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REGISTERED NUMBER: 11505995 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

ADAPT REAL ESTATE LIMITED

ADAPT REAL ESTATE LIMITED (REGISTERED NUMBER: 11505995)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

ADAPT REAL ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: A J Fletcher
J D Taylor
Mrs A Fletcher
Mrs S Taylor





REGISTERED OFFICE: 2 Oakfield Road
Clifton
Bristol
BS8 2AL





REGISTERED NUMBER: 11505995 (England and Wales)





ACCOUNTANTS: PJE Chartered Accountants
2 Oakfield Road
Clifton
Bristol
BS8 2AL

ADAPT REAL ESTATE LIMITED (REGISTERED NUMBER: 11505995)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 801 2,440
Investments 5 500,000 -
500,801 2,440

CURRENT ASSETS
Debtors 6 159,436 637,241
Cash at bank 231,445 169,182
390,881 806,423
CREDITORS
Amounts falling due within one year 7 144,643 171,696
NET CURRENT ASSETS 246,238 634,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

747,039

637,167

PROVISIONS FOR LIABILITIES 200 463
NET ASSETS 746,839 636,704

ADAPT REAL ESTATE LIMITED (REGISTERED NUMBER: 11505995)

BALANCE SHEET - continued
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 200 200
Capital redemption reserve 9 100 100
Retained earnings 9 746,539 636,404
SHAREHOLDERS' FUNDS 746,839 636,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:




J D Taylor - Director



A J Fletcher - Director


ADAPT REAL ESTATE LIMITED (REGISTERED NUMBER: 11505995)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Adapt Real Estate 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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.


ADAPT REAL ESTATE LIMITED (REGISTERED NUMBER: 11505995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


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.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2022
and 30 April 2023 2,017 463 4,826 7,306
DEPRECIATION
At 1 May 2022 594 185 4,087 4,866
Charge for year 807 93 739 1,639
At 30 April 2023 1,401 278 4,826 6,505
NET BOOK VALUE
At 30 April 2023 616 185 - 801
At 30 April 2022 1,423 278 739 2,440

ADAPT REAL ESTATE LIMITED (REGISTERED NUMBER: 11505995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 500,000
At 30 April 2023 500,000
NET BOOK VALUE
At 30 April 2023 500,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 3,665 2,532
Amounts owed by group undertakings 33,762 33,762
Directors' current accounts - 485,419
Tax 115,528 115,528
Prepayments and accrued income 6,481 -
159,436 637,241

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 14,914 10,192
Amounts owed to group undertakings - 15,964
Tax 97,913 116,049
S455 Tax Creditor - 2,351
Social security and other taxes 400 577
VAT 22,654 23,087
Other creditors 3,067 3,067
Directors' current accounts 4,873 -
Accrued expenses 822 409
144,643 171,696

ADAPT REAL ESTATE LIMITED (REGISTERED NUMBER: 11505995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
200 Share capital 1 £1 200 200

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 May 2022 636,404 100 636,504
Profit for the year 350,135 350,135
Dividends (240,000 ) (240,000 )
At 30 April 2023 746,539 100 746,639

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022:

30.4.23 30.4.22
£    £   
A J Fletcher and J D Taylor
Balance outstanding at start of year 485,419 348,236
Amounts advanced 9,708 137,183
Amounts repaid (500,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,873 ) 485,419

11. RELATED PARTY DISCLOSURES

At the end of the year included in creditors was an amount of £0 (2022: £15,964) owed to Adapt Properties South West Ltd a company which is owned by the directors.

At the year end included in creditors is an amount of £4,873 owed to the directors by the company (2022:
debtor £485,419).

ADAPT REAL ESTATE LIMITED (REGISTERED NUMBER: 11505995)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors by virtue of their shareholding.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ADAPT REAL ESTATE LIMITED


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 Income Statement 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 Adapt Real Estate Limited for the year ended 30 April 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Adapt Real Estate 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 Adapt Real Estate Limited and state those matters that we have agreed to state to the Board of Directors of Adapt Real Estate 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 Adapt Real Estate Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Adapt Real Estate 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 Adapt Real Estate Limited. You consider that Adapt Real Estate 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 Adapt Real Estate 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.






PJE Chartered Accountants
2 Oakfield Road
Clifton
Bristol
BS8 2AL



CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ADAPT REAL ESTATE LIMITED


31 January 2024