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COMPANY REGISTRATION NUMBER: 06853544
APS GB Limited
Unaudited Financial Statements
30 November 2023
APS GB Limited
Financial Statements
Year Ended 30 November 2023
Contents
Pages
Officers and professional advisers
1
Director's report
2
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings
4
Statement of financial position
5 to 6
Notes to the financial statements
7 to 11
APS GB Limited
Officers and Professional Advisers
Director
Mr G H Allen
Registered office
Highfield House
Astwith Close
Holmewood
Chesterfield
England
S42 5UR
Accountants
MCABA Limited t/a Mitchells
Chartered Accountants
91-97 Saltergate
Chesterfield
Derbyshire
S40 1LA
Bankers
Santander
Business Banking Centre
Abbey National House
301 St Vincent Street
Glasgow
G2 5NT
APS GB Limited
Director's Report
Year Ended 30 November 2023
The director presents his report and the unaudited financial statements of the company for the year ended 30 November 2023 .
Director
The director who served the company during the year was as follows:
Mr G H Allen
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 30 August 2024 and signed on behalf of the board by:
Mr G H Allen
Director
Registered office:
Highfield House
Astwith Close
Holmewood
Chesterfield
England
S42 5UR
APS GB Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of APS GB Limited
Year Ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of APS GB Limited for the year ended 30 November 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of APS GB Limited in accordance with the terms of our engagement letter dated 9 March 2022. Our work has been undertaken solely to prepare for your approval the financial statements of APS GB Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than APS GB Limited and its director for our work or for this report.
It is your duty to ensure that APS GB Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of APS GB Limited. You consider that APS GB Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of APS GB Limited. 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 statutory financial statements.
MCABA Limited t/a Mitchells Chartered Accountants
91-97 Saltergate Chesterfield Derbyshire S40 1LA
30 August 2024
APS GB Limited
Statement of Income and Retained Earnings
Year Ended 30 November 2023
Period from
Year to
1 Apr 22 to
30 Nov 23
30 Nov 22
Note
£
£
Turnover
4
2,617,238
1,197,227
Cost of sales
843,076
393,255
------------
------------
Gross Profit
1,774,162
803,972
Administrative expenses
1,694,304
804,894
Other operating income
43,028
------------
---------
Operating Profit
79,858
42,106
Interest payable and similar expenses
50,395
8,399
------------
---------
Profit Before Taxation
29,463
33,707
Tax on profit
( 10,659)
--------
--------
Profit for the Financial Year and Total Comprehensive Income
40,122
33,707
--------
--------
Retained Earnings at the Start of the Year
224,130
190,423
---------
---------
Retained Earnings at the End of the Year
264,252
224,130
---------
---------
All the activities of the company are from continuing operations.
APS GB Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
6
715,168
603,751
Current Assets
Stocks
187,350
187,350
Debtors
7
1,970,586
961,528
Cash at bank and in hand
53,814
19,965
------------
------------
2,211,750
1,168,843
Creditors: amounts falling due within one year
8
1,837,843
1,072,036
------------
------------
Net Current Assets
373,907
96,807
------------
---------
Total Assets Less Current Liabilities
1,089,075
700,558
Creditors: amounts falling due after more than one year
9
768,168
419,773
Provisions
Taxation including deferred tax
50,655
50,655
------------
---------
Net Assets
270,252
230,130
------------
---------
APS GB Limited
Statement of Financial Position (continued)
30 November 2023
2023
2022
Note
£
£
£
Capital and Reserves
Called up share capital
11
6,000
6,000
Profit and loss account
264,252
224,130
---------
---------
Shareholders Funds
270,252
230,130
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
Mr G H Allen
Director
Company registration number: 06853544
APS GB Limited
Notes to the Financial Statements
Year Ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Occupation Lane, Hepthorne Lane, North Wingfield, Chesterfield, Derbyshire, S42 5JS. The company's place of business is Occupation Lane, Hepthorne Lane, North Wingfield, Chesterfield, Derbyshire, S42 5JS.
2. Statement of compliance
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'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the year, exclusive of Value Added Tax.
Income tax
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% straight line
Plant and Machinery
-
20% straight line
Motor Vehicles
-
20% straight line
Office Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Turnover
Turnover amounted to £2,302,238 (2022: £1,197,227) for the year.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 27 (2022: 20 ).
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 December 2022
250,223
527,091
102,819
17,296
897,429
Additions
35,436
212,860
3,542
7,948
259,786
Disposals
( 21,491)
( 21,491)
---------
---------
---------
--------
------------
At 30 November 2023
285,659
739,951
84,870
25,244
1,135,724
---------
---------
---------
--------
------------
Depreciation
At 1 December 2022
11,925
197,031
71,218
13,504
293,678
Charge for the year
5,567
123,175
12,174
2,898
143,814
Disposals
( 16,936)
( 16,936)
---------
---------
---------
--------
------------
At 30 November 2023
17,492
320,206
66,456
16,402
420,556
---------
---------
---------
--------
------------
Carrying amount
At 30 November 2023
268,167
419,745
18,414
8,842
715,168
---------
---------
---------
--------
------------
At 30 November 2022
238,298
330,060
31,601
3,792
603,751
---------
---------
---------
--------
------------
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.
7. Debtors
2023
2022
£
£
Trade debtors
789,403
518,965
Amounts owed by group undertakings and undertakings in which the company has a participating interest
866,183
226,563
Other debtors
315,000
216,000
------------
---------
1,970,586
961,528
------------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
131,567
50,000
Trade creditors
268,027
420,892
Amounts owed to group undertakings and undertakings in which the company has a participating interest
521,164
87,400
Social security and other taxes
381,651
252,255
Other creditors
144,501
Other creditors
390,933
261,489
------------
------------
1,837,843
1,072,036
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
284,401
179,167
Other creditors
483,767
240,606
---------
---------
768,168
419,773
---------
---------
10. Secured liabilities
The aggregate amount of secured liabilities, secured on the assets of the company at the year end were £552,158 (2022: £277,390)
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
6,000
6,000
6,000
6,000
-------
-------
-------
-------
12. Related party transactions
During the period, the company sold goods and services to Fleet & Vehicle Contracts Limited amounting to £1,256,813. All sales were undertaken at normal market value. At the year end, Fleet & Vehicle Contracts Limited owed the company £866,182. APS GB Limited and Fleet & Vehicles Contracts Limited are associated by the common director Mr G Allen. Mr G Allen owns all the shares in Fleet & Vehicle Contracts Limited and the majority of the shares in APS GB Limited .