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Apex Grange Ltd

Financial Statements for the Year Ended 31 May 2023






Apex Grange Ltd (Registered number: 02818974)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Apex Grange Ltd

Company Information
for the year ended 31 May 2023







DIRECTORS: Mr J Bass
Mr G Bass
Mr L Hough
Mr A Bass





SECRETARY: Mr G Bass





REGISTERED OFFICE: 14 Little Mundells
Mundells Industrial Estate
Welwyn Garden City
Hertfordshire
AL7 1EW





REGISTERED NUMBER: 02818974 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Apex Grange Ltd (Registered number: 02818974)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 259,815 227,446

CURRENT ASSETS
Stocks 1,052,586 1,055,981
Debtors 5 2,086,771 1,882,155
Cash at bank 466,386 400,583
3,605,743 3,338,719
CREDITORS
Amounts falling due within one year 6 3,455,569 3,181,841
NET CURRENT ASSETS 150,174 156,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,989

384,324

CREDITORS
Amounts falling due after more than one
year

7

(86,311

)

(67,567

)

PROVISIONS FOR LIABILITIES (6,557 ) (2,758 )
NET ASSETS 317,121 313,999

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 317,017 313,895
SHAREHOLDERS' FUNDS 317,121 313,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Apex Grange Ltd (Registered number: 02818974)

Balance Sheet - continued
31 May 2023


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 Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





Mr J Bass - Director


Apex Grange Ltd (Registered number: 02818974)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Apex Grange Ltd is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

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

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 year was 34 (2022 - 34 ) .

Apex Grange Ltd (Registered number: 02818974)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 June 2022 492,945 98,351 591,296
Additions 96,673 17,679 114,352
Disposals (53,344 ) - (53,344 )
At 31 May 2023 536,274 116,030 652,304
DEPRECIATION
At 1 June 2022 279,176 84,674 363,850
Charge for year 58,701 6,350 65,051
Eliminated on disposal (36,412 ) - (36,412 )
At 31 May 2023 301,465 91,024 392,489
NET BOOK VALUE
At 31 May 2023 234,809 25,006 259,815
At 31 May 2022 213,769 13,677 227,446

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,013,625 1,816,049
Other debtors 7,040 -
Prepayments and accrued income 66,106 66,106
2,086,771 1,882,155

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 66,435 73,053
Trade creditors 2,174,581 2,294,384
Corporation tax 103,116 56,659
PAYE 26,610 28,801
VAT 174,222 138,160
Factoring account 906,339 586,518
Directors' current accounts 39 39
Accrued expenses 4,227 4,227
3,455,569 3,181,841

Apex Grange Ltd (Registered number: 02818974)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 86,311 67,567

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
HSBC Finance Account 906,339 586,517

Amounts owed to HSBC Invoice Finance (UK) Ltd are secured by both a fixed and floating charge against the assets of the company.