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REGISTERED NUMBER: 03163163 (England and Wales)















APEX MACHINING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






APEX MACHINING SERVICES LIMITED (REGISTERED NUMBER: 03163163)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


APEX MACHINING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: A E Casey
M J Casey





SECRETARY: M J Casey





REGISTERED OFFICE: 1 Summerton Road
Oldbury
West Midlands
B69 2EL





REGISTERED NUMBER: 03163163 (England and Wales)





ACCOUNTANTS: Four Oaks Taxation & Accounting Services Limited
Suite D, Astor House
282 Lichfield Road
Four Oaks
Sutton Coldfield
West Midlands
B74 2UG

APEX MACHINING SERVICES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
APEX MACHINING SERVICES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 29 February 2024 set out on pages two to four and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Four Oaks Taxation & Accounting Services Limited
Suite D, Astor House
282 Lichfield Road
Four Oaks
Sutton Coldfield
West Midlands
B74 2UG


30 April 2024

APEX MACHINING SERVICES LIMITED (REGISTERED NUMBER: 03163163)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 668,005 576,360

CURRENT ASSETS
Stocks 22,697 22,876
Debtors 5 448,019 519,720
Cash at bank 32 32
470,748 542,628
CREDITORS
Amounts falling due within one year 6 413,878 432,155
NET CURRENT ASSETS 56,870 110,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

724,875

686,833

CREDITORS
Amounts falling due after more than one
year

7

(167,342

)

(151,670

)

PROVISIONS FOR LIABILITIES (128,641 ) (108,791 )
NET ASSETS 428,892 426,372

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 428,890 426,370
428,892 426,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

APEX MACHINING SERVICES LIMITED (REGISTERED NUMBER: 03163163)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 30 April 2024 and were signed on its behalf by:





A E Casey - Director


APEX MACHINING SERVICES LIMITED (REGISTERED NUMBER: 03163163)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Apex Machining Services Limited 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. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

APEX MACHINING SERVICES LIMITED (REGISTERED NUMBER: 03163163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 1,405,111
Additions 181,096
At 29 February 2024 1,586,207
DEPRECIATION
At 1 March 2023 828,751
Charge for year 89,451
At 29 February 2024 918,202
NET BOOK VALUE
At 29 February 2024 668,005
At 28 February 2023 576,360

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 213,066 285,261
Amounts owed by group undertakings 229,135 229,135
Other debtors 5,818 5,324
448,019 519,720

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 142,188 158,655
Hire purchase contracts 84,812 53,388
Trade creditors 107,204 114,958
Taxation and social security 76,268 102,654
Other creditors 3,406 2,500
413,878 432,155

APEX MACHINING SERVICES LIMITED (REGISTERED NUMBER: 03163163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 38,182 70,909
Hire purchase contracts 129,160 80,761
167,342 151,670

8. ULTIMATE CONTROLLING PARTY

The controlling party is Value Counts Associates Limited.

The ultimate controlling party is A E Casey.