Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31falsefalse2023-02-01false33140 - Repair of electrical equipment23trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06054193 2023-02-01 2024-01-31 06054193 2022-02-01 2023-01-31 06054193 2024-01-31 06054193 2023-01-31 06054193 c:Director1 2023-02-01 2024-01-31 06054193 d:Buildings 2023-02-01 2024-01-31 06054193 d:Buildings 2024-01-31 06054193 d:Buildings 2023-01-31 06054193 d:Buildings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06054193 d:PlantMachinery 2023-02-01 2024-01-31 06054193 d:PlantMachinery 2024-01-31 06054193 d:PlantMachinery 2023-01-31 06054193 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06054193 d:MotorVehicles 2023-02-01 2024-01-31 06054193 d:MotorVehicles 2024-01-31 06054193 d:MotorVehicles 2023-01-31 06054193 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06054193 d:FurnitureFittings 2023-02-01 2024-01-31 06054193 d:FurnitureFittings 2024-01-31 06054193 d:FurnitureFittings 2023-01-31 06054193 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06054193 d:OfficeEquipment 2023-02-01 2024-01-31 06054193 d:OfficeEquipment 2024-01-31 06054193 d:OfficeEquipment 2023-01-31 06054193 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06054193 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06054193 d:CurrentFinancialInstruments 2024-01-31 06054193 d:CurrentFinancialInstruments 2023-01-31 06054193 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 06054193 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06054193 d:ShareCapital 2024-01-31 06054193 d:ShareCapital 2023-01-31 06054193 d:RetainedEarningsAccumulatedLosses 2024-01-31 06054193 d:RetainedEarningsAccumulatedLosses 2023-01-31 06054193 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 06054193 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 06054193 c:FRS102 2023-02-01 2024-01-31 06054193 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 06054193 c:FullAccounts 2023-02-01 2024-01-31 06054193 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06054193 2 2023-02-01 2024-01-31 06054193 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 06054193









APEX PROJECTS (UK) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
APEX PROJECTS (UK) LTD
REGISTERED NUMBER: 06054193

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
222,380
180,453

  
222,380
180,453

Current assets
  

Debtors: amounts falling due within one year
 5 
751,560
326,327

Cash at bank and in hand
 6 
605,587
680,160

  
1,357,147
1,006,487

Creditors: amounts falling due within one year
 7 
(187,656)
(216,289)

Net current assets
  
 
 
1,169,491
 
 
790,198

Total assets less current liabilities
  
1,391,871
970,651

Provisions for liabilities
  

Deferred tax
 8 
(16,916)
(8,716)

  
 
 
(16,916)
 
 
(8,716)

Net assets
  
1,374,955
961,935


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,374,855
961,835

  
1,374,955
961,935

Page 1

 
APEX PROJECTS (UK) LTD
REGISTERED NUMBER: 06054193
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Ian Andrew Baggaley
Director

Date: 29 July 2024

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
APEX PROJECTS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Apex Projects (UK) Ltd is a private company, limited by shares in England and Wales. The registered office is C/O Hillier Hopkins LLP, 249 Silbury Boulevard, Milton Keynes, Bucks, MK9 1NA. 
The company's principal activity is the design and installation of specialist commerical and industrial storage solutions.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
APEX PROJECTS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
APEX PROJECTS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
APEX PROJECTS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Plant and machinery
-
20%
Motor vehicles
-
20%
Fixtures and fittings
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
APEX PROJECTS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 3).

Page 7

 
APEX PROJECTS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles

£
£
£



Cost or valuation


At 1 February 2023
27,340
75,848
180,692


Additions
-
-
115,990


Disposals
-
-
(77,500)



At 31 January 2024

27,340
75,848
219,182



Depreciation


At 1 February 2023
-
55,168
51,638


Charge for the year on owned assets
-
4,136
38,071


Disposals
-
-
(46,500)



At 31 January 2024

-
59,304
43,209



Net book value



At 31 January 2024
27,340
16,544
175,973



At 31 January 2023
27,340
20,680
129,054
Page 8

 
APEX PROJECTS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

           4.Tangible fixed assets (continued)


Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
3,964
2,249
290,093


Additions
-
-
115,990


Disposals
-
-
(77,500)



At 31 January 2024

3,964
2,249
328,583



Depreciation


At 1 February 2023
1,934
900
109,640


Charge for the year on owned assets
406
450
43,063


Disposals
-
-
(46,500)



At 31 January 2024

2,340
1,350
106,203



Net book value



At 31 January 2024
1,624
899
222,380



At 31 January 2023
2,030
1,349
180,453

Page 9

 
APEX PROJECTS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
269,330
138,741

Amounts owed by group undertakings
422,219
-

Other debtors
51,121
181,825

Prepayments and accrued income
8,890
5,761

751,560
326,327



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
605,587
680,160

Less: bank overdrafts
(387)
(1,324)

605,200
678,836



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
387
1,324

Trade creditors
650
111,155

Corporation tax
179,944
97,279

Other taxation and social security
2,925
-

Other creditors
75
(19)

Accruals and deferred income
3,675
6,550

187,656
216,289


Page 10

 
APEX PROJECTS (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Deferred taxation




2024


£






At beginning of year
(8,716)


Charged to profit or loss
(8,200)



At end of year
(16,916)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(16,916)
(8,716)

(16,916)
(8,716)


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to  £933 (2022 - £1,278) . Contributions totalling £74 (2022 - £20) were payable from the fund at the balance sheet date and are included in creditors.

 
Page 11