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REGISTERED NUMBER: 09273878 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

APOSTLES CASTINGS TECHNOLOGY LTD

APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


APOSTLES CASTINGS TECHNOLOGY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: A Turner
L M Postle



REGISTERED OFFICE: Winton House
Lyonshall
Kington
Herefordshire
HR5 3JP



REGISTERED NUMBER: 09273878 (England and Wales)



ACCOUNTANTS: Fields Business Advisors Ltd
2nd Floor
Landchard House
Victoria Street
West Bromwich
West Midlands
B70 8ER



BANKERS: Barclays Bank plc
4 High Street
Kington
Herefordshire
HR5 3AX

APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 7,284 10,926
Tangible assets 6 30,323 40,128
37,607 51,054

CURRENT ASSETS
Debtors 7 14,050 8,353
Cash at bank 11,131 763
25,181 9,116
CREDITORS
Amounts falling due within one year 8 23,753 11,932
NET CURRENT ASSETS/(LIABILITIES) 1,428 (2,816 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,035

48,238

CREDITORS
Amounts falling due after more than one
year

9

(29,501

)

(39,532

)

PROVISIONS FOR LIABILITIES (5,762 ) (7,613 )
NET ASSETS 3,772 1,093

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 3,771 1,092
SHAREHOLDERS' FUNDS 3,772 1,093

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

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

APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878)

BALANCE SHEET - continued
31ST MARCH 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 18th December 2023 and were signed on its behalf by:





A Turner - Director


APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878)

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

1. STATUTORY INFORMATION

Apostles Castings Technology 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. 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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

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

The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the nearest £1.

Going concern
The director believes that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern and therefore the going concern basis remains appropriate in the preparation of the financial statements.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities as at the reporting date and the amounts reported for turnover and expenses during the period. The nature of estimating means that actual outcomes could differ from the original estimates.

The principal accounting policies and the judgements and estimates that have the most significant effect on amounts recognised in the financial statements are as stated below.

Revenue recognition
Turnover represents income derived from the company's ordinary activities, excluding value added tax.
Turnover from services is recognised when the service provided to the customer has been completed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
With few exceptions, the company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable and loans from banks and other third parties, including related parties.

Basic financial instruments such as those above are recognised in the financial statements at amortised cost.

Any exception to the above are either immaterial or do not affect more than one accounting period.


APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Cash and cash equivalents
Cash is represented by cash at bank and on hand, and bank overdrafts.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Related parties
For the purposes of these financial statements, a party is considered to be related to the Company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the company or exercise significant influence over the company in making financial and operating policy decisions, or has joint control over the company.
(ii) the company and the party are subject to common control.

APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878)

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 36,420
AMORTISATION
At 1st April 2022 25,494
Amortisation for year 3,642
At 31st March 2023 29,136
NET BOOK VALUE
At 31st March 2023 7,284
At 31st March 2022 10,926

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2022 3,017 1,803 48,445 6,147 59,412
Additions - - - 892 892
At 31st March 2023 3,017 1,803 48,445 7,039 60,304
DEPRECIATION
At 1st April 2022 1,362 524 12,111 5,287 19,284
Charge for year 248 207 9,084 1,158 10,697
At 31st March 2023 1,610 731 21,195 6,445 29,981
NET BOOK VALUE
At 31st March 2023 1,407 1,072 27,250 594 30,323
At 31st March 2022 1,655 1,279 36,334 860 40,128

APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878)

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

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2022
and 31st March 2023 48,445
DEPRECIATION
At 1st April 2022
and 31st March 2023 12,111
NET BOOK VALUE
At 31st March 2023 36,334
At 31st March 2022 36,334

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,916 2,100
Other debtors 8,134 6,253
14,050 8,353

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,250 3,002
Hire purchase contracts 4,781 4,549
Trade creditors 2,335 165
Taxation and social security 9,211 339
Other creditors 2,176 3,877
23,753 11,932

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 4,500 9,750
Hire purchase contracts 25,001 29,782
29,501 39,532

APOSTLES CASTINGS TECHNOLOGY LTD (REGISTERED NUMBER: 09273878)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 29,782 34,331