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REGISTERED NUMBER: 06262154 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Apogee Industries Limited

Apogee Industries Limited (Registered number: 06262154)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Apogee Industries Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: W D G Chappel





SECRETARY: Mrs D J Chappel





REGISTERED OFFICE: The Cottage
Sharcott Manor
Pewsey
Wiltshire
SN9 5PA





REGISTERED NUMBER: 06262154 (England and Wales)

Apogee Industries Limited (Registered number: 06262154)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,274 62,457

CURRENT ASSETS
Stocks 10,991 18,526
Debtors 5 71,317 39,258
Cash at bank 100,702 130,832
183,010 188,616
CREDITORS
Amounts falling due within one year 6 155,851 165,630
NET CURRENT ASSETS 27,159 22,986
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,433

85,443

CREDITORS
Amounts falling due after more than one
year

7

(11,161

)

(36,354

)

PROVISIONS FOR LIABILITIES (10,168 ) (15,125 )
NET ASSETS 48,104 33,964

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 48,102 33,962
48,104 33,964

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 24 September 2024 and were signed by:





W D G Chappel - Director


Apogee Industries Limited (Registered number: 06262154)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Apogee Industries 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customer 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.
Improvements to property - 10% on straight line basis
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively

Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset when they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Repairs and maintenance costs are expensed as incurred.

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

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.


Apogee Industries Limited (Registered number: 06262154)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, 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.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Distributions to equity holders

Dividends and other distributions to company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Apogee Industries Limited (Registered number: 06262154)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 19,185 234,586 -
Additions - - 717
Disposals (19,185 ) (73,275 ) -
At 31 March 2024 - 161,311 717
DEPRECIATION
At 1 April 2023 18,582 173,739 -
Charge for year - 7,239 179
Eliminated on disposal (18,582 ) (60,688 ) -
At 31 March 2024 - 120,290 179
NET BOOK VALUE
At 31 March 2024 - 41,021 538
At 31 March 2023 603 60,847 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 9,750 4,004 267,525
Additions - - 717
Disposals - (4,004 ) (96,464 )
At 31 March 2024 9,750 - 171,778
DEPRECIATION
At 1 April 2023 8,856 3,891 205,068
Charge for year 179 - 7,597
Eliminated on disposal - (3,891 ) (83,161 )
At 31 March 2024 9,035 - 129,504
NET BOOK VALUE
At 31 March 2024 715 - 42,274
At 31 March 2023 894 113 62,457

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 71,317 36,442
Amounts owed by group undertakings - 2,816
71,317 39,258

Apogee Industries Limited (Registered number: 06262154)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,193 23,056
Trade creditors 14,919 9,161
Amounts owed to group undertakings 1,921 -
Tax 16,955 6,227
Social security and other taxes 7,753 16,986
Other creditors 75,491 63,756
Directors' current accounts 11,612 44,542
Accrued expenses 2,007 1,902
155,851 165,630

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 11,161 25,193
Bank loans - 2-5 years - 11,161
11,161 36,354

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 21,812 43,625
Between one and five years - 21,812
21,812 65,437

9. POST BALANCE SHEET EVENTS

At the end of the financial year, there was a fire in the workshop which caused damage to the building and equipment. Due to the timing of the fire, the financial impact during 23/24 was not significant. The director is of the opinion that the accounts for 24/25 will not be materially different.