Company Registration No. 05347214 (England and Wales)
APE Properties Limited
Unaudited accounts
for the year ended 31 January 2024
APE Properties Limited
Unaudited accounts
Contents
APE Properties Limited
Company Information
for the year ended 31 January 2024
Directors
Penelope Jane Hill
Brandon Hill
Company Number
05347214 (England and Wales)
Accountants
Falcor BC Limited
61 High Street
Chobham
GU24 8AF
APE Properties Limited
Statement of financial position
as at 31 January 2024
Tangible assets
46,960
59,800
Investment property
2,327,495
1,986,536
Cash at bank and in hand
(8,328)
(5,560)
Creditors: amounts falling due within one year
(697,762)
(736,726)
Net current liabilities
(692,848)
(673,039)
Total assets less current liabilities
1,681,607
1,373,297
Creditors: amounts falling due after more than one year
(1,345,569)
(926,318)
Provisions for liabilities
Deferred tax
(97,816)
(97,816)
Net assets
238,222
349,163
Called up share capital
100
100
Profit and loss account
238,122
349,063
Shareholders' funds
238,222
349,163
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by
Penelope Jane Hill
Director
Company Registration No. 05347214
APE Properties Limited
Notes to the Accounts
for the year ended 31 January 2024
APE Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 05347214.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment to match to current useful value.
No allowance is made for tools described as plant & equipment.
Investment property is included at market fair value. Gains are recognised in the income statement after completion of building work. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The profits recorded on revaluations are not distributable until such time as the properties are sold.
APE Properties Limited
Notes to the Accounts
for the year ended 31 January 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2023
5,000
71,747
-
76,747
At 31 January 2024
5,000
71,747
1,509
78,256
At 1 February 2023
-
16,947
-
16,947
Charge for the year
-
14,349
-
14,349
At 31 January 2024
-
31,296
-
31,296
At 31 January 2024
5,000
40,451
1,509
46,960
At 31 January 2023
5,000
54,800
-
59,800
Fair value at 1 February 2023
1,986,536
At 31 January 2024
2,327,495
The Company holds five properties.
39 Kingsway Blackwater (£675,000) , a 137 Hampton Lane (£560 000), 139 Hampton Lane (£290 000) 141 Hampton Lane £388,000), and Rear of 139 &141 Hampton Lane has a directors valuation of £110 000.
Amounts falling due within one year
Amounts falling due after more than one year
Amounts due from group undertakings etc.
13,242
8,216
APE Properties Limited
Notes to the Accounts
for the year ended 31 January 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
23,333
33,333
Obligations under finance leases and hire purchase contracts
29,888
29,888
Trade creditors
55,381
35,844
Amounts owed to group undertakings and other participating interests
-
14,736
Taxes and social security
(219)
(395)
Other creditors
13,366
10,866
Loans from directors
575,498
612,755
Directors loans are advances from Penelope Hill, Brandon Hill and Callum Hill. Penelope Hill is paid interest on her loan at the rate of 4.8%
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,345,569
926,318
Aggregate of amounts that fall due for payment after five years
1,322,236
959,651
The long term creditors are secured by interest-only Mortgages over the Investment Properties.
Precise Mortgages £516 733 (2023 -£516 839) over 39 Kingsway
Catalyst £390 000(2023 -£268 000) over137 Hampton Lane
Catalyst £227 500 over 139 Hampton Lane
Keystone £226,935 (2023 -£217 500) over 141 Hampton Lane
Bounce Bank Loan £ 23 333 (2023 - £33 333)
The Directors (Penelope Hill and Brandon Hill) has personally guaranteed mortgages on behalf of the company.
9
Transactions with related parties
The following loans were outstanding with Directors at year end: Interest is charges on these loans.
Brandon Hill (credit) £83 865
Callum Hill (credit) £10 087
Penelope Hill (creditor) £483 605
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).