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Registration number: 10819660

APT Developers Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

APT Developers Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

APT Developers Limited

Company Information

Directors

Mr X Peka

Mr K Brati

Registered office

3 Commerce Road
Brentford
Middlesex
TW8 8LE

Accountants

Grays Accountants Ltd

 

APT Developers Limited

(Registration number: 10819660)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,341,075

2,377,837

Current assets

 

Debtors

5

15,305

-

Cash at bank and in hand

 

2,102

11,026

 

17,407

11,026

Creditors: Amounts falling due within one year

6

(1,803,333)

(1,243,202)

Net current liabilities

 

(1,785,926)

(1,232,176)

Total assets less current liabilities

 

555,149

1,145,661

Creditors: Amounts falling due after more than one year

6

(543,541)

(1,166,884)

Net assets/(liabilities)

 

11,608

(21,223)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

11,508

(21,323)

Shareholders' funds/(deficit)

 

11,608

(21,223)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 October 2024 and signed on its behalf by:
 

 

APT Developers Limited

(Registration number: 10819660)
Balance Sheet as at 31 March 2024

.........................................
Mr X Peka
Director

 

APT Developers Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
3 Commerce Road
Brentford
Middlesex
TW8 8LE

These financial statements were authorised for issue by the Board on 4 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

APT Developers Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

In accordance with the provisions of Sections 16 and 17 of FRS102 on the basis that the company's freehold property is rented to a group company the property is accounted for under the general provisions of property, plant and equipment rather than within the provisions of Investment Property under Section 16. The company therefore applies the cost model to the property and depreciates the proportion of cost relating to the building.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% on cost

Plant and machinery

6.67% on cost

Fixtures and fittings

20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

APT Developers Limited

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

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

APT Developers Limited

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

2,432,233

14,410

86,778

2,533,421

At 31 March 2024

2,432,233

14,410

86,778

2,533,421

Depreciation

At 1 April 2023

115,138

13,449

26,997

155,584

Charge for the year

30,016

961

5,785

36,762

At 31 March 2024

145,154

14,410

32,782

192,346

Carrying amount

At 31 March 2024

2,287,079

-

53,996

2,341,075

At 31 March 2023

2,317,095

961

59,781

2,377,837

Included within the net book value of land and buildings above is £2,287,079 (2023 - £2,317,095) in respect of freehold land and buildings.
 

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

6,900

-

Prepayments

 

8,405

-

   

15,305

-

 

APT Developers Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

674,967

94,753

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,079,516

1,112,852

Taxation and social security

 

48,850

35,597

 

1,803,333

1,243,202

Bank loans shown above are secured by way of charges over the company's investment properties.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

543,541

1,166,884

Bank loans shown above are secured by way of charges over the company's investment properties.

 

APT Developers Limited

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

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

363,541

986,884

Other borrowings

180,000

180,000

543,541

1,166,884

Current loans and borrowings

2024
£

2023
£

Bank borrowings

674,967

94,753

8

Parent and ultimate parent undertaking

The company's immediate parent is APT Scaffolding LImited, incorporated in United Kingdom.

 The most senior parent entity producing publicly available financial statements is APT Scaffolding Limited.