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Registration number: 12469602

Appmechanix Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Appmechanix Ltd

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Profit and Loss Account and Statement of Retained Earnings

4

Balance Sheet

5

Notes to the Unaudited Financial Statements

6 to 8

iXBRL Detailed Profit and Loss Account

9

 

Appmechanix Ltd

Company Information

Director

Mr Dmytro Duzhuk

Registered office

20-22 Wenlock Road
London
N1 7GU

 

Appmechanix Ltd

Director's Report for the Year Ended 28 February 2023

The director presents his report and the financial statements for the year ended 28 February 2023.

Director of the company

The director who held office during the year was as follows:

Mr Dmytro Duzhuk

Principal activity

The principal activity of the company is development of software applications

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 23 December 2023
 

.........................................
Mr Dmytro Duzhuk
Director

 

Appmechanix Ltd

Profit and Loss Account for the Year Ended 28 February 2023

Note

2023
$

2022
$

Turnover

 

148,528

441,998

Cost of sales

 

(2,885)

-

Gross profit

 

145,643

441,998

Administrative expenses

 

(138,672)

(436,908)

Operating profit

 

6,971

5,090

Profit before tax

6,971

5,090

Tax on profit

 

(1,003)

(967)

Profit for the financial year

 

5,968

4,123

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Appmechanix Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 28 February 2023

Note

2023
$

2022
$

Turnover

 

148,528

441,998

Cost of sales

 

(2,885)

-

Gross profit

 

145,643

441,998

Administrative expenses

 

(138,672)

(436,908)

Operating profit

 

6,971

5,090

Profit before tax

6,971

5,090

Taxation

 

(1,003)

(967)

Profit for the financial year

 

5,968

4,123

Retained earnings brought forward

 

4,263

140

Retained earnings carried forward

 

10,231

4,263

 

Appmechanix Ltd

(Registration number: 12469602)
Balance Sheet as at 28 February 2023

Note

2023
$

2022
$

Current assets

 

Debtors

4

1,306

1,994

Cash at bank and in hand

 

10,134

3,269

 

11,440

5,263

Creditors: Amounts falling due within one year

5

(1,209)

(999)

Net assets

 

10,231

4,264

Capital and reserves

 

Called up share capital

6

-

1

Retained earnings

10,231

4,263

Shareholders' funds

 

10,231

4,264

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 23 December 2023
 

.........................................
Mr Dmytro Duzhuk
Director

 

Appmechanix Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
20-22 Wenlock Road
London
N1 7GU
United Kingdom

These financial statements were authorised for issue by the director on 23 December 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

The Company's functional and presentational currency is the United States Dollar.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Appmechanix Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

Current

2023
$

2022
$

Other debtors

1,306

1,994

 

1,306

1,994

 

Appmechanix Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Creditors

Creditors: amounts falling due within one year

2023
$

2022
$

Due within one year

Trade creditors

206

-

Taxation and social security

1,003

999

1,209

999

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

$

No.

$

Ordinary shares of £1 each

1

1

1

1

         

7

Related party transactions

Summary of transactions with key management

Loans to related parties

2023

Key management
$

Total
$

At start of period

922

922

Repaid

(922)

(922)

At end of period

-

-

2022

Key management
$

Total
$

At start of period

155

155

Advanced

767

767

At end of period

922

922

 

Appmechanix Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 28 February 2023

2023
$

2022
$

Turnover/revenue

148,528

441,998

Cost of sales

Opening stock/inventories

-

-

Purchase of raw materials and consumables

(2,885)

-

Closing stock/inventories

-

-

Gross profit

145,643

441,998

Distribution costs

Administrative expenses

Audit and accountancy other services

(1,430)

(2,094)

Advertising, promotions and marketing costs

(137,435)

(423,360)

Rent, rates and services costs

-

(398)

Bank charges

(477)

-

IT and computing

-

(10,983)

Subscriptions

(123)

-

Other foreign exchange gain/(loss)

793

(73)

Other operating income

Other items

Profit on ordinary activities before taxation

6,971

5,090

Tax on profit or loss on ordinary activities

(1,003)

(967)

Profit for the financial year

5,968

4,123