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REGISTERED NUMBER: SC680880 (Scotland)















Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements for the Year Ended 31 December 2023

for

APGK Limited

APGK Limited (Registered number: SC680880)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2023




Page

Group Strategic Report 1

Report of the Directors 2

Report of the Independent Auditors 3

Consolidated Income Statement 6

Consolidated Balance Sheet 7

Company Balance Sheet 8

Consolidated Statement of Changes in Equity 9

Company Statement of Changes in Equity 10

Consolidated Cash Flow Statement 11

Notes to the Consolidated Cash Flow Statement 12

Notes to the Consolidated Financial Statements 13


APGK Limited (Registered number: SC680880)

Group Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report of the company and the group for the year ended 31 December 2023.

REVIEW OF BUSINESS
The directors are happy to report another successful year for the group.

The group has generated £18,129,528 (2022: £15,439,302) of turnover due to excellent products and customer service. The group has generated £2,810,099 (2022: £3,780,262 [£2,188,470 excluding exceptional items]) of profits before tax to give satisfactory results.

At the period end the group had net assets of £4,201,340 (2022: £2,775,465) including distributable profits of £4,115,336 (2022: £2,665,461). The directors therefore believe the group's position to be satisfactory, especially as the group's current assets exceed its current liabilities by £3,893,658 (2022: £2,493,240).

The directors believe that there is a strong foundation to build the business further and improve on the current period's results.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors have assessed the main standard risk facing the group as being increased competition from other national companies. The directors believe that the quality of our products and customer service will help mitigate these risks going forward.

ON BEHALF OF THE BOARD:





Mr Dale Paterson - Director


23 August 2024

APGK Limited (Registered number: SC680880)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of office fit out services and sale of packaging products

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2023 will be £710,985.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Mr Michael Paterson
Mr Daniel Paterson
Mr Dale Paterson

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
Drummond Laurie CA are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





Mr Dale Paterson - Director


23 August 2024

Report of the Independent Auditors to the Members of
APGK Limited

Opinion
We have audited the financial statements of APGK Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
APGK Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities outlined above to detect material misstatements in respect of irregularities, including fraud.

Based on our understanding of the group, we identified that the principal risks of non-compliance with laws and regulations related to fraudulent manipulation of the financial statements, including the risk of override of controls, to reduce profits and tax liabilities. We determined that the most likely method of manipulation would be the posting of inappropriate journal entries. Audit procedures performed by the audit engagement team consisted of a review of large and unusual journal entries, challenging assumptions and judgements made by management in significant accounting estimates, discussions with management related to known or suspected instances of non-compliance with laws and regulations, review of Board minutes where available, and an evaluation of management controls designed to prevent and detect irregularities.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
APGK Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Craig Clinton (Senior Statutory Auditor)
for and on behalf of Drummond Laurie CA
Statutory Auditor
Unit 5
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

23 August 2024

APGK Limited (Registered number: SC680880)

Consolidated Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 18,129,528 15,439,302

Cost of sales (12,087,343 ) (10,939,385 )
GROSS PROFIT 6,042,185 4,499,917

Administrative expenses (3,252,251 ) (2,312,223 )
2,789,934 2,187,694

Other operating income 20,900 14,391
OPERATING PROFIT 4 2,810,834 2,202,085

Exceptional items 5 - 1,591,792
2,810,834 3,793,877

Interest receivable and similar income 5,129 -
2,815,963 3,793,877

Interest payable and similar expenses 6 (5,864 ) (13,615 )
PROFIT BEFORE TAXATION 2,810,099 3,780,262

Tax on profit 7 (649,239 ) (436,214 )
PROFIT FOR THE FINANCIAL YEAR 2,160,860 3,344,048

APGK Limited (Registered number: SC680880)

Consolidated Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 149,440 162,042
Investments 12
Interest in associate 180,000 180,000
329,440 342,042

