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REGISTERED NUMBER: 04911624 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

APEX UK SALES LIMITED

APEX UK SALES LIMITED (REGISTERED NUMBER: 04911624)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


APEX UK SALES LIMITED (REGISTERED NUMBER: 04911624)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 46,701 62,375

CURRENT ASSETS
Debtors 6 52,154 39,426
Cash at bank 11,945 12,187
64,099 51,613
CREDITORS
Amounts falling due within one year 7 32,595 23,192
NET CURRENT ASSETS 31,504 28,421
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,205

90,796

CREDITORS
Amounts falling due after more than one year 8 30,756 43,010
NET ASSETS 47,449 47,786

CAPITAL AND RESERVES
Called up share capital 10 101 101
Retained earnings 47,348 47,685
SHAREHOLDERS' FUNDS 47,449 47,786

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Dr R Van Cuijk - Director


APEX UK SALES LIMITED (REGISTERED NUMBER: 04911624)

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

1. STATUTORY INFORMATION

Apex UK Sales Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04911624 and the registered office address is 7 Marconi Gate, Staffordshire Technology Park, Stafford, Staffordshire, ST18 0FZ.

The principal activity during the year was that of of selling agents for printing materials.

The presentation of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to taxation and revenue recognition are its critical accounting policies.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partly completed at the balance sheet date, turnover represents the value of services provided to date based on a proportion of the total expected consideration at completion. Where payments are received in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.


APEX UK SALES LIMITED (REGISTERED NUMBER: 04911624)

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

3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The company has a net asset Balance Sheet position and does not heavily rely on external funding. The parent company continues to fully support Apex UK Sales Ltd.

The company has continued to prepare the accounts on a going concern basis and deem this appropriate. The directors do not consider that a material uncertainty about the going concern status currently exists. In making this assessment they have considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

APEX UK SALES LIMITED (REGISTERED NUMBER: 04911624)

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

5. PROPERTY, PLANT AND EQUIPMENT
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 77,005 3,018 80,023
DEPRECIATION
At 1 January 2023 15,629 2,019 17,648
Charge for year 15,344 330 15,674
At 31 December 2023 30,973 2,349 33,322
NET BOOK VALUE
At 31 December 2023 46,032 669 46,701
At 31 December 2022 61,376 999 62,375

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 77,005
DEPRECIATION
At 1 January 2023 15,629
Charge for year 15,344
At 31 December 2023 30,973
NET BOOK VALUE
At 31 December 2023 46,032
At 31 December 2022 61,376

APEX UK SALES LIMITED (REGISTERED NUMBER: 04911624)

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

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 3,649 4,332
Other debtors 1,000 1,000
Directors' current accounts 12,194 12,171
Tax 15,954 14,452
S455 taxation - 16
VAT 3,411 838
Accruals 9,504 -
Prepayments 3,373 3,547
49,085 36,356

Amounts falling due after more than one year:
S455 taxation 3,069 3,070

Aggregate amounts 52,154 39,426

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 12,253 12,253
Trade creditors 2,225 1,736
Social security and other taxes 8,285 7,005
Amounts owing to parent
company 328 -
Accrued expenses 9,504 2,198
32,595 23,192

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 30,756 43,010

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 43,009 55,263

The Hire Purchase liability is secured by a charge over the assets to which it relates.

APEX UK SALES LIMITED (REGISTERED NUMBER: 04911624)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
101 Ordinary £1 101 101

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adele Lawton (Senior Statutory Auditor)
for and on behalf of Lawton Bradford Accountants Ltd

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr N A Harvey
Balance outstanding at start of year 12,171 12,280
Amounts advanced 356 203
Amounts repaid (333 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,194 12,171

The loan was interest fee and had no fixed date of repayment.
Mr N A Harvey ceased to be a director on 1 November 2023.

13. RELATED PARTY DISCLOSURES

As at the 31 December 2023, £328 was due to and £3,649.28 due from Apex Europe BV, the parent company (2022: £Nil).

14. CONTROLLING PARTY

The controlling party is Apex Europe B.V..

The immediate parent company is Apex Europe B.V. a company registered in the Netherlands. The registered office is Metaalweg 8, 5527 AK Hapert, The Netherlands.The results of Apex UK Sales Limited are included in the group accounts of Apex Beheer B.V., a company registered in The Netherlands and ultimate parent of Apex Europe B.V. The registered office is Metaalweg 8, 5527 AK Hapert, The Netherlands.
The consolidated accounts represent the smallest group for which group accounts are prepared.