2 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 20,000 10,800 1,000 11,800 8,200 9,200 91,631 91,631 91,631 xbrli:pure xbrli:shares iso4217:EUR 07489327 2023-01-01 2023-12-31 07489327 2023-12-31 07489327 2022-12-31 07489327 2022-01-01 2022-12-31 07489327 2022-12-31 07489327 core:PlantMachinery 2023-01-01 2023-12-31 07489327 core:FurnitureFittings 2023-01-01 2023-12-31 07489327 core:MotorVehicles 2023-01-01 2023-12-31 07489327 bus:Director1 2023-01-01 2023-12-31 07489327 core:NetGoodwill 2022-12-31 07489327 core:NetGoodwill 2023-12-31 07489327 core:LandBuildings 2022-12-31 07489327 core:PlantMachinery 2022-12-31 07489327 core:FurnitureFittings 2022-12-31 07489327 core:MotorVehicles 2022-12-31 07489327 core:LandBuildings 2023-12-31 07489327 core:PlantMachinery 2023-12-31 07489327 core:FurnitureFittings 2023-12-31 07489327 core:MotorVehicles 2023-12-31 07489327 core:LandBuildings 2023-01-01 2023-12-31 07489327 core:AfterOneYear 2023-12-31 07489327 core:AfterOneYear 2022-12-31 07489327 core:WithinOneYear 2023-12-31 07489327 core:WithinOneYear 2022-12-31 07489327 core:ShareCapital 2023-12-31 07489327 core:ShareCapital 2022-12-31 07489327 core:RetainedEarningsAccumulatedLosses 2023-12-31 07489327 core:RetainedEarningsAccumulatedLosses 2022-12-31 07489327 core:NetGoodwill 2023-01-01 2023-12-31 07489327 core:NetGoodwill 2022-12-31 07489327 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 07489327 core:Non-currentFinancialInstruments 2023-12-31 07489327 core:Non-currentFinancialInstruments 2022-12-31 07489327 core:LandBuildings 2022-12-31 07489327 core:PlantMachinery 2022-12-31 07489327 bus:SmallEntities 2023-01-01 2023-12-31 07489327 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07489327 bus:FullAccounts 2023-01-01 2023-12-31 07489327 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07489327 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07489327 core:OfficeEquipment 2023-01-01 2023-12-31 07489327 core:OfficeEquipment 2022-12-31 07489327 core:OfficeEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 07489327
Apartment 15 Limited
Filleted Unaudited Financial Statements
31 December 2023
Apartment 15 Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
Fixed assets
Intangible assets
5
8,200
9,200
Tangible assets
6
9,383,686
9,434,572
Investments
7
91,631
91,631
------------
------------
9,483,517
9,535,403
Current assets
Stocks
49,285
38,650
Debtors
8
687,968
668,506
Cash at bank and in hand
3,688
2,073
---------
---------
740,941
709,229
Creditors: amounts falling due within one year
9
109,674
106,459
---------
---------
Net current assets
631,267
602,770
-------------
-------------
Total assets less current liabilities
10,114,784
10,138,173
Creditors: amounts falling due after more than one year
10
10,530,924
10,405,924
-------------
-------------
Net liabilities
( 416,140)
( 267,751)
-------------
-------------
Capital and reserves
Called up share capital
3,917,481
3,917,481
Profit and loss account
( 4,333,621)
( 4,185,232)
------------
------------
Shareholders deficit
( 416,140)
( 267,751)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Apartment 15 Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 9 September 2024 , and are signed on behalf of the board by:
Mr. J Hadey
Director
Company registration number: 07489327
Apartment 15 Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Manchester square, 18 Fitzhardinge Street, London, W1H 6EQ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in Euro, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into euro at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. In accordance with SSAP 20 the Euro currency has been adopted as the local currency and consequently these accounts are presented in Euros.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Licence
-
The licence is ammortised over 20 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 4 ).
5. Intangible assets
Goodwill
Cost
At 1 January 2023 and 31 December 2023
20,000
--------
Amortisation
At 1 January 2023
10,800
Charge for the year
1,000
--------
At 31 December 2023
11,800
--------
Carrying amount
At 31 December 2023
8,200
--------
At 31 December 2022
9,200
--------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
Cost
At 1 Jan 2023
9,315,366
668,352
134,894
131,600
23,270
10,273,482
Additions
5,553
5,553
------------
---------
---------
---------
--------
-------------
At 31 Dec 2023
9,320,919
668,352
134,894
131,600
23,270
10,279,035
------------
---------
---------
---------
--------
-------------
Depreciation
At 1 Jan 2023
549,146
134,894
131,600
23,270
838,910
Charge for the year
56,439
56,439
------------
---------
---------
---------
--------
-------------
At 31 Dec 2023
605,585
134,894
131,600
23,270
895,349
------------
---------
---------
---------
--------
-------------
Carrying amount
At 31 Dec 2023
9,320,919
62,767
9,383,686
------------
---------
---------
---------
--------
-------------
At 31 Dec 2022
9,315,366
119,206
9,434,572
------------
---------
---------
---------
--------
-------------
7. Investments
Loans to group undertakings
Cost
At 1 January 2023 and 31 December 2023
91,631
--------
Impairment
At 1 January 2023 and 31 December 2023
--------
Carrying amount
At 31 December 2023
91,631
--------
At 31 December 2022
91,631
--------
8. Debtors
2023
2022
Trade debtors
219,873
238,153
Amounts owed by group undertakings and undertakings in which the company has a participating interest
261,118
227,851
Other debtors
206,977
202,502
---------
---------
687,968
668,506
---------
---------
9. Creditors: amounts falling due within one year
2023
2022
Trade creditors
45,918
38,500
Social security and other taxes
627
4,361
Other creditors
63,129
63,598
---------
---------
109,674
106,459
---------
---------
10. Creditors: amounts falling due after more than one year
2023
2022
Amounts owed to group undertakings and undertakings in which the company has a participating interest
10,530,924
10,405,924
-------------
-------------
11. Related party transactions
The parent company, MOGU Limited, is a company incorporated in England and Wales. The ultimate parent company, Horesti Investments Limited, is a company incorporated in the British Virgin Islands.