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Registered number: 05420961
APMS SOLUTIONS LIMITED
Unaudited Financial Statements
For The Year Ended 30 April 2024
Ten Forward Accounting Ltd
Chartered Accountants
1 Mountview Court
310 Friern Barnet Lane
London
N20 0LD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05420961
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,110 42,813
Investments 5 371,000 371,000
403,110 413,813
CURRENT ASSETS
Debtors 6 1,293,120 983,070
Cash at bank and in hand 769,902 637,974
2,063,022 1,621,044
Creditors: Amounts Falling Due Within One Year 7 (1,191,429 ) (943,867 )
NET CURRENT ASSETS (LIABILITIES) 871,593 677,177
TOTAL ASSETS LESS CURRENT LIABILITIES 1,274,703 1,090,990
NET ASSETS 1,274,703 1,090,990
CAPITAL AND RESERVES
Called up share capital 8 200 100
Profit and Loss Account 1,274,503 1,090,890
SHAREHOLDERS' FUNDS 1,274,703 1,090,990
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Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Abdul MUKADAM
Director
23/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
APMS SOLUTIONS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 05420961 . The registered office is 56 Prentis road , London , SW16 1QD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% p.a. on a reducing balance basis
Motor Vehicles 25% p.a. on a reducing balance basis
Fixtures & Fittings 25% p.a. on a reducing balance basis
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 16 17
16 17
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 149,254 34,150 76,333 259,737
As at 30 April 2024 149,254 34,150 76,333 259,737
Depreciation
As at 1 May 2023 134,367 14,941 67,616 216,924
Provided during the period 3,722 4,802 2,179 10,703
As at 30 April 2024 138,089 19,743 69,795 227,627
Net Book Value
As at 30 April 2024 11,165 14,407 6,538 32,110
As at 1 May 2023 14,887 19,209 8,717 42,813
5. Investments
Unlisted
£
Cost
As at 1 May 2023 371,000
As at 30 April 2024 371,000
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 371,000
As at 1 May 2023 371,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,293,120 983,070
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 70,372 (21,784 )
Corporation tax 53,614 26,588
Other taxes and social security - 6,566
Other creditors 12,360 12,360
Advance from debtors 487,903 -
Accruals and deferred income 176,875 612,547
Directors' loan accounts 390,305 307,590
1,191,429 943,867
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 100
9. Related Party Transactions
The company was controlled by Dr A Mukadam (who is also the company director), his wife Mrs C Mukadam, Mr Junaid Desai, Saudah Mukadam, Jolanta Urbanek, Ryan Rodrigues and Omar Mukadam. Dr A Mukadam holds 40% of ordinary share (2023: 36%), Mrs C Mukadm 15% (2023 : 10%), Mr Junaid Desai 15% (2023: 20%) , Saudah Mukadam 5% (2023: 4%), Omar Mukadam 2% (2023:4%), and Ms Jolanta Urbanek 23% (2023:10%). Ryan Rodrigues 1% (2023: 1%), Aakaar Holdings Global Ltd 0% (2023: 15%)
Included within current liabilities at the balance sheet date was the director current account of £390,305 (2022: £307,590).
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