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REGISTERED NUMBER: 06426468 (England and Wales)





APC ACCOUNTANTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






APC ACCOUNTANTS LIMITED (REGISTERED NUMBER: 06426468)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


APC ACCOUNTANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr S Pincott



REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



REGISTERED NUMBER: 06426468 (England and Wales)



ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



BANKERS: Natwest
9 Church Street
Mansfield
Nottinghamshire
NG18 1HP

APC ACCOUNTANTS LIMITED (REGISTERED NUMBER: 06426468)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 52,100 59,171

CURRENT ASSETS
Debtors 6 554,674 503,336
Cash at bank and in hand 67,682 35,035
622,356 538,371
CREDITORS
Amounts falling due within one year 7 523,972 458,720
NET CURRENT ASSETS 98,384 79,651
TOTAL ASSETS LESS CURRENT
LIABILITIES

150,484

138,822

CREDITORS
Amounts falling due after more than one
year

8

(36,417

)

(41,540

)

PROVISIONS FOR LIABILITIES (13,025 ) (14,793 )
NET ASSETS 101,042 82,489

CAPITAL AND RESERVES
Called up share capital 10 10,350 10,350
Retained earnings 90,692 72,139
SHAREHOLDERS' FUNDS 101,042 82,489

APC ACCOUNTANTS LIMITED (REGISTERED NUMBER: 06426468)

BALANCE SHEET - continued
31 MARCH 2023


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

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

The director acknowledges his 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.

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 director and authorised for issue on 23 November 2023 and were signed by:





Mr S Pincott - Director


APC ACCOUNTANTS LIMITED (REGISTERED NUMBER: 06426468)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

APC Accountants Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Amounts recoverable on contracts - This is estimated in line with the stage of completion of the work. Only the recoverable amount is carried forward. If any work is invoiced in advance the value of the work not yet completed is included with payments on account.

Turnover
Turnover represents the value of services net of Value Added Tax provided to clients during the year. Included in these services is audit and accountancy work, tax compliance and advice, other compliance work and business advice. Financial commissions are released to the profit and loss account when the commission becomes due. Income from fee protection cover is released to the profit and loss account on a straight line basis over the period that the enquiry window to which the cover relates is open. In respect of all other services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 33% straight line, 25% straight line and 15% straight line


APC ACCOUNTANTS LIMITED (REGISTERED NUMBER: 06426468)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

APC ACCOUNTANTS LIMITED (REGISTERED NUMBER: 06426468)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments 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.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 33 ) .

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 April 2022 148,794
Additions 10,502
At 31 March 2023 159,296
DEPRECIATION
At 1 April 2022 89,623
Charge for year 17,573
At 31 March 2023 107,196
NET BOOK VALUE
At 31 March 2023 52,100
At 31 March 2022 59,171

APC ACCOUNTANTS LIMITED (REGISTERED NUMBER: 06426468)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 384,824 348,090
Amounts owed by related parties 79,994 59,995
Amounts recoverable on contract 28,162 38,703
Other debtors - 750
Prepayments and accrued income 61,694 55,798
554,674 503,336

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,055 5,019
Payments on account 98,608 81,615
Trade creditors 45,772 56,942
Corporation tax 136,826 96,887
Social security and other taxes 6,009 684
VAT 125,094 116,696
Other creditors 2,115 1,245
Accruals and deferred income 104,493 99,632
523,972 458,720

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,055 5,019
Bank loans - 2-5 years 15,164 15,056
Bank loans over 5 years 15,427 20,661
Accruals and deferred income 771 804
36,417 41,540

APC ACCOUNTANTS LIMITED (REGISTERED NUMBER: 06426468)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 15,427 20,661

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 21,566 21,566
Between one and five years 77,705 86,264
In more than five years - 13,007
99,271 120,837

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000
350 Ordinary A £1 350 350
10,350 10,350

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £79,994 (2022: £59,995) from related parties.

Key Management remuneration during the year amounted to £69,790 (2022: £57,408)