Company registration number 13639155 (England and Wales)
ADAPT INTERIORS SOUTHERN LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ADAPT INTERIORS SOUTHERN LTD
COMPANY INFORMATION
Directors
Mr T Silverthorn
Mr J Denyer-Hampton
Company number
13639155
Registered office
C/O Xeinadin First Floor Secure House
Lulworth Close
Chandler's Ford
Southampton
Hampshire
England
SO53 3TL
Accountants
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
ADAPT INTERIORS SOUTHERN LTD
CONTENTS
Page
Directors' report
1
Accountants' report
2
Statement of income and retained earnings
3
Balance sheet
4
Notes to the financial statements
5 - 7
ADAPT INTERIORS SOUTHERN LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 30 September 2024.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr T Silverthorn
Mr J Denyer-Hampton
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr T Silverthorn
Director
26 June 2025
ADAPT INTERIORS SOUTHERN LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF ADAPT INTERIORS SOUTHERN LTD
- 2 -

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 September 2024.

We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

 

The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.

Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH
United Kingdom
26 June 2025
ADAPT INTERIORS SOUTHERN LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
2024
2023
Notes
£
£
Turnover
174,375
230,345
Cost of sales
(79,936)
(123,830)
Gross profit
94,439
106,515
Administrative expenses
(102,815)
(137,616)
Other operating income
100
85
Operating loss
(8,276)
(31,016)
Interest receivable and similar income
50
-
0
Interest payable and similar expenses
(167)
(65)
Loss before taxation
(8,393)
(31,081)
Tax on loss
(4,649)
4,429
Loss for the financial year
(13,042)
(26,652)
Retained earnings brought forward
14
30,666
Dividends
-
0
(4,000)
Retained earnings carried forward
(13,028)
14

The profit and loss account has been prepared on the basis that all operations are continuing operations.

ADAPT INTERIORS SOUTHERN LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
29,221
20,814
Current assets
Debtors
4
34,200
20,058
Cash at bank and in hand
3,356
3,174
37,556
23,232
Creditors: amounts falling due within one year
5
(61,875)
(41,076)
Net current liabilities
(24,319)
(17,844)
Total assets less current liabilities
4,902
2,970
Creditors: amounts falling due after more than one year
6
(10,325)
-
Provisions for liabilities
(7,305)
(2,656)
Net (liabilities)/assets
(12,728)
314
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
(13,028)
14
Total equity
(12,728)
314

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 June 2025 and are signed on its behalf by:
Mr T Silverthorn
Director
Company registration number 13639155 (England and Wales)
ADAPT INTERIORS SOUTHERN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
1
Accounting policies
Company information

Adapt Interiors Southern Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O Xeinadin First Floor Secure House, Lulworth Close, Chandler's Ford, Southampton, Hampshire, England, SO53 3TL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
33% on reducing balance
Computer equipment
33% on reducing balance
Motor vehicles
25% on cost
Office equipment
Enter depreciation rate via StatDB - cd199

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ADAPT INTERIORS SOUTHERN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Leases
As lessee

At inception, the company assesses whether a contract is, or contains, a lease. A lease arises where the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control of the use of an asset occurs where the company has both the right to direct the use of the asset, and the right to obtain substantially all the economic benefits from that use.

 

Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within the same line items on the Balance sheet as owned assets.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
ADAPT INTERIORS SOUTHERN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Office equipment
Total
£
£
£
£
£
Cost
At 1 October 2023
2,994
2,394
31,500
-
0
36,888
Additions
986
-
0
16,990
133
18,109
Disposals
-
0
-
0
(7,750)
-
0
(7,750)
At 30 September 2024
3,980
2,394
40,740
133
47,247
Depreciation and impairment
At 1 October 2023
822
815
14,437
-
0
16,074
Depreciation charged in the year
781
521
7,875
41
9,218
Eliminated in respect of disposals
-
0
-
0
(7,266)
-
0
(7,266)
At 30 September 2024
1,603
1,336
15,046
41
18,026
Carrying amount
At 30 September 2024
2,377
1,058
25,694
92
29,221
At 30 September 2023
2,172
1,579
17,063
-
0
20,814
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
9,854
-
0
Other debtors
24,346
20,058
34,200
20,058
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,230
501
Taxation and social security
(138)
(343)
Other creditors
57,783
40,918
61,875
41,076
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
10,325
-
0
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