W H Adams & Sons (Construction) Ltd

W H ADAMS & SONS (CONSTRUCTION) LTD. - Company Information

2022-01-012022-12-312022-12-31false06488580W H Adams & Sons (Construction) 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Registered Number
06488580
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

W H Adams & Sons (Construction) Ltd

Company Information
for the year from 1 January 2022 to 31 December 2022


Directors	Jack Adams
	Mark Antony Adams


Registered Address	107 North Street
	Martock
	Somerset
	TA12 6EJ


Registered Number	06488580 (England and Wales)

W H Adams & Sons (Construction) Ltd

Balance Sheet as at
31 December 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	5		18,256		24,341
			18,256		24,341
Current assets
Stocks		15,537		8,773
Debtors		20,885		10,292
Cash at bank and on hand		69,802		67,309
		106,224		86,374
Creditors amounts falling due within one year	7	(51,130)		(44,672)
Net current assets (liabilities)			55,094		41,702
Total assets less current liabilities			73,350		66,043
Creditors amounts falling due after one year	8		(9,662)		(13,667)
Provisions for liabilities			(3,469)		(4,625)
Net assets			60,219		47,751
Capital and reserves
Called up share capital			100		100
Profit and loss account			60,119		47,651
Shareholders' funds			60,219		47,751

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 14 June 2023, and are signed on its behalf by:

Jack Adams
Director

Mark Antony Adams
Director

Registered Company No. 06488580

W H Adams & Sons (Construction) Ltd

Notes to the Financial Statements
for the year ended 31 December 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	25
	Fixtures and fittings	25
	Vehicles	25
	Office Equipment	25

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

4.	Employee information


		2022		2021
	Average number of employees during the year	4		4

5.	Property, plant and equipment

		Total
		£
	Cost or valuation
	At 01 January 22	49,601
	At 31 December 22	49,601
	Depreciation and impairment
	At 01 January 22	25,260
	Charge for year	6,085
	At 31 December 22	31,346
	Net book value
	At 31 December 22	18,256
	At 31 December 21	24,341

6.	Debtors within one year

	2022	2021
	£	£
Trade debtors / trade receivables	12,898	6,289
Other debtors	6,849	3,147
Prepayments and accrued income	1,138	856
Total	20,885	10,292


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

7.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	10,699	7,230
Bank borrowings and overdrafts	4,002	4,000
Amounts owed to related parties	17,697	14,272
Taxation and social security	16,027	16,934
Other creditors	1,329	1,040
Accrued liabilities and deferred income	1,376	1,196
Total	51,130	44,672


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Creditors after one year

	2022	2021
	£	£
Bank borrowings and overdrafts	9,662	13,667
Total	9,662	13,667