Registered number
12877984
Apex Resourcing Solutions Ltd
Filleted Accounts
30 September 2023
Apex Resourcing Solutions Ltd
Registered number: 12877984
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 100,000 50,000
Tangible assets 4 36,455 38,692
136,455 88,692
Current assets
Debtors 5 276,446 230,509
Cash at bank and in hand 932 12,499
277,378 243,008
Creditors: amounts falling due within one year 6 (325,135) (316,343)
Net current liabilities (47,757) (73,335)
Total assets less current liabilities 88,698 15,357
Creditors: amounts falling due after more than one year 7 (3,855) 96
Net assets 84,843 15,453
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 50,000 -
Profit and loss account 34,743 15,353
Shareholder's funds 84,843 15,453
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Homer
Director
Approved by the board on 18 December 2023
Apex Resourcing Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 50,000
Additions 50,000
At 30 September 2023 100,000
Amortisation
At 30 September 2023 -
Net book value
At 30 September 2023 100,000
At 30 September 2022 50,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2022 32,718 9,036 41,754
Additions - 623 623
At 30 September 2023 32,718 9,659 42,377
Depreciation
At 1 October 2022 - 3,062 3,062
Charge for the year - 2,860 2,860
At 30 September 2023 - 5,922 5,922
Net book value
At 30 September 2023 32,718 3,737 36,455
At 30 September 2022 32,718 5,974 38,692
5 Debtors 2023 2022
£ £
Trade debtors 249,338 226,722
Amounts owed by group undertakings and undertakings in which the company has a participating interest 23,000 -
Other debtors 4,108 3,787
276,446 230,509
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 215,627 188,530
Trade creditors (2,796) -
Taxation and social security costs 105,036 105,394
Other creditors 7,268 22,419
325,135 316,343
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 3,855 (96)
8 Revaluation reserve 2023 2022
£ £
At 1 October 2022 - -
At 30 September 2023 50,000 -
9 Other information
Apex Resourcing Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
27 Old Gloucester Street
WC1N 3AX
United Kingdom
#REF!
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