2022-12-012023-11-302023-11-30false06425586Apex Electrical (SW) 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Apex Electrical (SW) Limited

Registered Number
06425586
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

Apex Electrical (SW) Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

Starnes, Nathan Lee John

Company Secretary

Starnes, Nathan Lee John

Registered Address

Unit 6 10 Armoury Road
Lufton Trading Estate
Yeovil
BA22 8RL

Registered Number

06425586 (England and Wales)
Apex Electrical (SW) Limited
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets319,11228,652
19,11228,652
Current assets
Stocks6,58210,000
Debtors66,74431,919
Cash at bank and on hand9,15162,111
82,477104,030
Creditors amounts falling due within one year5(59,395)(93,949)
Net current assets (liabilities)23,08210,081
Total assets less current liabilities42,19438,733
Provisions for liabilities(3,631)(5,444)
Net assets38,56333,289
Capital and reserves
Called up share capital22
Profit and loss account38,56133,287
Shareholders' funds38,56333,289
The financial statements were approved and authorised for issue by the Director on 28 March 2024, and are signed on its behalf by:
Starnes, Nathan Lee John
Director
Registered Company No. 06425586
Apex Electrical (SW) Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles25
Office Equipment25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees
The average number of employees includes the director.

20232022
Average number of employees during the year66
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 December 2271,447
Disposals(11,204)
At 30 November 2360,243
Depreciation and impairment
At 01 December 2242,795
Charge for year6,882
On disposals(8,546)
At 30 November 2341,132
Net book value
At 30 November 2319,112
At 30 November 2228,652
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables65,13029,625
Other debtors500500
Prepayments and accrued income1,1141,794
Total66,74431,919
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables6,91067,142
Taxation and social security25,36125,402
Other creditors26,098111
Accrued liabilities and deferred income1,0261,294
Total59,39593,949
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.