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REGISTERED NUMBER: 06553944 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Apex Moto X Worcester Limited

Apex Moto X Worcester Limited (Registered number: 06553944)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Apex Moto X Worcester Limited

Company Information
for the year ended 31 May 2024







DIRECTORS: D R Ellis
M J Davis





SECRETARY: D R Ellis





REGISTERED OFFICE: Unit 21 Enfield Industrial Estate
Redditch
Worcestershire
B97 6BY





REGISTERED NUMBER: 06553944 (England and Wales)





ACCOUNTANTS: Derek Young & Co Accountants LLP
Chartered Accountants
Estate House
Evesham Street
Redditch
Worcestershire
B97 4HP

Apex Moto X Worcester Limited (Registered number: 06553944)

Abridged Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 75,836 97,575
75,836 97,575

CURRENT ASSETS
Debtors - 7,600
Cash at bank and in hand 22,284 20,204
22,284 27,804
CREDITORS
Amounts falling due within one year 40,345 37,519
NET CURRENT LIABILITIES (18,061 ) (9,715 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,775

87,860

CREDITORS
Amounts falling due after more than one
year

(14,638

)

(31,217

)

PROVISIONS FOR LIABILITIES (4,412 ) (6,991 )
NET ASSETS 38,725 49,652

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings 38,723 49,650
SHAREHOLDERS' FUNDS 38,725 49,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Apex Moto X Worcester Limited (Registered number: 06553944)

Abridged Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





D R Ellis - Director


Apex Moto X Worcester Limited (Registered number: 06553944)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Apex Moto X Worcester Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts derived from the provision of goods and services falling within the company's ordinary activities, after deduction of trade discounts, value added tax and any other tax based on the amounts so derived.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Apex Moto X Worcester Limited (Registered number: 06553944)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 40,000
AMORTISATION
At 1 June 2023
and 31 May 2024 40,000
NET BOOK VALUE

At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 272,966
Additions 9,217
Disposals (29,500 )
At 31 May 2024 252,683
DEPRECIATION
At 1 June 2023 175,391
Charge for year 15,324
Eliminated on disposal (13,868 )
At 31 May 2024 176,847
NET BOOK VALUE
At 31 May 2024 75,836
At 31 May 2023 97,575

Apex Moto X Worcester Limited (Registered number: 06553944)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 49,000
Disposals (27,000 )
At 31 May 2024 22,000
DEPRECIATION
At 1 June 2023 17,313
Charge for year 4,125
Eliminated on disposal (11,813 )
At 31 May 2024 9,625
NET BOOK VALUE
At 31 May 2024 12,375
At 31 May 2023 31,687

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary shares £1 2 2

7. RELATED PARTY DISCLOSURES

The company rents land from the directors of the company. In the period under review rent of £33,600 was paid.

8. ULTIMATE CONTROLLING PARTY

The controlling parties throughout the current period were the directors by virtue of their 100% holding of the issued share capital of the company.