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REGISTERED NUMBER: 06652349 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

APEX HOUSING SOLUTIONS LTD

APEX HOUSING SOLUTIONS LTD (REGISTERED NUMBER: 06652349)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


APEX HOUSING SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr V B Y Cherchian
Mr M B Hookway
Ms K Keene





REGISTERED OFFICE: Grand Union Studios
332 Ladbroke Grove
London
W10 5AD





REGISTERED NUMBER: 06652349 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

APEX HOUSING SOLUTIONS LTD (REGISTERED NUMBER: 06652349)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,661 15,183
Tangible assets 5 9,041 5,798
18,702 20,981

CURRENT ASSETS
Debtors 6 1,209,625 1,211,743
Prepayments and accrued income 11,563 18,131
Cash at bank and in hand 632,488 679,855
1,853,676 1,909,729
CREDITORS
Amounts falling due within one year 7 1,755,937 1,202,730
NET CURRENT ASSETS 97,739 706,999
TOTAL ASSETS LESS CURRENT
LIABILITIES

116,441

727,980

CREDITORS
Amounts falling due after more than one year 8 - 616,675
NET ASSETS 116,441 111,305

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 115,441 110,305
SHAREHOLDERS' FUNDS 116,441 111,305

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 HOUSING SOLUTIONS LTD (REGISTERED NUMBER: 06652349)

STATEMENT OF FINANCIAL POSITION - 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by:





Mr V B Y Cherchian - Director


APEX HOUSING SOLUTIONS LTD (REGISTERED NUMBER: 06652349)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Apex Housing Solutions Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the directors are required to make estimates and judgments about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


APEX HOUSING SOLUTIONS LTD (REGISTERED NUMBER: 06652349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

APEX HOUSING SOLUTIONS LTD (REGISTERED NUMBER: 06652349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

GOING CONCERN
Although the Company’s balance sheet reflects a positive financial position, certain factors, such as potential cash flow constraints, market uncertainties, or significant pending liabilities, could impact its ability to continue as a going concern. Management is actively monitoring these risks and implementing strategies to mitigate any potential adverse effects on future operations.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
Cost
At 1 June 2023
and 31 May 2024 22,085
Amortisation
At 1 June 2023 6,902
Amortisation for year 5,522
At 31 May 2024 12,424
Net book value
At 31 May 2024 9,661
At 31 May 2023 15,183

APEX HOUSING SOLUTIONS LTD (REGISTERED NUMBER: 06652349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 June 2023 10,796 171,528 67,459 249,783
Additions 594 - 5,458 6,052
Disposals (9,055 ) (171,528 ) (59,982 ) (240,565 )
At 31 May 2024 2,335 - 12,935 15,270
Depreciation
At 1 June 2023 9,588 171,528 62,869 243,985
Charge for year 597 - 1,786 2,383
Eliminated on disposal (9,055 ) (171,528 ) (59,556 ) (240,139 )
At 31 May 2024 1,130 - 5,099 6,229
Net book value
At 31 May 2024 1,205 - 7,836 9,041
At 31 May 2023 1,208 - 4,590 5,798

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 937,741 1,038,241
Other debtors 271,884 173,502
1,209,625 1,211,743

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 168,651 736,078
Trade creditors 126,792 102,486
Taxation and social security 346,677 208,636
Other creditors 1,113,817 155,530
1,755,937 1,202,730

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors - 616,675

APEX HOUSING SOLUTIONS LTD (REGISTERED NUMBER: 06652349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 168,651 736,078

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. RELATED PARTY DISCLOSURES

During the year the company operated a loan with its direct parent. The amount owed by the company to the parent at the year end was £253,701 (2023 - £60,532). This loan is interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is BGF Investment Management Limited