L & E APFEL LIMITED

Company Registration Number:
07197122 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2023

Period of accounts

Start date: 01 December 2022

End date: 30 November 2023

L & E APFEL LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2023

Balance sheet
Notes

L & E APFEL LIMITED

Balance sheet

As at 30 November 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 32,500 37,500
Tangible assets: 4 334 1,270
Total fixed assets: 32,834 38,770
Current assets
Stocks: 130,150 69,465
Debtors:   182,217 114,675
Cash at bank and in hand: 4,665 4,180
Total current assets: 317,032 188,320
Creditors: amounts falling due within one year: 5 (440,124) (269,529)
Net current assets (liabilities): (123,092) (81,209)
Total assets less current liabilities: (90,258) (42,439)
Creditors: amounts falling due after more than one year: 6 (15,000) (25,000)
Total net assets (liabilities): (105,258) (67,439)
Capital and reserves
Called up share capital: 2 2
Profit and loss account: (105,260) (67,441)
Shareholders funds: (105,258) (67,439)

The notes form part of these financial statements

L & E APFEL LIMITED

Balance sheet statements

For the year ending 30 November 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 November 2024
and signed on behalf of the board by:

Name: L. I. Apfel
Status: Director

The notes form part of these financial statements

L & E APFEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the sales of good net of discounts, excluding VAT.

Tangible fixed assets and depreciation policy

Depreciation is provided, at the following annual rates in order to write off each asset over its estimated useful life: Fixtures and fittings - 15% reducing balance Equipment - 33% straight line

Intangible fixed assets and amortisation policy

Amortisation is provided so as to write off the cost of the asset over the useful life of that asset as follows: Goodwill - 5% straight line

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Other accounting policies

Basis of accounting The financial statements have been prepared under the historical cost convention and on the basis of a going concern, which is subject to the continued financial support of the director and in accordance with the accounting policies Debtors Short term debtors are measured at transaction 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. Creditors Short term creditors are measured at transaction 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. Provisions Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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.

L & E APFEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

L & E APFEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Intangible Assets

Total
Cost £
At 01 December 2022 100,000
At 30 November 2023 100,000
Amortisation
At 01 December 2022 62,500
Charge for year 5,000
At 30 November 2023 67,500
Net book value
At 30 November 2023 32,500
At 30 November 2022 37,500

L & E APFEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Tangible Assets

Total
Cost £
At 01 December 2022 6,538
Additions 500
At 30 November 2023 7,038
Depreciation
At 01 December 2022 5,268
Charge for year 1,436
At 30 November 2023 6,704
Net book value
At 30 November 2023 334
At 30 November 2022 1,270

L & E APFEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

5. Creditors: amounts falling due within one year note

. 2023 2022 Bank loan (See Note 6) 10,000 10,000 Trade creditors - 2,523 Director’s loan account 280,304 201,366 Other taxation 37,240 6,560 Other creditors 100,000 40,000 Accrued expenses 12,580 9,080 ----------- ------------ £ 440,124 £ 269,529 ======= =======

L & E APFEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

6. Creditors: amounts falling due after more than one year note

. 2023 2022 Bank loan £ 15,000 £ 25,000 ====== ====== During a previous year the Company obtained a £ 50,000 unsecured bank loan underwritten by H.M. Government. Interest is payable by the Company at the rate of 2.5% per annum at the monthly rate of £ 833 plus interest.

L & E APFEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

7. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: The director has advanced the following amounts to the Company which are interest-free and repayable on demand
£
Balance at 01 December 2022 201,366
Balance at 30 November 2023 280,304