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Company Registration No. 12978545 (England and Wales)
Apollo Precision Ltd Unaudited accounts for the year ended 31 March 2024
Apollo Precision Ltd Unaudited accounts Contents
Page
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Apollo Precision Ltd Company Information for the year ended 31 March 2024
Directors
Iain Nigel Harris Jasmine Louise Harris
Company Number
12978545 (England and Wales)
Registered Office
Barleigh Chobham Road Woking GU21 2JB UK
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Apollo Precision Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
326,341 
441,671 
Current assets
Debtors
153,722 
107,962 
Cash at bank and in hand
73,515 
84,221 
227,237 
192,183 
Creditors: amounts falling due within one year
(186,502)
(199,797)
Net current assets/(liabilities)
40,735 
(7,614)
Total assets less current liabilities
367,076 
434,057 
Creditors: amounts falling due after more than one year
(266,841)
(354,638)
Net assets
100,235 
79,419 
Capital and reserves
Called up share capital
31 
31 
Profit and loss account
100,204 
79,388 
Shareholders' funds
100,235 
79,419 
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 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 20 November 2024 and were signed on its behalf by
Jasmine Louise Harris Director Company Registration No. 12978545
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Apollo Precision Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Apollo Precision Ltd is a private company, limited by shares, registered in England and Wales, registration number 12978545. The registered office is Barleigh, Chobham Road, Woking, GU21 2JB, UK.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Apollo Precision Ltd Notes to the Accounts for the year ended 31 March 2024
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the directors have [made the following judgements: / have not had to make any judgements and there are no other key sources of estimation uncertainty] Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Determine whether leases are entered into by the company as a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. Other key sources of estimation uncertainty: Tangible fixed assets (note 4) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. Deferred tax asset (note 8) Management estimation is required to determine the amount of deferred tax asset that can be recognised based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
504,590 
26,995 
- 
6,346 
537,931 
Additions
19,839 
- 
1,429 
- 
21,268 
At 31 March 2024
524,429 
26,995 
1,429 
6,346 
559,199 
Depreciation
At 1 April 2023
89,500 
5,062 
- 
1,698 
96,260 
Charge for the year
128,117 
6,749 
145 
1,587 
136,598 
At 31 March 2024
217,617 
11,811 
145 
3,285 
232,858 
Net book value
At 31 March 2024
306,812 
15,184 
1,284 
3,061 
326,341 
At 31 March 2023
415,090 
21,933 
- 
4,648 
441,671 
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Apollo Precision Ltd Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
52,591 
Trade debtors
114,608 
47,393 
Deferred tax asset
6,219 
6,219 
Accrued income and prepayments
32,895 
1,350 
Other debtors
- 
409 
153,722 
107,962 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
19,132 
31,717 
VAT
15,700 
- 
Obligations under finance leases and hire purchase contracts
97,688 
78,672 
Trade creditors
52,232 
89,282 
Taxes and social security
1,010 
- 
Other creditors
335 
- 
Loans from directors
405 
126 
186,502 
199,797 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
266,841 
354,638 
8
Average number of employees
During the year the average number of employees was 3 (2023: 2).
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