Company Registration No. 13164332 (England and Wales)
Apex Drains Ltd
Unaudited accounts
for the year ended 31 January 2024
Apex Drains Ltd
Unaudited accounts
Contents
Apex Drains Ltd
Company Information
for the year ended 31 January 2024
Company Number
13164332 (England and Wales)
Registered Office
380A New Hythe Lane
Larkfield
Maidstone
Kent
ME20 6RZ
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Apex Drains Ltd
Statement of financial position
as at 31 January 2024
Tangible assets
42,360
33,612
Cash at bank and in hand
3,570
13,784
Creditors: amounts falling due within one year
(37,318)
(17,155)
Net current assets
3,092
3,508
Total assets less current liabilities
45,452
37,120
Provisions for liabilities
Deferred tax
(9,336)
(7,840)
Called up share capital
1
1
Profit and loss account
36,115
29,279
Shareholders' funds
36,116
29,280
For the year ending 31 January 2024 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2024 and were signed on its behalf by
Liam Banks
Director
Company Registration No. 13164332
Apex Drains Ltd
Notes to the Accounts
for the year ended 31 January 2024
Apex Drains Ltd is a private company, limited by shares, registered in England and Wales, registration number 13164332. The registered office is 380A New Hythe Lane, Larkfield, Maidstone, Kent, ME20 6RZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Apex Drains Ltd
Notes to the Accounts
for the year ended 31 January 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2023
23,342
23,600
-
2,549
49,491
Additions
12,647
7,751
1,723
749
22,870
At 31 January 2024
35,989
31,351
1,723
3,298
72,361
At 1 February 2023
7,598
7,400
-
881
15,879
Charge for the year
7,099
5,988
431
604
14,122
At 31 January 2024
14,697
13,388
431
1,485
30,001
At 31 January 2024
21,292
17,963
1,292
1,813
42,360
At 31 January 2023
15,744
16,200
-
1,668
33,612
Amounts falling due within one year
Other debtors
28,623
6,879
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
25,734
11,555
Loans from directors
8,609
-
Apex Drains Ltd
Notes to the Accounts
for the year ended 31 January 2024
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).