0 01/04/2024 31/03/2025 2025-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2024-04-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 14700897 2024-04-01 2025-03-31 14700897 2025-03-31 14700897 2024-03-31 14700897 2023-04-01 2024-03-31 14700897 2024-03-31 14700897 2023-03-31 14700897 bus:RegisteredOffice 2024-04-01 2025-03-31 14700897 bus:LeadAgentIfApplicable 2024-04-01 2025-03-31 14700897 bus:Director1 2024-04-01 2025-03-31 14700897 bus:Director2 2024-04-01 2025-03-31 14700897 bus:Director3 2024-04-01 2025-03-31 14700897 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 14700897 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 14700897 core:HedgingReserve 2024-04-01 2025-03-31 14700897 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 14700897 core:WithinOneYear 2025-03-31 14700897 core:WithinOneYear 2024-03-31 14700897 core:AfterOneYear 2025-03-31 14700897 core:AfterOneYear 2024-03-31 14700897 core:ShareCapital 2025-03-31 14700897 core:ShareCapital 2024-03-31 14700897 core:HedgingReserve 2025-03-31 14700897 core:RetainedEarningsAccumulatedLosses 2025-03-31 14700897 core:RetainedEarningsAccumulatedLosses 2024-03-31 14700897 core:ShareCapital 2023-03-31 14700897 core:PreviouslyStatedAmount core:ShareCapital 2025-03-31 14700897 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 14700897 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 14700897 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 14700897 bus:Director1 2024-03-31 14700897 bus:Director1 2025-03-31 14700897 bus:Director2 2024-03-31 14700897 bus:Director2 2025-03-31 14700897 bus:Director3 2024-03-31 14700897 bus:Director3 2025-03-31 14700897 bus:Director1 2024-03-31 14700897 bus:Director2 2024-03-31 14700897 bus:Director3 2024-03-31 14700897 bus:Director1 2023-04-01 2024-03-31 14700897 bus:Director2 2023-04-01 2024-03-31 14700897 bus:Director3 2023-04-01 2024-03-31 14700897 bus:SmallEntities 2024-04-01 2025-03-31 14700897 bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 14700897 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 14700897 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 14700897 bus:FullAccounts 2024-04-01 2025-03-31
Company registration number: 14700897
Adapt Residential Properties Ltd
Unaudited filleted financial statements
31 March 2025
Adapt Residential Properties Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Adapt Residential Properties Ltd
Directors and other information
Directors Mr S Kinsley
Mrs K Farrelly
Mr J Kinsley
Company number 14700897
Registered office 217 Manchester Road
Hollinwood
Oldham
OL8 4QY
Accountant JP Gallagher & Co
106 Moston Lane East
Manchester
M40 3QL
Adapt Residential Properties Ltd
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 4 330,000 265,000
_______ _______
330,000 265,000
Current assets
Cash at bank and in hand 5,437 9,734
_______ _______
5,437 9,734
Creditors: amounts falling due
within one year 5 ( 6,231) ( 3,501)
_______ _______
Net current (liabilities)/assets ( 794) 6,233
_______ _______
Total assets less current liabilities 329,206 271,233
Creditors: amounts falling due
after more than one year 6 ( 246,000) ( 265,000)
_______ _______
Net assets 83,206 6,233
_______ _______
Capital and reserves
Called up share capital 300 300
Fair value reserve 65,000 -
Profit and loss account 17,906 5,933
_______ _______
Shareholders funds 83,206 6,233
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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 Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 September 2025 , and are signed on behalf of the board by:
Mr S Kinsley
Director
Company registration number: 14700897
Adapt Residential Properties Ltd
Statement of changes in equity
Year ended 31 March 2025
Called up share capital Fair value reserve Profit and loss account Total
£ £ £ £
At 1 April 2023 (as previously reported) - - - -
Effects of changes in accounting policies 300 (-) (-) 300
_______ _______ _______ _______
At 1 April 2023 (restated) 300 - - 300
Profit for the year 8,933 8,933
_______ _______ _______ _______
Total comprehensive income for the year - - 8,933 8,933
Dividends paid and payable ( 3,000) ( 3,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 3,000) ( 3,000)
_______ _______ _______ _______
At 31 March 2024 and 1 April 2024 300 - 5,933 6,233
Profit for the year 76,973 76,973
Other comprehensive income for the year:
Reclassification from fair value reserve to profit and loss account 65,000 ( 65,000) -
_______ _______ _______ _______
Total comprehensive income for the year - 65,000 11,973 76,973
_______ _______ _______ _______
At 31 March 2025 300 65,000 17,906 83,206
_______ _______ _______ _______
Adapt Residential Properties Ltd
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 217 Manchester Road, Hollinwood, Oldham, OL8 4QY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Rental income from operating leases (net of any incentives given to the lesees) is recognised on a straight line basis over the lease term.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Freehold property Total
£ £
Cost or valuation
At 1 April 2024 265,000 265,000
Revaluation 65,000 65,000
_______ _______
At 31 March 2025 330,000 330,000
_______ _______
Depreciation
At 1 April 2024 and 31 March 2025 - -
_______ _______
Carrying amount
At 31 March 2025 330,000 330,000
_______ _______
At 31 March 2024 265,000 265,000
_______ _______
5. Creditors: amounts falling due within one year
2025 2024
£ £
Corporation tax 2,808 2,201
Other creditors 3,423 1,300
_______ _______
6,231 3,501
_______ _______
6. Creditors: amounts falling due after more than one year
2025 2024
£ £
Other creditors 246,000 265,000
_______ _______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr S Kinsley ( 89,500) 7,000 ( 82,500)
Mrs K Farrelly ( 88,100) 5,500 ( 82,600)
Mr J Kinsley ( 88,100) 5,577 ( 82,523)
_______ _______ _______
( 265,700) 18,077 ( 247,623)
_______ _______ _______
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr S Kinsley - ( 89,500) ( 89,500)
Mrs K Farrelly - ( 88,100) ( 88,100)
Mr J Kinsley - ( 88,100) ( 88,100)
_______ _______ _______
- ( 265,700) ( 265,700)
_______ _______ _______