for the work to be carried out. Competition from other contractors and a downturn in economic conditions would adversely affect the company's ability to secure work. When tendering, careful consideration is also needed due fluctuation in prices and profitability. The company manages the risk by building a strong order book and ensuring contracts are delivered on time, within budget and to the required standard/quality to maintain a good reputation.

Delays in commencement of projects

Whilst our order book remains strong, delay's in construction start dates, which is out of our control remains an ongoing risk and can have a significant impact on business planning, project turnover however, these are closely managed

Credit risk/insolvency of customers

The company recognises the importance of debtor management and the need to reduce the risk of financial loss due to a counterparty's failure to honour its obligation. To manage the credit risk, customers are subject to credit risk assessments and overdue debtors together with retentions are regularly monitored to keep to a minimum.

Health and safety

The company's activities are inherently complex and potentially hazardous and failure to meet safety standards or ineffective management could result in the injury or death of employees, members of the public or third parties. The risk is managed by continuously monitoring and management of health, safety and environmental risks.

Supply Chain

One of the important aspects of the business, is its supply chain management. The company has long standing relationships with its key suppliers to ensure that we achieve the best quality and price whilst also ensuring that we are not over reliant on any one supplier or subcontractor.

Human Resource

The availability of skilled labour continues to be a concern, and the company recognises that a key component to is continued success and to enable it to meet the challenges that it faces is the ability to attract, retain and develop the best people it can.

DEVELOPMENT AND PERFORMANCE

The company remains focused on the future, and despite a decline in business enquires, the company continues to win contracts and holds a strong order book.

The company realises that with the current market conditions, we need to be very flexible and look at various opportunities and income streams by way of small, medium and large contract of all types and believe by having this approach this will give us the strengths and opportunities to succeed in a difficult trading market.

We also recognise the importance of networking and obtaining new contacts to boost our presence and opportunities in the market place.

Combining this with the strength of a resilient team, reinforces the director's confidence in the company's ability to maintain momentum and achieve future growth.

Liquidity challenges continue to be a widespread concern across the supply chain however, we manage this risk by ensuring we are not over reliant on one supplier.

Our cash position remains strong and cash in the bank at the end of the financial year stood at £2.323 million (2024: £1.987 million) The strong liquidity supported by good financial control enables us to pay our supply chain promptly and can also give assurance of long-term solvency.

The company at the year-end remains in a strong financial position.

KEY PERFORMANCE INDICATORS

We provide high satisfaction level with a real focus on customer through listening, understanding and responding which in turn results in customer loyalty which is critical to a long term relationship and many years of repeated business due to our performance. This work is combined with close management of profitable work with positive cashflow lead by sustainability, innovation and lean operations. We ensure competitiveness by efficiency, cost management and reliable suppliers. There is no doubt that the construction industry is a complex and increasingly challenging sector in which to operate successfully. The Group aspirations for the company remains strong.

The trading group's financial and key performance indicators during the period were as follows:

2025

2024

2023

£'000

£'000

£'000

Turnover

7,361

12,941

10,792

Gross Profit

1,595

1,945

2,815

Profit Before Taxation

335

673

1,743

ON BEHALF OF THE BOARD:

Mrs B L Griffin - Director

27 August 2026

The directors present their report with the financial statements of the company and the group for the year ended 30 November 2025.

DIVIDENDS

The total distribution of dividends for the year ended 30 November 2025 will be £ 437,000 .

RESEARCH AND DEVELOPMENT

The group undertakes research and development activities when providing services to clients. The direct expenditure invested is typically included in the relevant project.

FUTURE DEVELOPMENTS

The group continues to promote its reputation for delivering high quality work and by engaging across multiple market streams, our order book remains strong.

The group also continues to look ahead and recognises the importance in the need to actively recruit additional skilled personnel and to retaining our current skilled workforce. Our focus in the forthcoming year is to position ourselves more competitively in the market and to boost the organisation's visibility by engaging more with the community, local schools and colleagues to help attract a new generation of workers.

We are continually working to reduce our carbon footprint and remain committed to reduce our carbon footprint. Our plan to install solar panels has been on hold however, we remain fully committed to implementing them, which will hopefully cut costs, bring in extra revenue, reduce reliance on rising energy prices and minimise its carbon footprint. Energy prices have been increasing gradually for years and this is expected to continue to rise as fossil fuels (which are traditionally used to generate electricity) become harder to source. By generating their own electricity from solar panels they will reduce their reliance on the National Grid and the fluctuating prices. This should make budgeting and forecasting much more straightforward.

As the company does not currently operate during the night, the aim is to still put their solar energy to use. They will be installing a solar storage battery alongside the solar panels which will enable them to store any unused electricity.

