Silverfin false 31/03/2023 01/04/2022 31/03/2023 A N Hocking 02/03/2011 R Hocking 01/06/2011 08 November 2023 The principal activity of the company continued to be that of property rental. 07547968 2023-03-31 07547968 bus:Director1 2023-03-31 07547968 bus:Director2 2023-03-31 07547968 2022-03-31 07547968 core:CurrentFinancialInstruments 2023-03-31 07547968 core:CurrentFinancialInstruments 2022-03-31 07547968 core:Non-currentFinancialInstruments 2023-03-31 07547968 core:Non-currentFinancialInstruments 2022-03-31 07547968 core:ShareCapital 2023-03-31 07547968 core:ShareCapital 2022-03-31 07547968 core:RetainedEarningsAccumulatedLosses 2023-03-31 07547968 core:RetainedEarningsAccumulatedLosses 2022-03-31 07547968 core:CurrentFinancialInstruments 1 2023-03-31 07547968 core:CurrentFinancialInstruments 1 2022-03-31 07547968 bus:OrdinaryShareClass1 2023-03-31 07547968 2022-04-01 2023-03-31 07547968 bus:FullAccounts 2022-04-01 2023-03-31 07547968 bus:SmallEntities 2022-04-01 2023-03-31 07547968 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07547968 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07547968 bus:Director1 2022-04-01 2023-03-31 07547968 bus:Director2 2022-04-01 2023-03-31 07547968 2021-04-01 2022-03-31 07547968 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07547968 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07547968 (England and Wales)

A P PATENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

A P PATENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

A P PATENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
A P PATENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 154,632 154,632
154,632 154,632
Current assets
Debtors
- due within one year 4 40 2
- due after more than one year 4 16,500 16,500
16,540 16,502
Creditors: amounts falling due within one year 5 ( 187,928) ( 180,868)
Net current liabilities (171,388) (164,366)
Total assets less current liabilities (16,756) (9,734)
Net liabilities ( 16,756) ( 9,734)
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account ( 16,758 ) ( 9,736 )
Total shareholder's deficit ( 16,756) ( 9,734)

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of A P Patents Limited (registered number: 07547968) were approved and authorised for issue by the Director on 08 November 2023. They were signed on its behalf by:

A N Hocking
Director
A P PATENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
A P PATENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
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

A P Patents 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 County House, Bayshill Road, Cheltenham, GL50 3BA, United Kingdom.

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 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 Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £16,756. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 April 2022 154,632
As at 31 March 2023 154,632

4. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Prepayments 38 0
Other debtors 2 2
40 2
Debtors: amounts falling due after more than one year
Other debtors 16,500 16,500

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to connected companies 3,000 2,500
Amounts owed to directors 129,800 131,181
Accruals 55,128 47,187
187,928 180,868

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

7. Related party transactions

At the balance sheet date, included within creditors is a loan outstanding of £129,800 (2022: £131,181) to a company director and shareholder. Interest has been accrued at 10% per annum and there is no fixed date for repayment of the loan.