Company registration number 04137503 (England and Wales)
APPLE HOUSE PROJECTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
APPLE HOUSE PROJECTS LIMITED
CONTENTS
Page
Profit and loss account
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
The following pages do not form part of the financial statements
Chartered accountants' report to the directors on the preparation of the unaudited statutory financial statements
Detailed trading and profit and loss account
APPLE HOUSE PROJECTS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
300,000
300,000
Current assets
Cash at bank and in hand
24,091
30,941
Creditors: amounts falling due within one year
4
(1,759)
(2,649)
Net current assets
22,332
28,292
Total assets less current liabilities
322,332
328,292
Creditors: amounts falling due after more than one year
5
(156,326)
(165,903)
Provisions for liabilities
(15,311)
(15,311)
Net assets
150,695
147,078
Capital and reserves
Called up share capital
100
100
Revaluation reserve
50,166
50,166
Profit and loss reserves
100,429
96,812
Total equity
150,695
147,078
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
APPLE HOUSE PROJECTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 September 2024 and are signed on its behalf by:
Mrs S B Morgan
Mr K R Morgan
Director
Director
Company registration number 04137503 (England and Wales)
APPLE HOUSE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information
Apple House Projects Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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 FRS 102 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 £.
The financial statements have been prepared under the historical cost convention.
1.2
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.3
Financial instruments
Classification of financial liabilities
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 company after deducting all of its liabilities.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
1.5
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
APPLE HOUSE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 February 2023 and 31 January 2024
300,000
4
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
845
1,735
Other creditors
914
914
1,759
2,649
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
156,326
165,903