Growth and expansion remain firmly on our agenda, and we are continuing to evaluate the potential for establishing an in-house blast and painting operations as part of our long-term development strategy.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 December 2024 to the date of this report.

Mr R T Adams

Mr S G Adams

Mrs B L Griffin

FINANCIAL INSTRUMENTS

The group use various financial instruments including bank loans, cash reserves, hire purchase, finance leases, trade debtors, trade supplier accounts to allow the company to operate effectively.

The existence of these financial instruments could expose the group to a number of risks which are described in more detail below.

The main risks arising from the company's financial instruments are liquidity risk, interest rate risk and credit risk.

Liquidity risk

The group manages financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. The group's liquidity position is reviewed regularly by the directors and the cashflow is forecast regularly to provide up-to-date and accurate information on the group's current cash position. Cash holdings has been further improved during the year.

Interest rate risk

The group finances its operations through a mixture of retained profits, bank loan and asset finance borrowings. The company's exposure to interest rate fluctuation is managed using both fixed and floating facilities.

Credit risk

The group's principal financial assets are trade debtors and other receivables. The group manages credit risk regularly reviews credit rating information regarding organisations in conjunction with debt ageing and collection history.

STRATEGIC REPORT

The review of the business, future developments, key performance indicators and principal risks and uncertainties are included within the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Salisbury & Company Business Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs B L Griffin - Director

27 August 2026

Opinion

We have audited the financial statements of Adams Holdings (N. Wales) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 November 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 30 November 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that the material misstatement in the financial statements may not be detected, even through the audit is properly planned in accordance with ISA (UK).

We obtained an understanding of the legal and regulatory frameworks applicable to the company and the industry in which it operates through our general commercial and sector experience and discussions with management. We determined that the following laws and regulations were most significant: The Companies Act 2006, FRS 102 the 'The Financial Reporting Standards applicable in the UK and Republic of Ireland' and relevant UK tax legislation. In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosure within the financial statements such as Health and Safety laws and regulations.

We accessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedure performed by the engagement team included:

-Discussions with management, including consideration of known or suspect instances of non-compliance with laws and regulations or fraud;

-Obtain an understanding of the internal controls that management have in place to prevent and detect fraud;

-Challenging assumptions and judgements made by management in its significant accounting estimates;

-Reviewing the financial statement disclosures and assessing the appropriateness of the accounting policies used;

-Identifying and testing journal entries, in particular manual and unusual entries;

-Obtaining third party confirmations of all the companies banking arrangements;

-Performing analytical procedure to identify any unusual or unexpected relationships;

-Conclude on the appropriateness of the directors' use of the going concern basis of accounting.

The assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagements team's knowledge of the industry in which the client operates in and understanding of, and practical experience with, audit engagements of a similar nature and complexity through appropriate training and participation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Aled Roberts (Senior Statutory Auditor)

for and on behalf of Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

28 August 2026

TURNOVER

3

7,360,519

12,941,379

Cost of sales

(5,765,458

)

(10,996,074

)

GROSS PROFIT

1,595,061

1,945,305

Administrative expenses

(1,275,515

)

(1,292,647

)

OPERATING PROFIT

5

319,546

652,658

Interest receivable and similar income

18,246

25,990

337,792

678,648

Interest payable and similar expenses

6

(2,589

)

(5,666

)

PROFIT BEFORE TAXATION

335,203

672,982

Tax on profit

7

227,588

(168,511

)

PROFIT FOR THE FINANCIAL YEAR

562,791

504,471

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

562,791

504,471

Profit attributable to:

Owners of the parent

562,791

504,471

Total comprehensive income attributable to:

Owners of the parent

562,791

504,471

FIXED ASSETS

Tangible assets

10

206,596

260,591

Investments

11

-

-

206,596

260,591

CURRENT ASSETS

Stocks

12

237,165

119,785

Debtors

13

1,861,816

2,996,611

Cash at bank and in hand

2,323,495

1,987,209

4,422,476

5,103,605

CREDITORS

Amounts falling due within one year

14

1,554,417

2,390,344

NET CURRENT ASSETS

2,868,059

2,713,261

TOTAL ASSETS LESS CURRENT LIABILITIES

3,074,655

2,973,852

CREDITORS

Amounts falling due after more than one year

15

(16,196

)

(39,518

)

PROVISIONS FOR LIABILITIES

18

(51,649

)

(53,315

)

NET ASSETS

3,006,810

2,881,019

CAPITAL AND RESERVES

Called up share capital

19

10,030

10,030

Merger relief reserve

20

2,989,970

2,989,970

Merger reserve

20

(2,989,970

)

(2,989,970

)

Retained earnings

20

2,996,780

2,870,989

SHAREHOLDERS' FUNDS

24

3,006,810

2,881,019

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2026 and were signed on its behalf by:

