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COMPANY REGISTRATION NUMBER: 11875594
APX Architecture Ltd
Filleted Unaudited Financial Statements
31 March 2024
APX Architecture Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
APX Architecture Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
581
1,541
Current assets
Stocks
23,000
19,000
Debtors
6
73,952
88,443
Cash at bank and in hand
304,323
315,894
---------
---------
401,275
423,337
Creditors: amounts falling due within one year
7
45,886
76,033
---------
---------
Net current assets
355,389
347,304
---------
---------
Total assets less current liabilities
355,970
348,845
---------
---------
Net assets
355,970
348,845
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
355,870
348,745
---------
---------
Shareholders funds
355,970
348,845
---------
---------
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 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 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 .
APX Architecture Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 29 October 2024 , and are signed on behalf of the board by:
Mr A Woodbridge
Mr M Bennett
Director
Director
Company registration number: 11875594
APX Architecture Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, 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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fixtures and fittings
-
20% straight line
Equipment
-
50% straight line
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.
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. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2023
1,927
9,130
11,057
Additions
483
483
-------
-------
--------
At 31 March 2024
1,927
9,613
11,540
-------
-------
--------
Depreciation
At 1 April 2023
1,572
7,944
9,516
Charge for the year
355
1,088
1,443
-------
-------
--------
At 31 March 2024
1,927
9,032
10,959
-------
-------
--------
Carrying amount
At 31 March 2024
581
581
-------
-------
--------
At 31 March 2023
355
1,186
1,541
-------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
51,251
66,372
Other debtors
22,701
22,071
--------
--------
73,952
88,443
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
732
612
Trade creditors
1,356
1,978
Corporation tax
16,358
29,368
Social security and other taxes
11,653
15,469
Other creditors
15,787
28,606
--------
--------
45,886
76,033
--------
--------
8. Related party transactions
During the period, a director was advanced £58,458 and made repayments of £52,570. No interest was charged on this loan. At the period end the company owed the director £4,570 (2023: £10,458). During the period, a director was advanced £62,580 and made repayments of £54,370. No interest was charged on this loan. At the period end the company owed the director £6,370 (2023: £14,580). At the year end the company was owed £20,000 (2023: £20,000) by a company associated by common control.