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Registration number: SC729863

Apex Vendor Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Apex Vendor Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Apex Vendor Ltd

Company Information

Director

Mr A I Scott

Registered office

14 Boclair Road
Bearsden
Glasgow
G61 2AF

Accountants

Deans Accountants And Business Advisors Ltd 27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

 

DEANS

Chartered Accountants

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Apex Vendor Ltd for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Apex Vendor Ltd for the year ended 30 April 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of Apex Vendor Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Apex Vendor Ltd and state those matters that we have agreed to state to the Board of Directors of Apex Vendor Ltd, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Apex Vendor Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Apex Vendor Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Apex Vendor Ltd. You consider that Apex Vendor Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Apex Vendor Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

28 January 2025

 

Apex Vendor Ltd

(Registration number: SC729863)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

54,359

9,037

Current assets

 

Stocks

5

1,377

400

Cash at bank and in hand

 

4,547

345

 

5,924

745

Creditors: Amounts falling due within one year

6

(70,498)

(13,104)

Net current liabilities

 

(64,574)

(12,359)

Net liabilities

 

(10,215)

(3,322)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(10,315)

(3,422)

Shareholders' deficit

 

(10,215)

(3,322)

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 January 2025
 

.........................................
Mr A I Scott
Director

 

Apex Vendor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
14 Boclair Road
Bearsden
Glasgow
G61 2AF

The principal place of business is:
14 Boclair Road
Bearsden
Glasgow
G61 2AF

These financial statements were authorised for issue by the director on 28 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company is not directly impacted by Brexit.

The accounts are presented in £GBP and are rounded to the nearest £1.

Going concern

The company has net liabilities of £10,215 as at 30 April 2024. The company relies on the continued support of the directors to finance the day to day working requirements.

The directors consider it appropriate to prepare the Financial Statements on a going concern basis after consideration of all the information available about the foreseeable future (limited to one year from the date of approval of these financial statements) there is reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future.

If adoption of the going concern basis was inappropriate, adjustments could be required to write down assets to the assessment of their recoverable value, to reclassify fixed assets as current assets and to provide for any further liabilities that may arise.

Revenue recognition

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales value added tax, returns, rebates and discounts.

Sale of goods - Retail
Sale of goods are recognised on sale to the customer, which is considered the point of delivery. Retail sales are usually by cash, credit or payment card.

The company does not operate any loyalty programmes.
 

 

Apex Vendor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Apex Vendor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Other tangible assets

25% reducing balance

Motor vehicles

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

 

Apex Vendor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

-

12,050

12,050

Additions

7,800

47,846

55,646

At 30 April 2024

7,800

59,896

67,696

Depreciation

At 1 May 2023

-

3,013

3,013

Charge for the year

2,574

7,750

10,324

At 30 April 2024

2,574

10,763

13,337

Carrying amount

At 30 April 2024

5,226

49,133

54,359

At 30 April 2023

-

9,037

9,037

5

Stocks

2024
£

2023
£

Other inventories

1,377

400

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

324

300

Other creditors

70,174

12,804

70,498

13,104

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Apex Vendor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Related party transactions

Other transactions with the director

During the year the director loaned money to the company. At the year end the balance outstanding from the company was £70,174 (2023 - £12,804).