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COMPANY REGISTRATION NUMBER: 02211142
APEX BUSINESS DEVELOPMENT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
27 March 2024
APEX BUSINESS DEVELOPMENT LIMITED
STATEMENT OF FINANCIAL POSITION
27 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
274
322
CURRENT ASSETS
Debtors
6
150,632
75,957
CREDITORS: amounts falling due within one year
7
256,177
257,724
---------
---------
NET CURRENT LIABILITIES
105,545
181,767
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 105,271)
( 181,445)
---------
---------
NET LIABILITIES
( 105,271)
( 181,445)
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
10,000
10,000
Profit and loss account
( 115,271)
( 191,445)
---------
---------
SHAREHOLDERS DEFICIT
( 105,271)
( 181,445)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 27 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 December 2024 , and are signed on behalf of the board by:
Mr P R Angell
Director
Company registration number: 02211142
APEX BUSINESS DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 27 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Unit 8 Pipewell Road, Desborough, Northamptonshire, NN14 2SW.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the associated companies under common control.
On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax.
Income tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. TANGIBLE ASSETS
Plant and machinery
£
Cost
At 28 March 2023 and 27 March 2024
525
----
Depreciation
At 28 March 2023
203
Charge for the year
48
----
At 27 March 2024
251
----
Carrying amount
At 27 March 2024
274
----
At 27 March 2023
322
----
6. DEBTORS
2024
2023
£
£
Other debtors
150,632
75,957
---------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
13,443
9,195
Trade creditors
62,977
71,274
Corporation tax
6,325
Social security and other taxes
29,869
24,201
Other creditors
143,563
153,054
---------
---------
256,177
257,724
---------
---------
Bank loans and overdrafts are secured over the assets of the company.
8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr P R Angell
48,218
27,624
75,842
--------
--------
----
--------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr P R Angell
71,370
( 23,152)
48,218
--------
----
--------
--------
9. GOING CONCERN
The director has considered the period to 31 December 2025 when assessing the company's ability to continue as a going concern. It is believed that the company will be able to satisfy it's liabilities as these become payable.