CURRENT ASSETS
Stocks 13 1,469,317 1,121,294
Debtors 14 4,312,959 3,218,574
Cash at bank 1,905,947 2,450,346
7,688,223 6,790,214
CREDITORS
Amounts falling due within one year 15 (3,794,565 ) (4,296,974 )
NET CURRENT ASSETS 3,893,658 2,493,240
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,223,098

2,835,282

CREDITORS
Amounts falling due after more than one
year

16

-

(30,655

)

PROVISIONS FOR LIABILITIES 19 (21,758 ) (29,162 )
NET ASSETS 4,201,340 2,775,465

CAPITAL AND RESERVES
Called up share capital 20 86,004 110,004
Retained earnings 21 4,115,336 2,665,461
SHAREHOLDERS' FUNDS 4,201,340 2,775,465

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





Mr Dale Paterson - Director


APGK Limited (Registered number: SC680880)

Company Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 290,999 290,005
290,999 290,005

CURRENT ASSETS
Debtors 14 479,650 -
Cash at bank 302,342 238,452
781,992 238,452
CREDITORS
Amounts falling due within one year 15 (2,179 ) (177,420 )
NET CURRENT ASSETS 779,813 61,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,070,812

351,037

CAPITAL AND RESERVES
Called up share capital 20 86,004 110,004
Retained earnings 21 984,808 241,033
SHAREHOLDERS' FUNDS 1,070,812 351,037

Company's profit for the financial year 1,446,213 919,620

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





Mr Dale Paterson - Director


APGK Limited (Registered number: SC680880)

Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 110,004 - 110,004

Changes in equity
Dividends - (678,587 ) (678,587 )
Total comprehensive income - 3,344,048 3,344,048
Balance at 31 December 2022 110,004 2,665,461 2,775,465

Changes in equity
Company redemption of shares (24,000 ) - (24,000 )
Dividends - (710,985 ) (710,985 )
Total comprehensive income - 2,160,860 2,160,860
Balance at 31 December 2023 86,004 4,115,336 4,201,340

APGK Limited (Registered number: SC680880)

Company Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 110,004 - 110,004

Changes in equity
Dividends - (678,587 ) (678,587 )
Total comprehensive income - 919,620 919,620
Balance at 31 December 2022 110,004 241,033 351,037

Changes in equity
Company redemption of shares (24,000 ) - (24,000 )
Dividends - (702,438 ) (702,438 )
Total comprehensive income - 1,446,213 1,446,213
Balance at 31 December 2023 86,004 984,808 1,070,812

APGK Limited (Registered number: SC680880)

Consolidated Cash Flow Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,212,622 4,427,740
Interest paid (5,864 ) (13,615 )
Tax paid (596,684 ) (505,128 )
Net cash from operating activities 610,074 3,908,997

Cash flows from investing activities
Purchase of tangible fixed assets (94,913 ) (130,967 )
Sale of intangible fixed assets 48,656 -
Sale of tangible fixed assets 31,096 20,533
Cash introduced on acquisition - 1,335,217
Negative goodwill on incorporation - (1,591,792 )
Interest received 5,129 -
Net cash from investing activities (10,032 ) (367,009 )

Cash flows from financing activities
Loan repayments in year (169,288 ) (242,083 )
Amount withdrawn by directors (240,168 ) (170,972 )
Share buyback (24,000 ) -
Equity dividends paid (710,985 ) (678,587 )
Net cash from financing activities (1,144,441 ) (1,091,642 )

(Decrease)/increase in cash and cash equivalents (544,399 ) 2,450,346
Cash and cash equivalents at beginning of
year

2

2,450,346

-

Cash and cash equivalents at end of year 2 1,905,947 2,450,346

APGK Limited (Registered number: SC680880)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.12.23 31.12.22
£    £   
Profit before taxation 2,810,099 3,780,262
Depreciation charges 76,569 123,063
Profit on disposal of fixed assets (48,806 ) (4,928 )
Finance costs 5,864 13,615
Finance income (5,129 ) -
2,838,597 3,912,012
Increase in stocks (348,023 ) (220,303 )
Increase in trade and other debtors (1,060,740 ) (707,748 )
(Decrease)/increase in trade and other creditors (217,212 ) 1,443,779
Cash generated from operations 1,212,622 4,427,740

