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Registered number: 05619242
Apical It Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Bhimjiyani & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05619242
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 83,858 82,817
83,858 82,817
CURRENT ASSETS
Debtors 5 19,191 43,029
Cash at bank and in hand 29,326 159,773
48,517 202,802
Creditors: Amounts Falling Due Within One Year 6 (201,167 ) (225,276 )
NET CURRENT ASSETS (LIABILITIES) (152,650 ) (22,474 )
TOTAL ASSETS LESS CURRENT LIABILITIES (68,792 ) 60,343
Creditors: Amounts Falling Due After More Than One Year 7 (42,395 ) (58,344 )
NET (LIABILITIES)/ASSETS (111,187 ) 1,999
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (111,287 ) 1,899
SHAREHOLDERS' FUNDS (111,187) 1,999
Page 1
Page 2
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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Ayesha Ahmed
Director
25 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Apical It Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05619242 . The registered office is 72 Little Bushey Lane, Bushey, WD23 4SE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18%
Motor Vehicles 18%
Fixtures & Fittings 18%
Computer Equipment 18%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 3
2 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 23,064 57,137 2,616 - 82,817
Additions - - - 1,041 1,041
As at 31 March 2024 23,064 57,137 2,616 1,041 83,858
Net Book Value
As at 31 March 2024 23,064 57,137 2,616 1,041 83,858
As at 1 April 2023 23,064 57,137 2,616 - 82,817
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,191 43,029
Other debtors 6,000 -
19,191 43,029
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 263 71,101
Corporation tax 20,635 20,635
Other taxes and social security 12,436 12,698
VAT 124,724 107,426
Net wages - 3,500
Accruals and deferred income 7,534 7,513
Directors' loan accounts 35,575 2,403
201,167 225,276
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,566 27,866
Bank loans 19,829 30,478
42,395 58,344
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 22,566 27,866
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5