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REGISTERED NUMBER: 00739794 (England and Wales)















APEX DIAMOND PRODUCTS LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2022






APEX DIAMOND PRODUCTS LIMITED (REGISTERED NUMBER: 00739794)






Contents of the Financial Statements
for the year ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


APEX DIAMOND PRODUCTS LIMITED

Company Information
for the year ended 31 December 2022







Directors: J Cleverley
S Cleverley





Registered office: Unit 10 Bartleet Road
Washford Indl. Estate
Redditch
Worcs.
B98 0DQ





Registered number: 00739794 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
Office 401, 4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

APEX DIAMOND PRODUCTS LIMITED (REGISTERED NUMBER: 00739794)

Statement of Financial Position
31 December 2022

2022 2021
Notes £ £ £ £
Fixed assets
Tangible assets 4 151,653 147,077

Current assets
Stocks 43,363 50,621
Debtors 5 225,838 172,436
Cash at bank and in hand 344,560 231,103
613,761 454,160
Creditors
Amounts falling due within one year 6 169,092 116,698
Net current assets 444,669 337,462
Total assets less current liabilities 596,322 484,539

Provisions for liabilities 20,897 14,345
Net assets 575,425 470,194

Capital and reserves
Called up share capital 7 5,040 5,040
Revaluation reserve 56,259 56,259
Capital redemption reserve 4,960 4,960
Retained earnings 509,166 403,935
Shareholders' funds 575,425 470,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

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 23 November 2023 and were signed on its behalf by:





S Cleverley - Director


APEX DIAMOND PRODUCTS LIMITED (REGISTERED NUMBER: 00739794)

Notes to the Financial Statements
for the year ended 31 December 2022

1. Statutory information

Apex Diamond Products 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.

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
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold buildings -2.5% straight line
Plant & machinery-15% reducing balance
Fixtures & fittings-15% 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

APEX DIAMOND PRODUCTS LIMITED (REGISTERED NUMBER: 00739794)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

2. Accounting policies - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Employees and directors

The average number of employees during the year was 16 (2021 - 19 ) .

4. Tangible fixed assets
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£ £ £ £
Cost
At 1 January 2022 124,225 377,326 32,475 534,026
Additions - 18,165 4,653 22,818
At 31 December 2022 124,225 395,491 37,128 556,844
Depreciation
At 1 January 2022 54,835 308,574 23,540 386,949
Charge for year 3,106 13,095 2,041 18,242
At 31 December 2022 57,941 321,669 25,581 405,191
Net book value
At 31 December 2022 66,284 73,822 11,547 151,653
At 31 December 2021 69,390 68,752 8,935 147,077

5. Debtors: amounts falling due within one year
2022 2021
£ £
Trade debtors 221,385 172,436
VAT 4,453 -
225,838 172,436

6. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 70,565 18,933
Corporation tax 68,110 62,699
Social security and other taxes 20,694 18,215
VAT - 12,058
Other creditors 4,831 -
Accruals and deferred income 4,892 4,793
169,092 116,698

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £ £
5,040 Ordinary £1 5,040 5,040

APEX DIAMOND PRODUCTS LIMITED (REGISTERED NUMBER: 00739794)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

8. Related party disclosures

The company was controlled by its directors throughout the current and previous year. The company has no individual controlling party.