3 false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2021 - FRS102_2021 22,500 22,500 xbrli:pure xbrli:shares iso4217:GBP 06671450 2022-02-01 2023-01-31 06671450 2023-01-31 06671450 2022-01-31 06671450 2021-02-01 2022-01-31 06671450 2022-01-31 06671450 2021-01-31 06671450 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-01 2023-01-31 06671450 core:LandBuildings core:LongLeaseholdAssets 2022-02-01 2023-01-31 06671450 core:FurnitureFittings 2022-02-01 2023-01-31 06671450 bus:Director1 2022-02-01 2023-01-31 06671450 bus:Director2 2022-02-01 2023-01-31 06671450 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 06671450 core:LandBuildings 2022-01-31 06671450 core:FurnitureFittings 2022-01-31 06671450 core:LandBuildings 2023-01-31 06671450 core:FurnitureFittings 2023-01-31 06671450 core:WithinOneYear 2023-01-31 06671450 core:WithinOneYear 2022-01-31 06671450 core:AfterOneYear 2022-01-31 06671450 core:ShareCapital 2023-01-31 06671450 core:ShareCapital 2022-01-31 06671450 core:RetainedEarningsAccumulatedLosses 2023-01-31 06671450 core:RetainedEarningsAccumulatedLosses 2022-01-31 06671450 core:LandBuildings 2022-01-31 06671450 core:FurnitureFittings 2022-01-31 06671450 bus:Director1 2022-01-31 06671450 bus:Director1 2023-01-31 06671450 bus:Director2 2022-01-31 06671450 bus:Director2 2023-01-31 06671450 bus:Director1 2021-01-31 06671450 bus:Director1 2022-01-31 06671450 bus:Director2 2021-01-31 06671450 bus:Director2 2022-01-31 06671450 bus:Director1 2021-02-01 2022-01-31 06671450 bus:Director2 2021-02-01 2022-01-31 06671450 bus:SmallEntities 2022-02-01 2023-01-31 06671450 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06671450 bus:FullAccounts 2022-02-01 2023-01-31 06671450 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 06671450 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31
COMPANY REGISTRATION NUMBER: 06671450
Apex - OM Limited
Filleted Unaudited Financial Statements
31 January 2023
Apex - OM Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
2,711
3,800
Current assets
Debtors
7
4,180
15,066
Cash at bank and in hand
3,330
2,008
-------
--------
7,510
17,074
Creditors: amounts falling due within one year
8
10,166
14,367
--------
--------
Net current (liabilities)/assets
( 2,656)
2,707
-------
-------
Total assets less current liabilities
55
6,507
Creditors: amounts falling due after more than one year
9
6,468
----
-------
Net assets
55
39
----
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
53
37
----
----
Shareholders funds
55
39
----
----
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 income and retained earnings has not been delivered.
For the year ending 31 January 2023 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 .
Apex - OM Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 25 October 2023 , and are signed on behalf of the board by:
Mr J Shah
Director
Company registration number: 06671450
Apex - OM Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Busby Road, Leicester, LE5 0DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
The turnover shown in the profit and loss account represents commission due during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise agreement
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Leasehold property
-
20% straight line
Fixtures & fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Intangible assets
Development costs
£
Cost
At 1 February 2022 and 31 January 2023
22,500
--------
Amortisation
At 1 February 2022 and 31 January 2023
22,500
--------
Carrying amount
At 31 January 2023
--------
At 31 January 2022
--------
6. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 February 2022 and 31 January 2023
8,000
7,812
4,225
20,037
-------
-------
-------
--------
Depreciation
At 1 February 2022
7,999
6,532
1,706
16,237
Charge for the year
379
710
1,089
-------
-------
-------
--------
At 31 January 2023
7,999
6,911
2,416
17,326
-------
-------
-------
--------
Carrying amount
At 31 January 2023
1
901
1,809
2,711
-------
-------
-------
--------
At 31 January 2022
1
1,280
2,519
3,800
-------
-------
-------
--------
7. Debtors
2023
2022
£
£
Trade debtors
3,104
6,189
Other debtors
1,076
8,877
-------
--------
4,180
15,066
-------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
148
2,059
Corporation tax
1,623
5,601
Social security and other taxes
2,263
2,691
Other creditors
6,132
4,016
--------
--------
10,166
14,367
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
6,468
----
-------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr J Shah
3,953
6,466
( 11,014)
( 595)
Mrs K Shah
3,953
6,466
( 11,013)
( 594)
-------
--------
--------
-------
7,906
12,932
( 22,027)
( 1,189)
-------
--------
--------
-------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr J Shah
2,828
9,031
( 7,906)
3,953
Mrs K Shah
2,829
9,031
( 7,907)
3,953
-------
--------
--------
-------
5,657
18,062
( 15,813)
7,906
-------
--------
--------
-------
11. Related party transactions
The company occupies premises owned by the directors and is occupied rent free.