NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Apex Venues Limited is a private company, limited by shares, registered in England and Wales. The address of the registered office is given in the company information page of these financial statements. The company's place of business is Marlow International, Parkway, Marlow, Buckinghamshire, SL7 1YL.
The company was incorporated on 27 May 2022. As a result this company's comparative figures represent a period of 7 months and are therefore not directly comparable.
The presentation currency of the financial statements is the Pound Sterling (£).
The significant accounting policies applied in the preparation of these financial statements are set out below.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
At the balance sheet date of 31 December 2023, the company shows a deficiency of total assets over total liabilities of £23,474 (2022: £4,591). Due to the ongoing support of the directors, and expectation regarding future trading performance, the company expects to meet its liabilities as they fall due, the company has prepared its financial statements on a going concern basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated via fundraising venue solutions and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
Defined contribution pension plan
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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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