Company No: 06377746 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Martin Cummins
	Nicholas Davies
	Liasos Lianos

REGISTERED OFFICE	5th Floor 16 Great Queen Street
	Covent Garden
	London
	WC2B 5DG
	United Kingdom

COMPANY NUMBER

06377746 (England and Wales)

ACCOUNTANT	Azets
	16 Great Queen Street
	Covent Garden
	London
	WC2B 5AH

	Note	2026		2025
		£		£
Current assets
Debtors	5	1,578,100		1,231,887
Cash at bank and in hand	6	( 36,820)		( 3,929)
		1,541,280		1,227,958
Creditors: amounts falling due within one year	7	( 2,204,818)		( 2,591,809)
Net current liabilities		(663,538)		(1,363,851)
Total assets less current liabilities		(663,538)		(1,363,851)
Creditors: amounts falling due after more than one year	8	( 21,262)		( 101,501)
Net liabilities		( 684,800)		( 1,465,352)
Capital and reserves
Called-up share capital		101		101
Profit and loss account		( 684,901 )		( 1,465,453 )
Total shareholders' deficit		( 684,800)		( 1,465,352)

For the financial year ending 30 April 2026 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 financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Quad Adapt Limited (registered number: 06377746) were approved and authorised for issue by the Board of Directors on 14 October 2026. They were signed on its behalf by:

Liasos Lianos Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Quad Adapt Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5th Floor 16 Great Queen Street, Covent Garden, London, WC2B 5DG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of construction services supplied during the year, excluding value added tax. Revenue is recognised when control of the services has transferred to the customer and the company has the right to consideration for the work performed.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 May 2025	17,854		17,854
At 30 April 2026	17,854		17,854
Accumulated depreciation
At 01 May 2025	17,854		17,854
At 30 April 2026	17,854		17,854
Net book value
At 30 April 2026	0		0
At 30 April 2025	0		0

5. Debtors

	2026		2025
	£		£
Trade debtors	0		150,170
Amounts owed by Group undertakings	485,715		278,292
Other debtors	1,092,385		803,425
	1,578,100		1,231,887

6. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	( 36,820)		( 3,929)

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	118,635		100,338
Trade creditors	955,976		1,230,522
Amounts owed to Group undertakings	265,653		136,797
Other creditors	864,554		1,124,152
	2,204,818		2,591,809

Included within bank loans is the current portion of a CBILS totaling £13,333 (2025: £32,000). The term is 6 years, inclusive of a 12 month interest free period which is subsidised by the government in full. It attracts an interest rate of 2.86% above base from the 13th month.

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	21,262		101,501

Included within bank loans is a CBILS of £nil (2025: £16,256). The term is 6 years, inclusive of a 12 month interest free period which is subsidised by the government in full. It attracts an interest rate of 2.86% above base from the 13th month.

9. Related party transactions

As at the year end, the company was owed £361,876 (2025: £164,716) by a connected company, Quad Architects Ltd. The loan is interest free and repayable on demand.

As at the year end, the company was owed £9,050 (2025: £15,843) by a connected company, Drayton Kirk Ltd. The loan is interest free and repayable on demand.

As at the year end, the company was owed £114,789 (2025: £nil) by a connected company, Quad 500 Ltd. The loan is interest free and repayable on demand.

As at the year end, the company owed £40,960 (2025: £40,960) to a connected company, Quad 101 Ltd. The loan is interest free and repayable on demand.

As at the year end, the company owed £80,942 (2025: £95,837) to a connected company, Quad Projects (Notting Hill) Ltd. The loan is interest free and repayable on demand

As at the year end, the company owed £143,751 (2025: £92,440 owed from) to a connected company, Quad 400 Ltd. The loan is interest free and repayable on demand