Company registration number 11979565 (England and Wales)
PROJECT APPLE MAC LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
PROJECT APPLE MAC LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
PROJECT APPLE MAC LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
3,600
5,400
Current assets
Inventories
21,990
45,215
Trade and other receivables
18,882
17,082
Cash and cash equivalents
86,803
139,583
127,675
201,880
Current liabilities
(187,709)
(214,762)
Net current liabilities
(60,034)
(12,882)
Total assets less current liabilities
(56,434)
(7,482)
Non-current liabilities
(14,892)
(25,137)
Net liabilities
(71,326)
(32,619)
Equity
Called up share capital
100
100
Retained earnings
(71,426)
(32,719)
Total equity
(71,326)
(32,619)

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 24 February 2025
Mr M Haider
Director
Company registration number 11979565 (England and Wales)
PROJECT APPLE MAC LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Project Apple Mac Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 36 Wickstead Avenue, Luton, Bedfordshire, LU4 9DP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Going concern

The director considers the use of going concern basis of accounting is appropriate since the director has given his assurance that he will continue to support Project Apple Mac Ltd for a period of 12 months following the approval of these financial statement. There are therefore, no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue trading.true

1.3
Revenue

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and

value added tax.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.

 

Inventories held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

PROJECT APPLE MAC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
3
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 June 2023 and 31 May 2024
12,000
Depreciation and impairment
At 1 June 2023
6,600
Depreciation charged in the year
1,800
At 31 May 2024
8,400
Carrying amount
At 31 May 2024
3,600
At 31 May 2023
5,400
2024-05-312023-06-01falsefalsefalse24 February 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr M Haider119795652023-06-012024-05-31119795652024-05-31119795652023-05-3111979565core:OtherPropertyPlantEquipment2024-05-3111979565core:OtherPropertyPlantEquipment2023-05-3111979565core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3111979565core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3111979565core:Non-currentFinancialInstrumentscore:AfterOneYear2024-05-3111979565core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3111979565core:ShareCapital2024-05-3111979565core:ShareCapital2023-05-3111979565core:RetainedEarningsAccumulatedLosses2024-05-3111979565core:RetainedEarningsAccumulatedLosses2023-05-3111979565bus:Director12023-06-012024-05-3111979565core:FurnitureFittings2023-06-012024-05-31119795652022-06-012023-05-3111979565core:OtherPropertyPlantEquipment2023-05-3111979565core:OtherPropertyPlantEquipment2023-06-012024-05-3111979565bus:PrivateLimitedCompanyLtd2023-06-012024-05-3111979565bus:SmallCompaniesRegimeForAccounts2023-06-012024-05-3111979565bus:FRS1022023-06-012024-05-3111979565bus:AuditExemptWithAccountantsReport2023-06-012024-05-3111979565bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP