REGISTERED NUMBER: 02192859 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2026

for

Adams & Sons Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

V G J Wood

O Tate

REGISTERED OFFICE:

The Garage

Morcott

Oakham

Rutland

LE15 9DL

REGISTERED NUMBER:

02192859 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Adams & Sons Limited for the year ended 31 March 2026 which comprise the Statement of Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Adams & Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Adams & Sons Limited and state those matters that we have agreed to state to the Board of Directors of Adams & Sons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adams & Sons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Adams & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Adams & Sons Limited. You consider that Adams & Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Adams & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

3 November 2026

FIXED ASSETS

Tangible assets

4

1,652,386

1,173,600

Investment property

5

252,501

-

1,904,887

1,173,600

CURRENT ASSETS

Stocks

1,038,341

864,094

Debtors

6

155,096

374,059

Cash at bank and in hand

257,859

325,879

1,451,296

1,564,032

CREDITORS

Amounts falling due within one year

7

539,646

431,295

NET CURRENT ASSETS

911,650

1,132,737

TOTAL ASSETS LESS CURRENT LIABILITIES

2,816,537

2,306,337

CREDITORS

Amounts falling due after more than one year

8

(8,149

)

(13,995

)

PROVISIONS FOR LIABILITIES

(170,155

)

(49,109

)

NET ASSETS

2,638,233

2,243,233

CAPITAL AND RESERVES

Called up share capital

10

100

100

Revaluation reserve

11

853,416

481,048

Other reserves

12,039

10,087

Retained earnings

1,772,678

1,751,998

SHAREHOLDERS' FUNDS

2,638,233

2,243,233

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2026 and were signed on its behalf by:

V G J Wood - Director

1.	STATUTORY INFORMATION

Adams & Sons 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.

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 as modified by the revaluation of certain assets.

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 when the goods and services are delivered to the customer.

Tangible fixed assets

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

Motor vehicles - 25% on reducing balance

Fixtures and fittings - 4% on cost

Plant and machinery - 15% on reducing balance

Freehold land and buildings are stated at revalued amount less accumulated depreciation and impairment. Revaluation gains and losses are recognised in other comprehensive income, except to the extent that they reverse a previous revaluation loss or exceed a previous revaluation surplus, when they are recognised in profit or loss.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.

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.

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 the profit or loss in the period to which they relate.

Funding income

Income received relating to the purchase of capital assets has been included as deferred income within creditors, and is being released to the profit and loss account over the life of the assets to which it relates, or as defined in the funding agreement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2025 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2025

1,003,510

442,098

116,506

4,880

1,566,994

Disposals

-

(1,166

)

-

-

(1,166

)

Revaluations

496,490

-

-

-

496,490

At 31 March 2026

1,500,000

440,932

116,506

4,880

2,062,318

DEPRECIATION

At 1 April 2025

-

364,208

27,966

1,220

393,394

Charge for year

-

11,610

4,661

915

17,186

Eliminated on disposal

-

(648

)

-

-

(648

)

At 31 March 2026

-

375,170

32,627

2,135

409,932

NET BOOK VALUE

At 31 March 2026

1,500,000

65,762

83,879

2,745

1,652,386

At 31 March 2025

1,003,510

77,890

88,540

3,660

1,173,600

Cost or valuation at 31 March 2026 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2019

292,605

-

-

-

292,605

Valuation in 2026

496,490

-

-

-

496,490

Cost

710,905

440,932

116,506

4,880

1,273,223

1,500,000

440,932

116,506

4,880

2,062,318

If Freehold property had not been revalued they would have been included at the following historical cost:

31.3.26

31.3.25

£

£

Cost

710,905

710,905

Aggregate depreciation

288,791

276,619

Value of land in freehold land and buildings

130,000

130,000

Freehold property was valued on market value basis on 25 October 2026 by BTG Eddisons .

At the balance sheet date, the directors have elected to bring forward the valuation performed on the freehold property.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

252,501

At 31 March 2026

252,501

NET BOOK VALUE

At 31 March 2026

252,501

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

67,153

58,316

Other debtors

77,522

77,522

Directors' current accounts

-

229,693

Prepayments and accrued income

10,421

8,528

155,096

374,059

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

4,409

10,397

Trade creditors

361,474

165,613

Corporation tax

38,452

120,145

Social security and other taxes

18,888

14,443

VAT

44,070

50,814

Other creditors

3,277

2,666

Directors' current accounts

789

-

Accruals and deferred income

68,287

67,217

539,646

431,295

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans - 1-2 years

-

4,409

Accruals and deferred income

8,149

9,586

8,149

13,995

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.26

31.3.25

£

£

Within one year

8,292

8,241

Between one and five years

-

8,010

8,292

16,251

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

75

Ordinary

£1

75

75

25

Ordinary A

£1

25

25

100

100

11.

RESERVES

Revaluation

reserve

£

At 1 April 2025

481,048

Revaluation

372,368

At 31 March 2026

853,416

12.	CONTINGENT LIABILITIES

In previous years, the company received a capital contribution towards refurbishment costs from one of its suppliers.

As part of the agreement attached to this contribution the company signed a 5 year retail agreement with this supplier. Any breach or cancellation of this agreement would see the contributed amount become repayable proportionally based on the time of breach/cancellation.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2026 and the period ended 31 March 2025:

31.3.26

31.3.25

£

£

V G J Wood

Balance outstanding at start of year

229,693

187,039

Amounts advanced

105,307

122,654

Amounts repaid

(335,000

)

(80,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

229,693

No interest was charged on the balance during the year. The loan was unsecured and repayable on demand.

14.	POST BALANCE SHEET EVENTS

Subsequent to the year end, VGJ Wood Holdings Limited acquired the entire issued share capital of the company and became its immediate parent undertaking. The transaction took place after the reporting date and has therefore not resulted in any adjustment to these financial statements.

15.	SHARE-BASED PAYMENT TRANSACTIONS

On 3 February 2020, a share option was granted to three employees for a maximum of 6 Ordinary shares each with an exercise price £3,254 per share. The expiry date for this option is 2 February 2030. At 31 March 2025, one option remained. During the year, no share options were exercised. At the balance sheet date one option remained.