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Registration number: 05174395

APA Parafricta Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

APA Parafricta Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

APA Parafricta Limited

Company Information

Directors

Mrs C Cotes

Mr M Hoskins

Mr T A Jones

Mrs M S H Coleman

Mr K F Yip

Mr E J Venters

Registered office

30 Upper High Street
Thame
OX9 3EZ

Accountants

Botterill & Co
Chartered Certified AccountantsFirst Floor Offices
40 Norwood
Beverley
East Yorkshire
HU17 9EY

 

APA Parafricta Limited

(Registration number: 05174395)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

30,000

30,000

Tangible assets

5

212

156

 

30,212

30,156

Current assets

 

Stocks

6

31,985

46,107

Debtors

7

44,331

37,913

Cash at bank and in hand

 

42,839

101,849

 

119,155

185,869

Creditors: Amounts falling due within one year

8

(34,107)

(44,340)

Net current assets

 

85,048

141,529

Total assets less current liabilities

 

115,260

171,685

Creditors: Amounts falling due after more than one year

8

(27,775)

(33,333)

Net assets

 

87,485

138,352

Capital and reserves

 

Called up share capital

9

15

15

Share premium reserve

2,243,867

2,243,867

Retained earnings

(2,156,397)

(2,105,530)

Shareholders' funds

 

87,485

138,352

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Board on 28 January 2025 and signed on its behalf by:
 

 

APA Parafricta Limited

(Registration number: 05174395)
Balance Sheet as at 30 June 2024

.........................................
Mr T A Jones
Director

   
     
 

APA Parafricta Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
30 Upper High Street
Thame
OX9 3EZ
England

These financial statements were authorised for issue by the Board 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.

Revenue recognition

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

APA Parafricta Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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.

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

Office Equipment

33% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

5% Straight line

Website

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

APA Parafricta Limited

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

APA Parafricta Limited

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

Share based payments

The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

123,500

123,500

At 30 June 2024

123,500

123,500

Amortisation

At 1 July 2023

93,500

93,500

At 30 June 2024

93,500

93,500

Carrying amount

At 30 June 2024

30,000

30,000

At 30 June 2023

30,000

30,000

The aggregate amount of research and development expenditure recognised as an expense during the period is £45 (2023 - £3,639).
 

 

APA Parafricta Limited

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

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

5,238

5,238

Additions

317

317

At 30 June 2024

5,555

5,555

Depreciation

At 1 July 2023

5,082

5,082

Charge for the year

261

261

At 30 June 2024

5,343

5,343

Carrying amount

At 30 June 2024

212

212

At 30 June 2023

156

156

6

Stocks

2024
£

2023
£

Other inventories

31,985

46,107

7

Debtors

Current

2024
£

2023
£

Trade debtors

32,977

26,210

Prepayments

10,373

10,722

Other debtors

981

981

 

44,331

37,913

8

Creditors

Creditors: amounts falling due within one year

 

APA Parafricta Limited

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

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

5,555

5,555

Trade creditors

 

8,385

14,940

Taxation and social security

 

16,908

18,953

Accruals and deferred income

 

2,745

4,411

Other creditors

 

514

481

 

34,107

44,340

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

27,775

33,333

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.0001 each

141,735

14.17

141,735

14.17

Ordinary A of £0.0001 each

11,700

1.17

11,700

1.17

153,435

15.34

153,435

15.34

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

27,775

33,333

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,555

5,555