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APR Contracts Ltd

Registered Number
09032818
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

APR Contracts Ltd
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Mr A Snow
Mr J Snow

Registered Address

10 Western Road
Romford
RM1 3JT

Registered Number

09032818 (England and Wales)
APR Contracts Ltd
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3131,554146,902
131,554146,902
Current assets
Stocks4208,394246,000
Debtors5612,826921,663
Cash at bank and on hand5,2055,820
826,4251,173,483
Creditors amounts falling due within one year6(1,082,634)(988,467)
Net current assets (liabilities)(256,209)185,016
Total assets less current liabilities(124,655)331,918
Creditors amounts falling due after one year7(228,832)(173,076)
Provisions for liabilities9(3,589)(5,470)
Net assets(357,076)153,372
Capital and reserves
Called up share capital100100
Profit and loss account(357,176)153,272
Shareholders' funds(357,076)153,372
The financial statements were approved and authorised for issue by the Board of Directors on 29 November 2024, and are signed on its behalf by:
Mr A Snow
Director
Registered Company No. 09032818
APR Contracts Ltd
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-88
Plant and machinery20-
Fixtures and fittings20-
Vehicles20-
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year1011
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 December 22116,28049,02239,5649,311214,177
Additions-250--250
Disposals--(19,813)-(19,813)
At 30 November 23116,28049,27219,7519,311194,614
Depreciation and impairment
At 01 December 227,95632,36421,6425,31367,275
Charge for year1,3224,1282,5937998,842
On disposals--(13,057)-(13,057)
At 30 November 239,27836,49211,1786,11263,060
Net book value
At 30 November 23107,00212,7808,5733,199131,554
At 30 November 22108,32416,65817,9223,998146,902
4.Stocks

2023

2022

££
Raw materials and consumables208,394246,000
Total208,394246,000
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables601,875757,494
Other debtors10,489164,169
Prepayments and accrued income462-
Total612,826921,663
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables429,564396,655
Bank borrowings and overdrafts294,500256,544
Taxation and social security292,320306,390
Finance lease and HP contracts1,9755,114
Other creditors58,52516,563
Accrued liabilities and deferred income5,7507,201
Total1,082,634988,467
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The hire purchase obligations due within and after more than one year are secured against the assets to which they relate. All of the company's liabilities to National Westminster Bank PLC are secured against debentures dated 16 August 2017 and 29 September 2017. Bibby Financial Services Limited hold a fixed and floating charge over the company's assets by way of a debenture dated 28 January 2021.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts224,698169,870
Other creditors4,1343,206
Total228,832173,076
8.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts4,1353,206
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)3,5895,470
Total3,5895,470
10.Directors advances, credits and guarantees
At the year end the company owed the director £13,684 (2022 - the director owed the company £137,427) by way of their loan accounts.