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REGISTERED NUMBER: 02518748 (England and Wales)


















Apex Insulation Supplies Limited

Unaudited Financial Statements

for the Year Ended 31st December 2023






Apex Insulation Supplies Limited (Registered number: 02518748)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Apex Insulation Supplies Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mr S Grimley
Mr R J Grimley
Mrs L J Grimley
Mr J A Grimley





SECRETARY: Mrs L J Grimley





REGISTERED OFFICE: 12 Bridgford Road
West Bridgford
Nottingham
Nottinghamshire
NG2 6AB





REGISTERED NUMBER: 02518748 (England and Wales)





ACCOUNTANTS: Brooks Mayfield Limited
Chartered Accountants
12 Bridgford Road
West Bridgford
Nottinghamshire
NG2 6AB

Apex Insulation Supplies Limited (Registered number: 02518748)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 114,959 99,723

CURRENT ASSETS
Stocks 266,438 322,653
Debtors 6 519,944 531,681
Cash at bank 1,479,851 1,589,157
2,266,233 2,443,491
CREDITORS
Amounts falling due within one year 7 (422,991 ) (682,119 )
NET CURRENT ASSETS 1,843,242 1,761,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,958,201

1,861,095

PROVISIONS FOR LIABILITIES (6,756 ) (15,918 )
NET ASSETS 1,951,445 1,845,177

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,951,345 1,845,077
SHAREHOLDERS' FUNDS 1,951,445 1,845,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Apex Insulation Supplies Limited (Registered number: 02518748)

Balance Sheet - continued
31st December 2023


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th August 2024 and were signed on its behalf by:





Mr S Grimley - Director


Apex Insulation Supplies Limited (Registered number: 02518748)

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

1. STATUTORY INFORMATION

Apex Insulation Supplies 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 25% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Apex Insulation Supplies Limited (Registered number: 02518748)

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

3. ACCOUNTING POLICIES - continued

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

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1st January 2023 20,746 99,042 201,859 321,647
Additions - - 91,097 91,097
Disposals - - (71,238 ) (71,238 )
At 31st December 2023 20,746 99,042 221,718 341,506
DEPRECIATION
At 1st January 2023 20,746 70,346 130,832 221,924
Charge for year - 4,304 24,874 29,178
Eliminated on disposal - - (24,555 ) (24,555 )
At 31st December 2023 20,746 74,650 131,151 226,547
NET BOOK VALUE
At 31st December 2023 - 24,392 90,567 114,959
At 31st December 2022 - 28,696 71,027 99,723

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 490,644 505,102
Other debtors 29,300 26,579
519,944 531,681

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 139,873 392,912
Taxation and social security 120,497 129,093
Other creditors 162,621 160,114
422,991 682,119

Apex Insulation Supplies Limited (Registered number: 02518748)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100