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Apex Carpentry Contractors Limited
Filleted accounts
31 August 2024
Company registration number: 09710933
Apex Carpentry Contractors Limited
Directors and other information
Directors R Day
A J Eggleton
D N Fletcher
Company number 09710933
Registered office The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Apex Carpentry Contractors Limited
Balance sheet
31st August 2024
31/08/24 28/02/23
Note £ £ £ £
Fixed assets
Intangible assets 5 35,000 -
_______ _______
35,000 -
Current assets
Debtors 6 137,522 -
Cash at bank and in hand 79,937 100
_______ _______
217,459 100
Creditors: amounts falling due
within one year 7 ( 271,116) -
_______ _______
Net current (liabilities)/assets ( 53,657) 100
_______ _______
Net (liabilities)/assets ( 18,657) 100
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account ( 18,757) -
_______ _______
Shareholders (deficit)/funds ( 18,657) 100
_______ _______
For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 December 2024 , and are signed on behalf of the board by:
R Day
Director
Company registration number: 09710933
Apex Carpentry Contractors Limited
Notes to the financial statements
Period ended 31st August 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. The company's principal activity during the period wwas that of the development of building projects.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is not recognised in respect of any timing differences at the reporting date as all are insignificant. Unrelieved tax losses and other deferred tax assets are not recognised as it is uncertain when they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 4 (2023: Nil).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1st March 2023 - -
Additions 40,777 40,777
_______ _______
At 31st August 2024 40,777 40,777
_______ _______
Amortisation
At 1st March 2023 - -
Charge for the period 5,777 5,777
_______ _______
At 31st August 2024 5,777 5,777
_______ _______
Carrying amount
At 31st August 2024 35,000 35,000
_______ _______
At 28th February 2023 - -
_______ _______
6. Debtors
31/08/24 28/02/23
£ £
Trade debtors 123,176 -
Other debtors 14,346 -
_______ _______
137,522 -
_______ _______
7. Creditors: amounts falling due within one year
31/08/24 28/02/23
£ £
Trade creditors 37,961 -
Social security and other taxes 935 -
Other creditors 232,220 -
_______ _______
271,116 -
_______ _______
8. Called up share capital
Issued, called up and fully paid
31/08/24 28/02/23
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______