Registered number
05424826
API Partnership Limited
Unaudited Filleted Accounts
30 April 2024
API Partnership Limited
Registered number: 05424826
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 28,047 33,958
Investments 5 180,900 180,900
208,947 214,858
Current assets
Stocks 35,325 29,595
Debtors 6 563,350 386,121
Cash at bank and in hand 958,738 1,142,584
1,557,413 1,558,300
Creditors: amounts falling due within one year 7 (161,412) (303,549)
Net current assets 1,396,001 1,254,751
Total assets less current liabilities 1,604,948 1,469,609
Creditors: amounts falling due after more than one year 8 - (22,129)
Provisions for liabilities (2,012) (2,393)
Net assets 1,602,936 1,445,087
Capital and reserves
Called up share capital 150 150
Profit and loss account 1,602,786 1,444,937
Shareholders' funds 1,602,936 1,445,087
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Sotiriou
Director
Approved by the board on 6 January 2025
API Partnership Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
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).
Turnover
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. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles over 4 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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.
Stocks and work-in-progress
Stocks and work-in-progress represents the value of services carried out but not yet invoiced as at the year end.
Debtors
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.
Creditors
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.
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.
Provisions
Provisions (ie 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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Government Grants
Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 14
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 296,000
At 30 April 2024 296,000
Amortisation
At 1 May 2023 296,000
At 30 April 2024 296,000
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 68,198 87,595 155,793
Additions 11,493 - 11,493
At 30 April 2024 79,691 87,595 167,286
Depreciation
At 1 May 2023 49,058 72,777 121,835
Charge for the year 12,465 4,939 17,404
At 30 April 2024 61,523 77,716 139,239
Net book value
At 30 April 2024 18,168 9,879 28,047
At 30 April 2023 19,140 14,818 33,958
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 May 2023 180,900
At 30 April 2024 180,900
6 Debtors 2024 2023
£ £
Trade debtors 315,381 368,524
Amounts owed by group undertakings and undertakings in which the company has a participating interest 54,750 -
Other debtors 193,219 17,597
563,350 386,121
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,162 14,807
Corporation tax 25,588 91,085
Other taxes and social security costs 86,403 95,450
Other creditors 43,259 102,207
161,412 303,549
8 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors - 22,129
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A Sotiriou
Loan - 67,832 - 67,832
Mr P Karageorghis
Loan - 104,552 - 104,552
- 172,384 - 172,384
10 Related party transactions
In accordance with the exemption available in Section 33 of FRS 102; the company has not disclosed transactions with its 100% subsidiary companies within the group.

The company has availed of an exemption available in Section 1.12 of FRS 102 from the requirement to disclose details of the remuneration of 'Key Management Personnel'.
11 Controlling party
There is no overall controlling party.
12 Other information
API Partnership Limited is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
Crystal Palace
London
SE19 1TX
API Partnership Limited 05424826 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 Mr A Sotiriou No description of principal activity 05424826 2022-05-01 2023-04-30 05424826 core:WithinOneYear 2023-04-30 05424826 core:AfterOneYear 2023-04-30 05424826 core:ShareCapital 2023-04-30 05424826 core:RetainedEarningsAccumulatedLosses 2023-04-30 05424826 2023-05-01 2024-04-30 05424826 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05424826 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05424826 bus:Director40 2023-05-01 2024-04-30 05424826 1 2023-05-01 2024-04-30 05424826 2 2023-05-01 2024-04-30 05424826 core:PlantMachinery 2023-05-01 2024-04-30 05424826 core:Vehicles 2023-05-01 2024-04-30 05424826 bus:Director1 2023-05-01 2024-04-30 05424826 bus:Director1 1 2023-05-01 2024-04-30 05424826 bus:Director2 2023-05-01 2024-04-30 05424826 bus:Director2 1 2023-05-01 2024-04-30 05424826 countries:England 2023-05-01 2024-04-30 05424826 bus:FRS102 2023-05-01 2024-04-30 05424826 bus:FilletedAccounts 2023-05-01 2024-04-30 05424826 2024-04-30 05424826 core:WithinOneYear 2024-04-30 05424826 core:AfterOneYear 2024-04-30 05424826 core:ShareCapital 2024-04-30 05424826 core:RetainedEarningsAccumulatedLosses 2024-04-30 05424826 core:Goodwill 2024-04-30 05424826 core:PlantMachinery 2024-04-30 05424826 core:Vehicles 2024-04-30 05424826 bus:Director1 1 2024-04-30 05424826 bus:Director2 1 2024-04-30 05424826 2023-04-30 05424826 core:Goodwill 2023-04-30 05424826 core:PlantMachinery 2023-04-30 05424826 core:Vehicles 2023-04-30 05424826 bus:Director1 1 2023-04-30 05424826 bus:Director2 1 2023-04-30 iso4217:GBP xbrli:pure