IRIS Accounts Production v24.2.0.383 06760085 Board of Directors 1.1.23 31.12.23 31.12.23 5.9.24 false true false false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067600852022-12-31067600852023-12-31067600852023-01-012023-12-31067600852021-12-31067600852022-01-012022-12-31067600852022-12-3106760085ns15:EnglandWales2023-01-012023-12-3106760085ns14:PoundSterling2023-01-012023-12-3106760085ns10:Director12023-01-012023-12-3106760085ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106760085ns10:SmallEntities2023-01-012023-12-3106760085ns10:Audited2023-01-012023-12-3106760085ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106760085ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106760085ns10:FullAccounts2023-01-012023-12-310676008512023-01-012023-12-3106760085ns10:OrdinaryShareClass12023-01-012023-12-3106760085ns10:Director22023-01-012023-12-3106760085ns10:Director32023-01-012023-12-3106760085ns10:Director42023-01-012023-12-3106760085ns10:CompanySecretary12023-01-012023-12-3106760085ns10:RegisteredOffice2023-01-012023-12-3106760085ns5:CurrentFinancialInstruments2023-12-3106760085ns5:CurrentFinancialInstruments2022-12-3106760085ns5:ShareCapital2023-12-3106760085ns5:ShareCapital2022-12-3106760085ns5:RetainedEarningsAccumulatedLosses2023-12-3106760085ns5:RetainedEarningsAccumulatedLosses2022-12-3106760085ns5:NetGoodwill2023-01-012023-12-3106760085ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106760085ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-012023-12-3106760085ns5:NetGoodwill2022-12-3106760085ns5:IntangibleAssetsOtherThanGoodwill2022-12-3106760085ns5:NetGoodwill2023-12-3106760085ns5:IntangibleAssetsOtherThanGoodwill2023-12-3106760085ns5:NetGoodwill2022-12-3106760085ns5:IntangibleAssetsOtherThanGoodwill2022-12-3106760085ns5:PlantMachinery2022-12-3106760085ns5:FurnitureFittings2022-12-3106760085ns5:ComputerEquipment2022-12-3106760085ns5:PlantMachinery2023-01-012023-12-3106760085ns5:FurnitureFittings2023-01-012023-12-3106760085ns5:ComputerEquipment2023-01-012023-12-3106760085ns5:PlantMachinery2023-12-3106760085ns5:FurnitureFittings2023-12-3106760085ns5:ComputerEquipment2023-12-3106760085ns5:PlantMachinery2022-12-3106760085ns5:FurnitureFittings2022-12-3106760085ns5:ComputerEquipment2022-12-3106760085ns5:CostValuation2022-12-3106760085ns5:AdditionsToInvestments2023-12-3106760085ns5:CostValuation2023-12-3106760085ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106760085ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3106760085ns5:WithinOneYear2023-12-3106760085ns5:WithinOneYear2022-12-3106760085ns5:BetweenOneFiveYears2023-12-3106760085ns5:BetweenOneFiveYears2022-12-3106760085ns5:AllPeriods2023-12-3106760085ns5:AllPeriods2022-12-3106760085ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 06760085 (England and Wales)



















Financial Statements

for the Year Ended 31st December 2023

for

APITS LIMITED

APITS LIMITED (REGISTERED NUMBER: 06760085)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


APITS LIMITED

Company Information
for the year ended 31st December 2023







DIRECTORS: A Palmer
J Moss
P A Lavelle
A Bridge



SECRETARY: P A Lavelle



REGISTERED OFFICE: Suffolk House
George Street
Croydon
Surrey
CR0 0YN



REGISTERED NUMBER: 06760085 (England and Wales)



SENIOR STATUTORY AUDITOR: Alasdair Weaks



AUDITORS: Simpson Wreford & Partners
Chartered Accountants & Statutory Auditors
Suffolk House
George Street
Croydon
Surrey
CR0 0YN

APITS LIMITED (REGISTERED NUMBER: 06760085)

Statement of Financial Position
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 37,184 -
Property, plant and equipment 5 4,380 3,824
Investments 6 646,256 428,575
687,820 432,399

