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REGISTERED NUMBER: 09339658 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2022

for

Adaptive Startup Limited

Adaptive Startup Limited (Registered number: 09339658)






Contents of the Financial Statements
for the Year Ended 31st December 2022




Page

Balance Sheet 1

Notes to the Financial Statements 3


Adaptive Startup Limited (Registered number: 09339658)

Balance Sheet
31st December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,253 2,852
Investments 5 397,970 397,970
399,223 400,822

CURRENT ASSETS
Debtors 6 707,655 386,902
Cash at bank 46,255 10,573
753,910 397,475
CREDITORS
Amounts falling due within one year 7 326,083 341,439
NET CURRENT ASSETS 427,827 56,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

827,050

456,858

CAPITAL AND RESERVES
Called up share capital 467 466
Share premium 397,502 397,502
Revaluation reserve 1,033 2,633
Capital redemption reserve 39 39
Retained earnings 428,009 56,218
SHAREHOLDERS' FUNDS 827,050 456,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Adaptive Startup Limited (Registered number: 09339658)

Balance Sheet - continued
31st December 2022


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st October 2023 and were signed by:





J Levstek - Director


Adaptive Startup Limited (Registered number: 09339658)

Notes to the Financial Statements
for the Year Ended 31st December 2022

1. STATUTORY INFORMATION

Adaptive Startup Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09339658

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Preparation of consolidated financial statements
The financial statements contain information about Adaptive Startup Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Intangible assets
Intangible Assets including cryptocurrencies are initially measured at cost and subsequent revaluations going
through the statement of other comprehensive income.

Cryptocurrencies are not amortised due to their indefinite useful economic life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
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.

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 profit or loss in the period to which they relate.

Investments
Fixed asset investments are stated at cost less provisions for permanent diminution in value.

Adaptive Startup Limited (Registered number: 09339658)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1st January 2022 2,852
Revaluations (1,599 )
At 31st December 2022 1,253
NET BOOK VALUE
At 31st December 2022 1,253
At 31st December 2021 2,852

Cost or valuation at 31st December 2022 is represented by:

Other
intangible
assets
£   
Valuation in 2018 (106 )
Valuation in 2019 (13 )
Valuation in 2020 452
Valuation in 2021 2,300
Valuation in 2022 (1,599 )
Cost 219
1,253

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st January 2022
and 31st December 2022 397,970
NET BOOK VALUE
At 31st December 2022 397,970
At 31st December 2021 397,970

Adaptive Startup Limited (Registered number: 09339658)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 334,733 104,679
Other debtors 372,922 282,223
707,655 386,902

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 133,917 173,248
Amounts owed to group undertakings 14,875 107,388
Taxation and social security 172,971 47,459
Other creditors 4,320 13,344
326,083 341,439

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2022 and the year ended 31 December 2021:

20222021
£   £   

Amounts Advanced77,58558,856
Amounts Repaid(25,798)(17,058)


The loan to the director is repayable on demand. Interest is charged on loans at the official rate set by HMRC.