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REGISTERED NUMBER: 09578395 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

AdaptiVLE Ltd

AdaptiVLE Ltd (Registered number: 09578395)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

AdaptiVLE Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: L Carr
Mrs V E A Carr





REGISTERED OFFICE: Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS





REGISTERED NUMBER: 09578395 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

AdaptiVLE Ltd (Registered number: 09578395)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,361 2,071

CURRENT ASSETS
Debtors 6 25,258 59,007
Cash at bank 146,916 91,558
172,174 150,565
CREDITORS
Amounts falling due within one year 7 (44,930 ) (47,991 )
NET CURRENT ASSETS 127,244 102,574
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,605

104,645

CREDITORS
Amounts falling due after more than one
year

8

(9,860

)

(18,999

)

PROVISIONS FOR LIABILITIES 9 (309 ) (393 )
NET ASSETS 118,436 85,253

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 118,336 85,153
SHAREHOLDERS' FUNDS 118,436 85,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 Statement of Income and Retained Earnings has not been delivered.

AdaptiVLE Ltd (Registered number: 09578395)

Statement of Financial Position - continued
31 May 2024



The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:




L Carr - Director



Mrs V E A Carr - Director


AdaptiVLE Ltd (Registered number: 09578395)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

AdaptiVLE Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

AdaptiVLE Ltd (Registered number: 09578395)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 3,619 16,727 20,346
DEPRECIATION
At 1 June 2023 2,223 16,052 18,275
Charge for year 349 361 710
At 31 May 2024 2,572 16,413 18,985
NET BOOK VALUE
At 31 May 2024 1,047 314 1,361
At 31 May 2023 1,396 675 2,071

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 19,113 50,378
Prepayments 6,145 8,629
25,258 59,007

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 9,145 9,150
Trade creditors - 534
Tax 22,192 8,720
Social security and other taxes 499 3,050
VAT 10,266 20,169
Directors' current accounts 1,351 5,003
Accrued expenses 1,477 1,365
44,930 47,991

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 9,365 9,381
Bank loans - 2-5 years 495 9,618
9,860 18,999

AdaptiVLE Ltd (Registered number: 09578395)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 309 393

Deferred
tax
£   
Balance at 1 June 2023 393
Credit to Statement of Income and Retained Earnings during year (84 )
Balance at 31 May 2024 309

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 June 2023 85,153
Profit for the year 73,183
Dividends (40,000 )
At 31 May 2024 118,336

12. ULTIMATE CONTROLLING PARTY

The directors control the company.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
AdaptiVLE Ltd

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 Statement of Financial Position. 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 AdaptiVLE Ltd for the year ended 31 May 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 AdaptiVLE Ltd, 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 AdaptiVLE Ltd and state those matters that we have agreed to state to the Board of Directors of AdaptiVLE Ltd, 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 AdaptiVLE Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that AdaptiVLE Ltd 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 AdaptiVLE Ltd. You consider that AdaptiVLE Ltd 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 AdaptiVLE Ltd. 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.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


3 October 2024