Company registration number 04094286 (England and Wales)
AP ENTERPRISES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
AP ENTERPRISES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
AP ENTERPRISES LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,857,313
1,731,551
Investments
5
269,652
192,984
2,126,965
1,924,535
Current assets
Stocks
230,249
303,793
Debtors
6
64,825
45,701
Cash at bank and in hand
105,260
83,598
400,334
433,092
Creditors: amounts falling due within one year
7
(374,751)
(327,954)
Net current assets
25,583
105,138
Total assets less current liabilities
2,152,548
2,029,673
Creditors: amounts falling due after more than one year
8
(615,880)
(493,635)
Provisions for liabilities
(62,140)
(36,086)
Net assets
1,474,528
1,499,952
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,474,428
1,499,852
Total equity
1,474,528
1,499,952

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

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

AP ENTERPRISES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2023
31 May 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 13 September 2023 and are signed on its behalf by:
Sir A P McCoy OBE
Lady C McCoy
Director
Director
Company Registration No. 04094286
AP ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

AP Enterprises Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ramsbury House, Charnham Lane, Hungerford, Berkshire, RG17 0EY.

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 a mounts 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
Going concern

The company has made claims under the governments Job Retention Scheme and have been the recipient of other Covid-19 government grants. The Directors has considered the impact of COVID-19 and have concluded that while there continues to be inherent uncertainty, the company’s cashflow forecasts and the continued support of its creditors means the Company’s ability to continue to trade are not likely to be affected. Accordingly the directors through their actions taken deem it sufficient to mitigate the uncertainty and the accounts have therefore been prepared on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of stable rent, personal appearance, sponsorship and consultancy services and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion on a time basis.

1.4
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:

Land and buildings Freehold
2% straight line
Plant and machinery
20% straight line
Fixtures, fittings & equipment
25% straight line
Motor vehicles
20% straight line

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.

AP ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.9
Taxation

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

AP ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 5 -
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.

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.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

AP ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2023
2022
Number
Number
Total
8
7
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2022
1,658,868
450,365
2,109,233
Additions
13,706
209,267
222,973
Disposals
-
0
(5,995)
(5,995)
At 31 May 2023
1,672,574
653,637
2,326,211
Depreciation and impairment
At 1 June 2022
128,244
249,438
377,682
Depreciation charged in the year
24,405
72,806
97,211
Eliminated in respect of disposals
-
0
(5,995)
(5,995)
At 31 May 2023
152,649
316,249
468,898
Carrying amount
At 31 May 2023
1,519,925
337,388
1,857,313
At 31 May 2022
1,530,624
200,927
1,731,551
5
Fixed asset investments
2023
2022
£
£
Investments
269,652
192,984
AP ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
5
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 June 2022
192,984
Additions
76,668
At 31 May 2023
269,652
Carrying amount
At 31 May 2023
269,652
At 31 May 2022
192,984
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
57,131
45,076
Other debtors
7,694
625
64,825
45,701
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
70,174
73,398
Trade creditors
14,904
28,285
Taxation and social security
12,420
7,384
Other creditors
277,253
218,887
374,751
327,954
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
285,861
321,692
Other creditors
330,019
171,943
615,880
493,635

The bank loan is secured on the company's assets.

2023-05-31 2022-06-01 false 13 September 2023 CCH Software CCH Accounts Production 2023.200 No description of principal activity Sir A P McCoy OBE Lady C McCoy 04094286 2022-06-01 2023-05-31 04094286 2023-05-31 04094286 2022-05-31 04094286 core:LandBuildings 2023-05-31 04094286 core:OtherPropertyPlantEquipment 2023-05-31 04094286 core:LandBuildings 2022-05-31 04094286 core:OtherPropertyPlantEquipment 2022-05-31 04094286 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 04094286 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 04094286 core:CurrentFinancialInstruments 2023-05-31 04094286 core:CurrentFinancialInstruments 2022-05-31 04094286 core:Non-currentFinancialInstruments 2023-05-31 04094286 core:Non-currentFinancialInstruments 2022-05-31 04094286 core:ShareCapital 2023-05-31 04094286 core:ShareCapital 2022-05-31 04094286 core:RetainedEarningsAccumulatedLosses 2023-05-31 04094286 core:RetainedEarningsAccumulatedLosses 2022-05-31 04094286 bus:Director1 2022-06-01 2023-05-31 04094286 bus:Director2 2022-06-01 2023-05-31 04094286 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 04094286 core:PlantMachinery 2022-06-01 2023-05-31 04094286 core:FurnitureFittings 2022-06-01 2023-05-31 04094286 core:MotorVehicles 2022-06-01 2023-05-31 04094286 2021-06-01 2022-05-31 04094286 core:LandBuildings 2022-05-31 04094286 core:OtherPropertyPlantEquipment 2022-05-31 04094286 2022-05-31 04094286 core:LandBuildings 2022-06-01 2023-05-31 04094286 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 04094286 core:WithinOneYear 2023-05-31 04094286 core:WithinOneYear 2022-05-31 04094286 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 04094286 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 04094286 bus:FRS102 2022-06-01 2023-05-31 04094286 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 04094286 bus:FullAccounts 2022-06-01 2023-05-31 xbrli:pure xbrli:shares iso4217:GBP