Adaptocare Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: SC197202 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2024 TO 31 MARCH 2025

FOR

ADAPTOCARE LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T McKee

SECRETARY:

C McKee

REGISTERED OFFICE:

69/71 Hamilton Road

Motherwell

ML1 3DG

BUSINESS ADDRESS:

244 Nuneaton Street

Dalmarnock

Glasgow

G40 3DX

REGISTERED NUMBER:

SC197202 (Scotland)

ACCOUNTANTS:

McDaid & Partners

Stanley House

69/71 Hamilton Road

Motherwell

Lanarkshire

ML1 3DG

FIXED ASSETS

Tangible assets

4

344,044

248,305

Investment property

5

-

666,999

344,044

915,304

CURRENT ASSETS

Stocks

6

136,550

206,913

Debtors

7

1,169,979

433,486

Cash at bank and in hand

647,902

594,624

1,954,431

1,235,023

CREDITORS

Amounts falling due within one year

8

237,876

142,349

NET CURRENT ASSETS

1,716,555

1,092,674

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,060,599

2,007,978

PROVISIONS FOR LIABILITIES

59,954

30,721

NET ASSETS

2,000,645

1,977,257

CAPITAL AND RESERVES

Called up share capital

25,002

Revaluation reserve

10

236,361

126,361

Fair value reserve

10

-

113,816

Retained earnings

1,739,282

1,712,078

SHAREHOLDERS' FUNDS

2,000,645

1,977,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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.

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 director and authorised for issue on 13 November 2025 and were signed by:

T McKee - Director

1.	STATUTORY INFORMATION

Adaptocare Ltd. is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Property improvements

-

15% on reducing balance

Plant & machinery

-

15% on reducing balance

Fixtures & fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Trade debtors

Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash

Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Taxation

Taxation for the period 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.

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 period 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.

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 period was 16 (2024 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Property

Plant &

property

improvements

machinery

£

COST OR VALUATION

At 1 June 2024

180,000

78,546

183,042

Revaluations

110,000

-

At 31 March 2025

290,000

78,546

183,042

DEPRECIATION

At 1 June 2024

-

76,623

170,046

Charge for period

-

241

1,625

At 31 March 2025

-

76,864

171,671

NET BOOK VALUE

At 31 March 2025

290,000

1,682

11,371

At 31 May 2024

180,000

1,923

12,996

Fixtures

Motor

Computer

& fittings

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 June 2024

87,304

131,774

38,277

698,943

Revaluations

-

110,000

At 31 March 2025

87,304

131,774

38,277

808,943

DEPRECIATION

At 1 June 2024

87,199

85,493

31,277

450,638

Charge for period

52

9,642

2,701

14,261

At 31 March 2025

87,251

95,135

33,978

464,899

NET BOOK VALUE

At 31 March 2025

53

36,639

4,299

344,044

At 31 May 2024

105

46,281

7,000

248,305

Cost or valuation at 31 March 2025 is represented by:

Freehold

Property

Plant &

property

improvements

machinery

£

Valuation in 2018

126,361

-

Valuation in 2024

110,000

-

Cost

53,639

78,546

183,042

290,000

78,546

183,042

Fixtures

Motor

Computer

& fittings

vehicles

equipment

Totals

£

Valuation in 2018

-

126,361

Valuation in 2024

-

110,000

Cost

87,304

131,774

38,277

572,582

87,304

131,774

38,277

808,943

The property was valued on an open market basis on 9 October 2024 by DM Hall .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

666,999

Disposals

(666,999

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 May 2024

666,999

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

21,840

Valuation in 2017

13,000

Valuation in 2018

15,416

Valuation in 2019

24,000

Valuation in 2022

39,560

Valuation in 2025

(113,816

)

6.

STOCKS

31.3.25

31.5.24

£

Stocks

136,550

206,913

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.5.24

£

Trade debtors

240,216

226,523

Other debtors

929,763

206,963

1,169,979

433,486

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.5.24

£

Trade creditors

104,220

16,589

Taxation and social security

120,666

113,586

Other creditors

12,990

12,174

237,876

142,349

9.	LEASING AGREEMENTS

The total amount of lease commitments is £13,188 (2024: £18,293).

10.

RESERVES

Fair

Revaluation

value

reserve

Totals

£

At 1 June 2024

126,361

113,816

240,177

Freehold property revalued

110,000

-

110,000

Investment property revalued

-

(113,816

)

(113,816

)

At 31 March 2025

236,361

-

236,361

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 March 2025 and the year ended 31 May 2024:

31.3.25

31.5.24

£

T McKee

Balance outstanding at start of period

(128,002

)

(112,532

)

Amounts advanced

51,099

(15,470

)

Amounts repaid

(104,680

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(181,583

)

(128,002

)

Director's loans are interest free and repayable on demand.

12.	RELATED PARTY DISCLOSURES

McKee Family Property Limited is a related party by virtue of T McKee being related to a director. Included within other debtors is a balance due from the company of £658,000 (2024 £NIL).