Company registration number 14181686 (England and Wales)
APP GROUP HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
APP GROUP HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
APP GROUP HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
101,300
1,300
Current assets
Debtors
4
112,218
245,317
Cash at bank and in hand
491,406
587,760
603,624
833,077
Creditors: amounts falling due within one year
5
(702,897)
(833,377)
Net current liabilities
(99,273)
(300)
Net assets
2,027
1,000
Capital and reserves
Called up share capital
6
990
1,000
Capital redemption reserve
10
Profit and loss reserves
1,027
Total equity
2,027
1,000
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 November 2024 and are signed on its behalf by:
Mr P Docwra
Director
Company registration number 14181686 (England and Wales)
APP GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
APP Group Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Bootham, York, North Yorkshire, YO30 7BN.
1.1
Reporting period
The previous period financial statements were drawn up from the company's incorporation of 20 June 2022 to the desired year end of 31 March 2023, and thus represented a period less than 12 months. The current financial statements cover the period from 1 April 2023 to 31 March 2024. As a consequence, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.3
Going concern
The directors have considered that it is appropriate to prepare the accounts on a going concern basis, notingtrue
that £625,097 (2023: £313,057) of current liabilities disclosed in the accounts are due to other entities under common control and directorship.
The directors have confirmed there is no intention to request repayment of these balances in the forseeable
future.
1.4
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
APP GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Where equity instruments have been sold at greater than its nominal value, the excess is reflected in share premium.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
APP GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
4
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
101,300
1,300
Movements in fixed asset investments
Shares in subsidiaries and associates
£
Cost or valuation
At 1 April 2023
1,300
Additions
100,000
At 31 March 2024
101,300
Carrying amount
At 31 March 2024
101,300
At 31 March 2023
1,300
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
29,900
Other debtors
82,318
245,317
112,218
245,317
APP GROUP HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
22,883
Amounts due to subsidiaries
625,097
313,057
Other creditors
77,800
497,437
702,897
833,377
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary of £1 each
780
780
780
780
B Ordinary of £1 each
80
80
80
80
C Ordinary of £1 each
10
10
10
10
D Ordinary of £1 each
-
10
-
10
E Ordinary of £1 each
100
100
100
100
F Ordinary of £1 each
20
20
20
20
990
1,000
990
1,000
All shares rank Pari Passu in the event on a winding up.
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director 1 -
2.25
(375,661)
720,179
939
(350,000)
(4,543)
Director 2 -
-
(12,055)
55,022
-
(56,250)
(13,283)
Director 3 -
2.25
(4,944)
15,150
19
(3,875)
6,350
Director 4 -
-
(59,444)
98,357
-
(95,618)
(56,705)
(452,104)
888,708
958
(505,743)
(68,181)