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Registered number: 03079981









APOLLO (WOOD STREET) LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
APOLLO (WOOD STREET) LIMITED
REGISTERED NUMBER: 03079981

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
959,755
817,718

Current assets
  

Debtors: amounts falling due within one year
 7 
1,005,313
986,939

Current asset investments
 8 
553,570
553,570

Cash at bank and in hand
  
36,490
53,847

  
1,595,373
1,594,356

Creditors: amounts falling due within one year
 9 
(817,740)
(656,336)

Net current assets
  
 
 
777,633
 
 
938,020

  

Net assets
  
1,737,388
1,755,738


Capital and reserves
  

Called up share capital 
  
500,100
500,100

Profit and loss account
  
1,237,288
1,255,638

  
1,737,388
1,755,738


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R P Lundy Esq
Director

Date: 5 August 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
APOLLO (WOOD STREET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Apollo (Wood Street) Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its Registered Office is Unit 7 Bourne Court, Southend Road, Woodford Green, Essex, IG8 8HD. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Apollo RPL Limited as at 31 December 2023 and these financial statements may be obtained from Companies House.

 
2.3

Revenue

Revenue is recognised by the company in respect of rents received during the year, exclusive of VAT.
Page 2

 
APOLLO (WOOD STREET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. 

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following annual basis:

Long leasehold property
-
2% straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.5

Debtors

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

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Interest income

Interest income is recognised in the statement of income and retained earnings using the effective interest method.

Page 3

 
APOLLO (WOOD STREET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Directors have applied judgement in the depreciation of leasehold properties. The useful economic life of these assets has been judged at 50 years. Please see Note 6 for further information.

Page 4

 
APOLLO (WOOD STREET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Other operating income



Other income relates to compensation arising from a settlement.


5.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


6.


Tangible fixed assets





Long leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 January 2023
893,911
-
2,172
896,083


Additions
-
175,178
3,797
178,975



At 31 December 2023

893,911
175,178
5,969
1,075,058



Depreciation


At 1 January 2023
76,448
-
1,917
78,365


Charge for the year on owned assets
17,878
18,493
567
36,938



At 31 December 2023

94,326
18,493
2,484
115,303



Net book value



At 31 December 2023
799,585
156,685
3,485
959,755



At 31 December 2022
817,463
-
255
817,718



Page 5

 
APOLLO (WOOD STREET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
-
3,004

Amounts owed by group undertakings
-
80,207

Other debtors
359,368
257,783

Deferred taxation
645,945
645,945

1,005,313
986,939



8.


Current asset investments

2023
2022
£
£

Properties held for sale
553,570
553,570


The property held for sale has been sold post year end and is due to complete by 1 April 2024. The contract for the sale was dated during the prior year and the corporation tax was recognised in this period.


9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
804

Amounts owed to group undertakings
715,332
-

Corporation tax
70,803
653,730

Other creditors
28,853
-

Accruals and deferred income
2,752
1,802

817,740
656,336


Page 6

 
APOLLO (WOOD STREET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.

Directors' Benefits: Advances, credit and guarantees

Directors' advances and credits during the year were as follows:

2023
2021
 £
 £
Amounts brought forward owed to the company

251,947

132,796

Total advances in the period

46,085

115,049

Interest charged

4,875

4,102

Total repayments in the period

(15,964)

-

Amounts carried forward owed to the company

286,943

251,947


Interest has been charged at the H M Revenue and Customs official rate of interest.


11.


Related party transactions

The Company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A, from disclosing transactions with key management and from disclosing other related party transactions as they are with other companies that are wholly owned within the Group.
See Note 10 for details of transactions with directors. 


12.


Controlling party

The Company regards Apollo RPL Limited as its ultimate parent company and Mr R P Lundy to be its ultimate controlling party.


13.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 9 September 2024 by Stuart Moon (Senior Statutory Auditor) on behalf of Barnes Roffe LLP.

 
Page 7