Company Registration No. 10026747 (England and Wales)
APT SECURITY SHUTTERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
APT SECURITY SHUTTERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
APT SECURITY SHUTTERS LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
3
4,200
8,400
Tangible assets
4
147,784
125,191
151,984
133,591
Current assets
Stocks
5
220,868
235,435
Debtors
6
708,063
578,427
Cash at bank and in hand
97,703
82,809
1,026,634
896,671
Creditors: amounts falling due within one year
7
(1,058,173)
(910,539)
Net current liabilities
(31,539)
(13,868)
Total assets less current liabilities
120,445
119,723
Creditors: amounts falling due after more than one year
8
(102,390)
(102,831)
Net assets
18,055
16,892
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
17,955
16,792
Total equity
18,055
16,892

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

APT SECURITY SHUTTERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
2024
2023
Notes
£
£
£
£
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 April 2024 and are signed on its behalf by:
Mr G Greasby
Mr N Tonge
Director
Director
Company Registration No. 10026747
APT SECURITY SHUTTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

APT Security Shutters Limited is a private company limited by shares incorporated in England and Wales. The registered office is Alston House, Alston Street, Unit 1 Woolfold Industrial Estate, Bury, BL8 1SF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

APT SECURITY SHUTTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% Reducing Balance Method
Computers
25% Reducing Balance Method
Motor vehicles
25% Reducing Balance Method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

APT SECURITY SHUTTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
25
23
3
Intangible fixed assets
Goodwill
£
Cost
At 1 March 2023 and 29 February 2024
21,000
Amortisation and impairment
At 1 March 2023
12,600
Amortisation charged for the year
4,200
At 29 February 2024
16,800
Carrying amount
At 29 February 2024
4,200
At 28 February 2023
8,400
APT SECURITY SHUTTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 6 -
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 March 2023
3,611
2,600
167,897
174,108
Additions
-
0
-
0
61,848
61,848
At 29 February 2024
3,611
2,600
229,745
235,956
Depreciation and impairment
At 1 March 2023
2,293
1,622
45,002
48,917
Depreciation charged in the year
264
196
38,795
39,255
At 29 February 2024
2,557
1,818
83,797
88,172
Carrying amount
At 29 February 2024
1,054
782
145,948
147,784
At 28 February 2023
1,318
978
122,895
125,191
5
Stocks
2024
2023
£
£
Raw materials and consumables
220,868
235,435
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
672,942
572,975
Other debtors
7,419
5,452
Prepayments and accrued income
27,702
-
0
708,063
578,427
APT SECURITY SHUTTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
10,000
10,000
Obligations under finance leases
47,158
39,090
Trade creditors
868,799
750,260
Corporation tax
63,904
51,296
Other taxation and social security
66,431
47,077
Other creditors
306
4,316
Accruals and deferred income
1,575
8,500
1,058,173
910,539

 

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,500
22,500
Obligations under finance leases
89,890
80,331
102,390
102,831
11
Share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each of £1 each
100
100
2024-02-292023-03-01false03 April 2024CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMr G GreasbyMr N Tonge100267472023-03-012024-02-29100267472024-02-2910026747core:Goodwill2024-02-2910026747core:Goodwill2023-02-28100267472023-02-2810026747core:PlantMachinery2024-02-2910026747core:ComputerEquipment2024-02-2910026747core:MotorVehicles2024-02-2910026747core:PlantMachinery2023-02-2810026747core:ComputerEquipment2023-02-2810026747core:MotorVehicles2023-02-2810026747core:CurrentFinancialInstrumentscore:WithinOneYear2024-02-2910026747core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2810026747core:Non-currentFinancialInstrumentscore:AfterOneYear2024-02-2910026747core:Non-currentFinancialInstrumentscore:AfterOneYear2023-02-2810026747core:CurrentFinancialInstruments2024-02-2910026747core:CurrentFinancialInstruments2023-02-2810026747core:Non-currentFinancialInstruments2024-02-2910026747core:Non-currentFinancialInstruments2023-02-2810026747core:ShareCapital2024-02-2910026747core:ShareCapital2023-02-2810026747core:RetainedEarningsAccumulatedLosses2024-02-2910026747core:RetainedEarningsAccumulatedLosses2023-02-2810026747bus:Director12023-03-012024-02-2910026747bus:Director22023-03-012024-02-2910026747core:Goodwill2023-03-012024-02-2910026747core:PlantMachinery2023-03-012024-02-2910026747core:ComputerEquipment2023-03-012024-02-2910026747core:MotorVehicles2023-03-012024-02-29100267472022-03-012023-02-2810026747core:Goodwill2023-02-2810026747core:PlantMachinery2023-02-2810026747core:ComputerEquipment2023-02-2810026747core:MotorVehicles2023-02-28100267472023-02-2810026747bus:PrivateLimitedCompanyLtd2023-03-012024-02-2910026747bus:SmallCompaniesRegimeForAccounts2023-03-012024-02-2910026747bus:FRS1022023-03-012024-02-2910026747bus:AuditExemptWithAccountantsReport2023-03-012024-02-2910026747bus:FullAccounts2023-03-012024-02-29xbrli:purexbrli:sharesiso4217:GBP