Mrs B L Griffin - Director

FIXED ASSETS

Tangible assets

10

155,242

197,202

Investments

11

3,000,000

3,000,000

3,155,242

3,197,202

CURRENT ASSETS

Cash at bank

107,771

64,829

CREDITORS

Amounts falling due within one year

14

3,772

1,928

NET CURRENT ASSETS

103,999

62,901

TOTAL ASSETS LESS CURRENT LIABILITIES

3,259,241

3,260,103

PROVISIONS FOR LIABILITIES

18

38,811

37,468

NET ASSETS

3,220,430

3,222,635

CAPITAL AND RESERVES

Called up share capital

19

10,030

10,030

Merger relief reserve

2,989,970

2,989,970

Retained earnings

220,430

222,635

SHAREHOLDERS' FUNDS

24

3,220,430

3,222,635

Company's profit for the financial year

434,795

487,981

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

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2026 and were signed on its behalf by:

Mrs B L Griffin - Director

Called up

Merger

share

Retained

relief

Merger

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 December 2023

10,030

2,848,518

2,989,970

(2,989,970

)

2,858,548

Changes in equity

Dividends

-

(482,000

)

-

-

(482,000

)

Total comprehensive income

-

504,471

-

-

504,471

Balance at 30 November 2024

10,030

2,870,989

2,989,970

(2,989,970

)

2,881,019

Changes in equity

Dividends

-

(437,000

)

-

-

(437,000

)

Total comprehensive income

-

562,791

-

-

562,791

Balance at 30 November 2025

10,030

2,996,780

2,989,970

(2,989,970

)

3,006,810

Called up

Merger

share

Retained

relief

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 December 2023

10,030

216,654

2,989,970

3,216,654

Changes in equity

Dividends

-

(482,000

)

-

(482,000

)

Total comprehensive income

-

487,981

-

487,981

Balance at 30 November 2024

10,030

222,635

2,989,970

3,222,635

Changes in equity

Dividends

-

(437,000

)

-

(437,000

)

Total comprehensive income

-

434,795

-

434,795

Balance at 30 November 2025

10,030

220,430

2,989,970

3,220,430

Cash flows from operating activities

Cash generated from operations

1

674,553

172,798

Interest paid

(2,589

)

(5,666

)

Tax paid

115,897

(86,114

)

Net cash from operating activities

787,861

81,018

Cash flows from investing activities

Purchase of tangible fixed assets

(11,161

)

(55,309

)

Sale of tangible fixed assets

-

5,257

Interest received

18,246

25,990

Net cash from investing activities

7,085

(24,062

)

Cash flows from financing activities

Capital repayments in year

(22,205

)

(21,141

)

Amount introduced by directors

437,001

482,001

Amount withdrawn by directors

(436,456

)

(481,629

)

Equity dividends paid

(437,000

)

(482,000

)

Net cash from financing activities

(458,660

)

(502,769

)

Increase/(decrease) in cash and cash equivalents

336,286

(445,813

)

Cash and cash equivalents at beginning of year

2

1,987,209

2,433,022

Cash and cash equivalents at end of year

2

2,323,495

1,987,209

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

335,203

672,982

Depreciation charges

65,153

66,991

Loss on disposal of fixed assets

-

11,072

Finance costs

2,589

5,666

Finance income

(18,246

)

(25,990

)

384,699

730,721

Increase in stocks

(117,380

)

(74,908

)

Decrease/(increase) in trade and other debtors

1,172,534

(780,290

)

(Decrease)/increase in trade and other creditors

(765,300

)

297,275

Cash generated from operations

674,553

172,798

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 November 2025

30/11/25

1/12/24

£

£

Cash and cash equivalents

2,323,495

1,987,209

Year ended 30 November 2024

30/11/24

1/12/23

£

£

Cash and cash equivalents

1,987,209

2,433,022

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/12/24

Cash flow

At 30/11/25

£

£

£

Net cash

Cash at bank and in hand

1,987,209

336,286

2,323,495

1,987,209

336,286

2,323,495

Debt

Finance leases

(61,723

)

22,205

(39,518

)

(61,723

)

22,205

(39,518

)

Total

1,925,486

358,491

2,283,977

1.	STATUTORY INFORMATION

Adams Holdings (N. Wales) 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 General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentational and function currency of these financial statements is pound sterling. Monetary amounts in these financial statements are rounded to the nearest £.

Significant judgements and estimates

Estimates and judgments are continually evaluated and are based on historical experience and other factors,

including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

The estimates and judgements which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Work in Progress

Determining the valuation of construction and development contracts requires judgment regarding the stage of completion of contracts at the year end. The judgements are based on the work that has been completed and work that has already been agreed and billed.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing sales raised to date against costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliable, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.