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 1,905,947 2,450,346
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 2,450,346 -


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank 2,450,346 (544,399 ) 1,905,947
2,450,346 (544,399 ) 1,905,947
Debt
Debts falling due within 1 year (331,507 ) 138,633 (192,874 )
Debts falling due after 1 year (30,655 ) 30,655 -
(362,162 ) 169,288 (192,874 )
Total 2,088,184 (375,111 ) 1,713,073

APGK Limited (Registered number: SC680880)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

APGK Limited is a private company, limited by shares, domiciled in Scotland, registration number SC680880. The registered office is Anchorpoint House, Clashburn Close, Kinross KY13 8GD.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services in respect of office fit out services and the sale of packaging products, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill
Negative goodwill generated on formation of the group has been written off in the year generated.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


APGK Limited (Registered number: SC680880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand and highly liquid interest-bearing securities with maturities of three months or less. In the cash-flow statement, cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the balance sheet.

3. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 1,766,083 1,363,973
Social security costs 177,209 64,018
Other pension costs 21,070 8,844
1,964,362 1,436,835

The average number of employees during the year was as follows:
31.12.23 31.12.22

Employees 50 51

The average number of employees by undertakings that were proportionately consolidated during the year was 47 (2022 - 48 ) .

31.12.23 31.12.22
£    £   
Directors' remuneration 35,107 23,361

APGK Limited (Registered number: SC680880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Other operating leases 54,384 46,123
Depreciation - owned assets 76,569 111,931
Profit on disposal of fixed assets (48,806 ) (4,928 )
Goodwill amortisation - (1,591,792 )
Auditors' remuneration 25,000 -
Foreign exchange differences 12,847 8,645

5. EXCEPTIONAL ITEMS

Negative goodwill of £1,591,792 was generated on the creation of the group. The total amount was written off in 2022.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank loan interest - 1,378
Other interest 5,864 12,237
5,864 13,615

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 656,643 413,030

Deferred tax (7,404 ) 23,184
Tax on profit 649,239 436,214

APGK Limited (Registered number: SC680880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
Profit before tax 2,810,099 3,780,262
Profit multiplied by the standard rate of corporation tax in the UK of
23.500 % (2022 - 19 %)

660,373

718,250

Effects of:
Expenses not deductible for tax purposes 1,767 1,566
Income not taxable for tax purposes (11,469 ) (478,008 )
Capital allowances in excess of depreciation (5,462 ) -
Depreciation in excess of capital allowances - 171,222
Deferred tax movement (7,404 ) 23,184
Capital gains 11,434 -
Total tax charge 649,239 436,214

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
31.12.23 31.12.22
£    £   
Ordinary A to K shares of £1 each
Final 710,985 678,587

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 (1,591,792 )
AMORTISATION
At 1 January 2023
and 31 December 2023 (1,591,792 )
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

APGK Limited (Registered number: SC680880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

11. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 47,324 176,666 36,807 260,797
Additions - 94,913 - 94,913
Disposals - (2,634 ) (34,805 ) (37,439 )
At 31 December 2023 47,324 268,945 2,002 318,271
DEPRECIATION
At 1 January 2023 8,337 86,563 3,855 98,755
Charge for year 10,924 62,527 3,118 76,569
Eliminated on disposal - (312 ) (6,181 ) (6,493 )
At 31 December 2023 19,261 148,778 792 168,831
NET BOOK VALUE
At 31 December 2023 28,063 120,167 1,210 149,440
At 31 December 2022 38,987 90,103 32,952 162,042

