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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
Page
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Apex Drains Ltd Company Information for the year ended 31 January 2024
Director
Liam Banks
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
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Apex Drains Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
42,360 
33,612 
Current assets
Debtors
36,840 
6,879 
Cash at bank and in hand
3,570 
13,784 
40,410 
20,663 
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)
Net assets
36,116 
29,280 
Capital and reserves
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
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Apex Drains Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Pension 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
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.
Leased assets
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
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.
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Apex Drains Ltd Notes to the Accounts for the year ended 31 January 2024
Deferred taxation
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 
Depreciation
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 
Net book value
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 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
8,217 
- 
Other debtors
28,623 
6,879 
36,840 
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 
- 
Accruals
2,975 
5,600 
37,318 
17,155 
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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).
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