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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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A.E. ADAMS (HENFIELD) LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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A.E. ADAMS (HENFIELD) LIMITED |
A.E. ADAMS (HENFIELD) LIMITED (REGISTERED NUMBER: 00840611) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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A.E. ADAMS (HENFIELD) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
30 New Road |
Brighton |
East Sussex |
BN1 1BN |
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BANKERS: |
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Gatwick & Horsham Business Centre |
Crawley |
West Sussex |
RH10 1YX |
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SOLICITORS: |
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47 Old Steyne |
Brighton |
East Sussex |
BN1 1NW |
A.E. ADAMS (HENFIELD) LIMITED (REGISTERED NUMBER: 00840611) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors on
behalf by: |
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A.E. ADAMS (HENFIELD) LIMITED (REGISTERED NUMBER: 00840611) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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A.E. Adams (Henfield) Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade |
discounts. Revenue for service contracts is accounted for by reference to the stage of completion. |
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Tangible fixed assets |
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Plant & machinery | - |
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Fixtures & Equipment | - |
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Motor vehicles | - |
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Leasehold improvements are amortised by equal instalments over the unexpired term of the lease. |
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Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated |
impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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Stocks |
Stocks of raw materials, intermediate products and finished goods, are stated at the lower of cost and estimated selling price |
less costs to sell. In general, cost is determined on a first in first out basis and where appropriate, includes transport and |
handling costs, after making due allowance for obsolete and slow-moving stocks. Estimated selling price less costs to sell is the |
price at which stocks can be sold in the normal course of business after allowing for the costs of realisation and, where |
appropriate, the costs of conversion from their existing state to a finished condition. Provision is made where necessary for |
obsolescent, slow-moving and defective stock. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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A.E. ADAMS (HENFIELD) LIMITED (REGISTERED NUMBER: 00840611) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance |
sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of |
transaction. Exchange differences are taken into account in arriving at the operating result. |
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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 and loss account in the period to which they relate. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. |
Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Leasehold |
Land & | Plant & | Fixtures | Motor |
Buildings | machinery | & Equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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Disposals |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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A.E. ADAMS (HENFIELD) LIMITED (REGISTERED NUMBER: 00840611) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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5. | STOCKS |
2018 | 2017 |
£ | £ |
Raw materials |
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Work-in-progress |
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Finished goods |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Amounts recoverable on contracts |
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Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Accruals and deferred income |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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9. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 37,000 | 43,000 |
A.E. ADAMS (HENFIELD) LIMITED (REGISTERED NUMBER: 00840611) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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9. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
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Balance at 1 January 2018 |
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Accelerated capital allowances | (6,000 | ) |
Balance at 31 December 2018 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 113,500 | 113,500 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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