ADAMSRILL LTD

ADAMSRILL LTD

ADAMSRILL LTD - Company Information

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ADAMSRILL LTD

Company Registration Number:
11009554 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2020

Period of accounts

Start date: 01 April 2019

End date: 31 March 2020

ADAMSRILL LTD

Contents of the Financial Statements

for the Period Ended 31 March 2020

Balance sheet
Notes

ADAMSRILL LTD

Balance sheet

As at 31 March 2020


Notes
2020
18 months to 31 March 2019


£
£
Fixed assets
Tangible assets: 3 55,982 52,803
Total fixed assets: 55,982 52,803
Current assets
Stocks: 2,002,155 1,317,635
Debtors:   73,082 58,613
Cash at bank and in hand: 75,510 35,211
Total current assets: 2,150,747 1,411,459
Creditors: amounts falling due within one year:   (2,381,116) (1,576,679)
Net current assets (liabilities): (230,369) (165,220)
Total assets less current liabilities: (174,387) (112,417)
Creditors: amounts falling due after more than one year:   (28,626) (21,899)
Total net assets (liabilities): (203,013) (134,316)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (203,113) (134,416)
Shareholders funds: (203,013) (134,316)

The notes form part of these financial statements

ADAMSRILL LTD

Balance sheet statements

For the year ending 31 March 2020 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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 & loss account.

This report was approved by the board of directors on 21 December 2020
and signed on behalf of the board by:

Name: Mr D G Hughes
Status: Director

The notes form part of these financial statements

ADAMSRILL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant & Machinery - 25% reducing balance, Fixtures & Fittings - 25% reducing balance, Motor Vehicles - 25% reducing balance,

ADAMSRILL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2020

2. Employees

2020 18 months to 31 March 2019
Average number of employees during the period 3 3

ADAMSRILL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2020

3. Tangible Assets

Total
Cost £
At 01 April 2019 62,250
Additions 17,114
At 31 March 2020 79,364
Depreciation
At 01 April 2019 9,447
Charge for year 13,935
At 31 March 2020 23,382
Net book value
At 31 March 2020 55,982
At 31 March 2019 52,803

ADAMSRILL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2020

4. Post balance sheet events

Adamsrill Ltd has generated revenue of £1,814,950 in the five months following the 31st March 2020, to the sale of three properties. The properties have a carrying value of £1,374,446 and projects stage of completion is 90% at the 31st March 2020.The company is also expected to generate revenue of £860,00 in the subsequent twelve months following the 31st March 2020, based on the sale of two further properties. The properties have a carrying value of £627,709 and projects stage of completion is 75% at the 31st March 2020.