ACCOUNTS - Final Accounts preparation

Registered number: 06586563

ADELAIDE WORKS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

ADELAIDE WORKS LIMITED

REGISTERED NUMBER: 06586563

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Investment property	4		900,000		805,174
Current assets
Cash at bank and in hand		40,715		37,975
Creditors: amounts falling due within one year	5	(10,963)		(10,375)
Net current assets			29,752		27,600

Net assets			929,752		832,774

Capital and reserves
Called up share capital	25,500	25,500
Share premium account	774,500	774,500
Profit and loss account	129,752	32,774
	929,752	832,774

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 August 2026.

R G Ingleton

Director

The notes on pages 2 to 4 form part of these financial statements.

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ADELAIDE WORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Adelaide Works Limited is a private company limited by shares, incorporated in England and Wales (registered number: 06586563). Its registered office is 55 Mowbray Street, Sheffield, South Yorkshire, S3 8EZ. The principal activity of the Company throughout the year continued to be that of letting and operating of own real estate.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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ADELAIDE WORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 4 (2024 - 4).

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ADELAIDE WORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2025	805,174
	Surplus on revaluation	94,826
	At 31 December 2025	900,000

The 2025 valuations were made by an independant professional valuation company, on an open market value basis.

5.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	9,610	9,836
Other taxation and social security	785	-
Accruals and deferred income	568	539
	10,963	10,375

Reserves

Profit and loss account

Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their
current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated
that the surplus on revaluation of the property should be held in a revaluation reserve, which, being and
unrealised surplus, did not form part of the company's distributable reserves, FRS 102 requires that these
surpluses, although still not distributable, be charged through the Profit and Loss Account.

Included within the profit and loss account reserves are non-distributable reserves arising from changes in the fair value of investment property of £94,826.

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