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Registered number: 13733245
APL (NW) Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of APL (NW) Ltd for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of APL (NW) Ltd for the year ended 30 November 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of APL (NW) Ltd , as a body, in accordance with the terms of our engagement letter dated 13 October 2022. Our work has been undertaken solely to prepare for your approval the accounts of APL (NW) Ltd and state those matters that we have agreed to state to the director of APL (NW) Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than APL (NW) Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that APL (NW) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of APL (NW) Ltd . You consider that APL (NW) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of APL (NW) Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
ERC Accountants and Business Advisers Ltd
30 August 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 1
Page 2
Balance Sheet
Registered number: 13733245
30 November 2023 30 November 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 71,769 16,013
71,769 16,013
CURRENT ASSETS
Debtors 5 310,265 494,880
Cash at bank and in hand 321,452 45,663
631,717 540,543
Creditors: Amounts Falling Due Within One Year 6 (525,723 ) (421,255 )
NET CURRENT ASSETS (LIABILITIES) 105,994 119,288
TOTAL ASSETS LESS CURRENT LIABILITIES 177,763 135,301
NET ASSETS 177,763 135,301
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 177,762 135,300
SHAREHOLDERS' FUNDS 177,763 135,301
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S C Linderman
Director
30 August 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
APL (NW) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13733245 . The registered office is Hanover Building, 11-13 Hanover Buildings, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery 25% Reducing Balance
Motor vehicles 15% Reducing Balance
Computer equipment 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 3)
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4. Tangible Assets
Plant and machinery Motor vehicles Computer equipment Total
£ £ £ £
Cost
As at 1 December 2022 - 16,992 2,094 19,086
Additions 3,197 64,844 1,065 69,106
As at 30 November 2023 3,197 81,836 3,159 88,192
Depreciation
As at 1 December 2022 - 2,549 524 3,073
Provided during the period 799 11,893 658 13,350
As at 30 November 2023 799 14,442 1,182 16,423
Net Book Value
As at 30 November 2023 2,398 67,394 1,977 71,769
As at 1 December 2022 - 14,443 1,570 16,013
5. Debtors
30 November 2023 30 November 2022
£ £
Due within one year
Trade debtors 237,796 332,812
Prepayments and accrued income 3,000 -
Other debtors 9,450 -
Deferred tax current asset 3,043 3,043
VAT - 21,215
Other taxes and social security 56,976 38,180
Director's loan account - 99,630
310,265 494,880
6. Creditors: Amounts Falling Due Within One Year
30 November 2023 30 November 2022
£ £
Trade creditors 313,694 348,577
Bank loans and overdrafts 32,506 -
Corporation tax 161,958 71,078
VAT 14,822 -
Other creditors 109 -
Accruals and deferred income 1,685 1,600
Director's loan account 949 -
525,723 421,255
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7. Share Capital
30 November 2023 30 November 2022
£ £
Allotted, Called up and fully paid 1 1
8. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
9. Dividends
30 November 2023 30 November 2022
£ £
On equity shares:
Final dividend paid 220,000 192,500
220,000 192,500
10. Related Party Transactions
The following related party transactions were undertaken during the year:
A director introduced amounts totalling £74,769 and withdrew amounts totalling £194,186 (2022: introduced amounts totalling £209,840 and withdrew amounts totalling £309,470). As the balance sheet date the amounts due to the director was £954 (2022: from the director £99,630).
Dividends totalling £220,000 (2022: £192,500) were paid to the directors in respect of their shareholdings.
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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