CURRENT ASSETS
Debtors 7 441,300 369,507
Cash at bank 1,026,727 1,231,651
1,468,027 1,601,158
CREDITORS
Amounts falling due within one year 8 1,155,901 908,129
NET CURRENT ASSETS 312,126 693,029
TOTAL ASSETS LESS CURRENT LIABILITIES 999,946 1,125,428

PROVISIONS FOR LIABILITIES 1,095 727
NET ASSETS 998,851 1,124,701

CAPITAL AND RESERVES
Called up share capital 10 477,100 477,100
Retained earnings 521,751 647,601
SHAREHOLDERS' FUNDS 998,851 1,124,701

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th September 2024 and were signed on its behalf by:





J Moss - Director


APITS LIMITED (REGISTERED NUMBER: 06760085)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

APITS 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. The address of its principal place of business is 5a New Road, Croxley Green, Rickmansworth, WD3 3EJ.

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.

Preparation of consolidated financial statements
The financial statements contain information about APITS Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Revenue represents net invoiced sales of services that have been performed at the accounting date.

Exhibition revenue
Exhibition revenue is recognised in the period that the exhibition takes place.

Website revenue
Revenue from a contract to provide listing and advertising services is recognised from the signing of the contract as from this point the following conditions are satisfied:

-the amount of turnover can be measured reliably
-it is probable that the company will receive the consideration due under the contract; and
-the stage of completion of the service at the end of the reporting period can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of four years.

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.

Website development costs are being amortised evenly over their estimated useful life of three years.

APITS LIMITED (REGISTERED NUMBER: 06760085)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts and are recognised in the Statement of Comprehensive Income.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

APITS LIMITED (REGISTERED NUMBER: 06760085)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

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

Debtors
Short term debtors are measured at transaction price, less any impairment.

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

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.

Provisions for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

APITS LIMITED (REGISTERED NUMBER: 06760085)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st January 2023 190,098 - 190,098
Additions - 45,586 45,586
At 31st December 2023 190,098 45,586 235,684
AMORTISATION
At 1st January 2023 190,098 - 190,098
Charge for year - 8,402 8,402
At 31st December 2023 190,098 8,402 198,500
NET BOOK VALUE
At 31st December 2023 - 37,184 37,184
At 31st December 2022 - - -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
Website fittings equipment Totals
£    £    £    £   
COST
At 1st January 2023 25,721 757 33,960 60,438
Additions - - 4,448 4,448
Disposals (25,721 ) - - (25,721 )
At 31st December 2023 - 757 38,408 39,165
DEPRECIATION
At 1st January 2023 25,721 517 30,376 56,614
Charge for year - - 3,892 3,892
Eliminated on disposal (25,721 ) - - (25,721 )
At 31st December 2023 - 517 34,268 34,785
NET BOOK VALUE
At 31st December 2023 - 240 4,140 4,380
At 31st December 2022 - 240 3,584 3,824

APITS LIMITED (REGISTERED NUMBER: 06760085)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023 428,575
Additions 217,681
At 31st December 2023 646,256
NET BOOK VALUE
At 31st December 2023 646,256
At 31st December 2022 428,575

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 147,501 96,184
Amounts owed by group undertakings 24,794 28,459
Other debtors 16,649 45,789
Directors' current accounts - 258
Tax 18,889 -
VAT 25,566 11,618
Prepayments and accrued income 207,901 187,199
441,300 369,507

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 17,366 28,987
Tax 168,163 213,170
Social security and other taxes 28,424 25,709
Other creditors 30,800 937
Accruals and deferred income 911,148 639,326
1,155,901 908,129

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 6,000 6,000
Between one and five years 10,000 16,000
16,000 22,000

APITS LIMITED (REGISTERED NUMBER: 06760085)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
477,100 Ordinary 1 477,100 477,100

11. AUDITOR'S INFORMATION

The audit report provided to the members of APITS Limited on the financial statements for the year ended 31st December 2023 was not qualified.

The audit report was signed by Alasdair Weaks (Senior Statutory Auditor) for and on behalf of Simpson Wreford & Partners, Chartered Accountants and Statutory Auditor.