Company Registration No. 02807743 (England and Wales)
Apple Office Equipment Limited
Unaudited accounts
for the year ended 31 March 2024
Apple Office Equipment Limited
Unaudited accounts
Contents
Apple Office Equipment Limited
Company Information
for the year ended 31 March 2024
Company Number
02807743 (England and Wales)
Registered Office
Highland House
Chandlers Ford
Eastleigh
SO53 4AR
United Kingdom
Apple Office Equipment Limited
Statement of financial position
as at 31 March 2024
Tangible assets
66,195
39,049
Cash at bank and in hand
27,854
29,891
Creditors: amounts falling due within one year
(246,499)
(256,572)
Net current liabilities
(47,426)
(1,982)
Total assets less current liabilities
18,769
37,067
Creditors: amounts falling due after more than one year
(58,428)
(87,108)
Provisions for liabilities
Deferred tax
(10,703)
(2,025)
Net liabilities
(50,362)
(52,066)
Called up share capital
100
100
Profit and loss account
(50,462)
(52,166)
Shareholders' funds
(50,362)
(52,066)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 September 2024 and were signed on its behalf by
Mr N D Page
Director
Company Registration No. 02807743
Apple Office Equipment Limited
Notes to the Accounts
for the year ended 31 March 2024
Apple Office Equipment Limited is a private company, limited by shares, registered in England and Wales, registration number 02807743. The registered office is Highland House, Chandlers Ford, Eastleigh, SO53 4AR, United Kingdom. The principal place of business is Unit 16, Test Valley Business Centre, Nursling, Southampton, Hampshire, S016 9JW, England.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with "The Financial Reporting Standards applicable in the
UK and Republic of Ireland" ("FRS102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is
required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historic cost convention, modified to include certain financial
instruments at fair value. The principle accounting policies are set out below.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are
physically dispatched to the customer or 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 partially completed at the balance sheet date turnover represents the value of the
service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers 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 and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
The profit or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.
Land & buildings
Over the length of the lease
Plant & machinery
25% reducing balance
Motor vehicles
25% on cost
Computer equipment
15% reducing balance
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Apple Office Equipment Limited
Notes to the Accounts
for the year ended 31 March 2024
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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 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.
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.
At the balance sheet date the company has net liabilities, and is dependent upon the support of its creditors to continue trading. The director has indicated that this support will continue for a period of at least 12 months from the date of signing these financial statements, and as such the going concern basis has been used.
Apple Office Equipment Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
35,965
6,966
137,255
16,090
196,276
Additions
16,700
2,371
43,300
-
62,371
Disposals
-
-
(13,980)
-
(13,980)
At 31 March 2024
52,665
9,337
166,575
16,090
244,667
At 1 April 2023
28,087
1,167
114,824
13,149
157,227
Charge for the year
6,743
1,814
16,325
441
25,323
On disposals
-
-
(4,078)
-
(4,078)
At 31 March 2024
34,830
2,981
127,071
13,590
178,472
At 31 March 2024
17,835
6,356
39,504
2,500
66,195
At 31 March 2023
7,878
5,799
22,431
2,941
39,049
Finished goods
64,500
74,300
Amounts falling due within one year
Trade debtors
71,813
92,602
Other debtors
34,906
57,797
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
95,000
58,525
Obligations under finance leases and hire purchase contracts
15,992
9,237
Trade creditors
26,301
90,709
Taxes and social security
70,392
57,966
Other creditors
38,814
40,135
The following secured debts are included in creditors above:
Hire Purchase Contracts £15,992 (2023: £9,237)
The hire purchase contracts are secured on the assets to which they relate.
.
Apple Office Equipment Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
27,532
4,979
Taxes and social security
7,563
38,796
The following secured debts are included in creditors above:
Hire Purchase Contracts £27,532 (2023: £4,979)
The hire purchase contracts are secured on the assets to which they relate.
9
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
4,770
9,000
Later than one year and not later than five years
-
4,770
10
Average number of employees
During the year the average number of employees was 8 (2023: 7).