12. FIXED ASSET INVESTMENTS

Group
Interest
in
associate
£   
COST
At 1 January 2023
and 31 December 2023 180,000
NET BOOK VALUE
At 31 December 2023 180,000
At 31 December 2022 180,000
Company
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 January 2023 110,005 180,000 290,005
Additions 994 - 994
At 31 December 2023 110,999 180,000 290,999
NET BOOK VALUE
At 31 December 2023 110,999 180,000 290,999
At 31 December 2022 110,005 180,000 290,005

APGK Limited (Registered number: SC680880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

12. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Anchorpoint Group Limited
Registered office: Anchorpoint House, Clashburn Close, Kinross, Scotland, KY13 8GD
Nature of business: Interior office design and fit outs
%
Class of shares: holding
Ordinary 100.00

Exporta Global Limited
Registered office: Anchorpoint House, Clashburn Close, Kinross, Scotland, KY13 8GD
Nature of business: Product handling solutions
%
Class of shares: holding
Ordinary 100.00


13. STOCKS

Group
31.12.23 31.12.22
£    £   
Stocks 1,070,406 1,036,706
Work-in-progress 398,911 84,588
1,469,317 1,121,294

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Trade debtors 3,513,651 3,060,140 - -
Amounts owed by group undertakings - - 476,000 -
Amounts owed by related parties 8,600 - 3,600 -
Amounts recoverable on contract 521,151 44,184 - -
Other debtors 106,478 15,000 - -
Directors' current accounts 33,644 - - -
VAT - - 50 -
Prepayments 129,435 99,250 - -
4,312,959 3,218,574 479,650 -

APGK Limited (Registered number: SC680880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.23 31.12.22 31.12.23 31.12.22
£    £    £    £   
Other loans (see note 17) 192,874 331,507 - -
Trade creditors 1,568,946 1,081,382 - -
Amounts owed to group undertakings - - 1,294 35,001
Amounts owed to related parties - 128,677 - 141,177
Tax 362,334 302,375 885 605
Social security and other taxes 117,504 92,783 - -
VAT 592,989 725,049 - 637
Other creditors 34,205 22,274 - -
Directors' current accounts 30,783 237,307 - -
Accruals and deferred income 894,930 1,375,620 - -
3,794,565 4,296,974 2,179 177,420

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
31.12.23 31.12.22
£    £   
Other loans (see note 17) - 30,655

17. LOANS

An analysis of the maturity of loans is given below:

Group
31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Other loans 192,874 331,507
Amounts falling due between one and two years:
Other loans - 1-2 years - 29,117
Amounts falling due between two and five years:
Other loans - 2-5 years - 1,538

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

APGK Limited (Registered number: SC680880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

Group
Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 110,000 110,000
Between one and five years 45,833 155,833
155,833 265,833

19. PROVISIONS FOR LIABILITIES

Group
31.12.23 31.12.22
£    £   
Deferred tax 21,758 29,162

Group
Deferred
tax
£   
Balance at 1 January 2023 29,162
Provided during year (7,404 )
Balance at 31 December 2023 21,758

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
10,004 Ordinary A to K £1 10,004 10,004
76,000 Deferred shares £1 76,000 100,000
86,004 110,004

21. RESERVES

Group
Retained
earnings
£   

At 1 January 2023 2,665,461
Profit for the year 2,160,860
Dividends (710,985 )
At 31 December 2023 4,115,336

APGK Limited (Registered number: SC680880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2023

21. RESERVES - continued

Company
Retained
earnings
£   

At 1 January 2023 241,033
Profit for the year 1,446,213
Dividends (702,438 )
At 31 December 2023 984,808


22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr D Paterson
Balance outstanding at start of year - -
Amounts advanced 33,644 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,644 -

23. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence
31.12.23 31.12.22
£    £   
Amount due from related party 8,600 -
Amount due to related party - 128,677

Other related parties
31.12.23 31.12.22
£    £   
Interest 6,219 13,321
Amount due to other related party 192,874 331,507

24. ULTIMATE CONTROLLING PARTY

The group is under the control of the Board of Directors.