Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsetruetrue2023-04-01falseNo description of principal activity7861The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06267504 2023-04-01 2024-03-31 06267504 2022-04-01 2023-03-31 06267504 2024-03-31 06267504 2023-03-31 06267504 1 2023-04-01 2024-03-31 06267504 d:Director1 2023-04-01 2024-03-31 06267504 d:Director1 2024-03-31 06267504 d:Director2 2023-04-01 2024-03-31 06267504 d:Director2 2024-03-31 06267504 d:Director3 2023-04-01 2024-03-31 06267504 d:Director3 2024-03-31 06267504 d:RegisteredOffice 2023-04-01 2024-03-31 06267504 c:Buildings c:LongLeaseholdAssets 2023-04-01 2024-03-31 06267504 c:Buildings c:LongLeaseholdAssets 2024-03-31 06267504 c:Buildings c:LongLeaseholdAssets 2023-03-31 06267504 c:PlantMachinery 2023-04-01 2024-03-31 06267504 c:PlantMachinery 2024-03-31 06267504 c:PlantMachinery 2023-03-31 06267504 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06267504 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06267504 c:CurrentFinancialInstruments 2024-03-31 06267504 c:CurrentFinancialInstruments 2023-03-31 06267504 c:Non-currentFinancialInstruments 2024-03-31 06267504 c:Non-currentFinancialInstruments 2023-03-31 06267504 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 06267504 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 06267504 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 06267504 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 06267504 c:ShareCapital 2024-03-31 06267504 c:ShareCapital 2023-03-31 06267504 c:RetainedEarningsAccumulatedLosses 2024-03-31 06267504 c:RetainedEarningsAccumulatedLosses 2023-03-31 06267504 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 06267504 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 06267504 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-03-31 06267504 d:FRS102 2023-04-01 2024-03-31 06267504 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06267504 d:FullAccounts 2023-04-01 2024-03-31 06267504 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06267504 c:WithinOneYear 2024-03-31 06267504 c:WithinOneYear 2023-03-31 06267504 c:BetweenOneFiveYears 2024-03-31 06267504 c:BetweenOneFiveYears 2023-03-31 06267504 c:MoreThanFiveYears 2024-03-31 06267504 c:MoreThanFiveYears 2023-03-31 06267504 4 2023-04-01 2024-03-31 06267504 6 2023-04-01 2024-03-31 06267504 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 06267504







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


INNER APE LIMITED






































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INNER APE LIMITED
 


 
COMPANY INFORMATION


Directors
F Stone (resigned 15 January 2025)
H D'Anterroches (appointed 15 January 2025)
A Paulhac (appointed 15 January 2025)




Registered number
06267504



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Trading Address
Building One
Drummonds Road

London

SE16 4DG






Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


INNER APE LIMITED
REGISTERED NUMBER:06267504



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,595
530,173

Investments
 5 
100
100

  
35,695
530,273

Current assets
  

Stocks
  
25,332
42,890

Debtors: amounts falling due within one year
 6 
612,419
323,064

Cash at bank and in hand
  
7,241
32,826

  
644,992
398,780

Creditors: amounts falling due within one year
 7 
(1,945,918)
(1,252,481)

Net current liabilities
  
 
 
(1,300,926)
 
 
(853,701)

Total assets less current liabilities
  
(1,265,231)
(323,428)

Creditors: amounts falling due after more than one year
 8 
(70,132)
(123,832)

Provisions for liabilities
  

Other provisions
 9 
(698,889)
(898,889)

  
 
 
(698,889)
 
 
(898,889)

Net liabilities
  
(2,034,252)
(1,346,149)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(2,034,352)
(1,346,249)

  
(2,034,252)
(1,346,149)


Page 1

 


INNER APE LIMITED
REGISTERED NUMBER:06267504


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



A Paulhac
Director

Date: 27 February 2025


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


INNER APE LIMITED
 


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

1.


General information

Inner Ape Limited is a private company, limited by shares, registered in England and Wales, company registration number 06267504. The registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9LT.
The principal place of business is Building One, Drummonds Road, London, SE16 4DG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

As at the balance sheet date the company had net current liabilities of £1,300,926 (2023: £853,701). The company was negatively impacted by the Covid 19 lockdowns and restrictions and was still loss making during the financial year.
 
The directors  has taken measures to safeguard cashflow, customers and the supply chain, as well as focusing on more profitable sites to streamline the business. Extended credit terms have been agreed with certain suppliers and securing agreements to surrender leases. It is therefore of the directors' opinion that the going concern basis of preparation continues to be appropriate.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 


INNER APE LIMITED
 


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

2.Accounting policies (continued)

  
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold improvements
-
life of the lease ranging from 6 - 14 years
Plant and machinery
-
33%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 4

 


INNER APE LIMITED
 


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

2.Accounting policies (continued)

 
2.10

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 78 (2023 - 61).

Page 5

 


INNER APE LIMITED
 


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

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2023
847,013
879,548
1,726,561


Additions
-
789
789


Revaluations
(679,716)
-
(679,716)



At 31 March 2024

167,297
880,337
1,047,634



Depreciation


At 1 April 2023
350,323
846,065
1,196,388


Charge for the year on owned assets
76,434
10,294
86,728


Impairment charge
(271,077)
-
(271,077)



At 31 March 2024

155,680
856,359
1,012,039



Net book value



At 31 March 2024
11,617
23,978
35,595



At 31 March 2023
496,690
33,483
530,173

Page 6

 


INNER APE LIMITED
 


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

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
100



At 31 March 2024
100





6.


Debtors

2024
2023
£
£


Other debtors
529,991
236,647

Prepayments and accrued income
82,428
86,417

612,419
323,064



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
102
102

Bank loans
41,753
67,177

Other loans
-
18,333

Trade creditors
1,725,221
824,458

Corporation tax
-
6,445

Other taxation and social security
138,265
63,473

Other creditors
20,581
92,063

Accruals and deferred income
19,996
180,430

1,945,918
1,252,481


Creditors within one year include amounts of £24,444  (2023: £57,266) secured on specific company assets.

Page 7

 


INNER APE LIMITED
 


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

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,949
56,910

Other creditors
56,183
66,922

70,132
123,832


Creditors falling due in more than one year include amounts of £NIL (2023: £32,799) secured on specific company assets.


9.


Provisions





Onerous lease

£





At 1 April 2023
898,889


Charged to profit or loss
(200,000)



At 31 March 2024
698,889


10.


Commitments under operating leases

At 31 March 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
674,745
664,061

Later than 1 year and not later than 5 years
1,921,968
2,451,042

Later than 5 years
102,778
248,448

2,699,491
3,363,551


11.


Related party transactions

At the balance sheet date, the company is a guarantor for a loan to a company under common control limited to an amount not exceeding £50,000. Additionally, within other debtors, there is a balance due of £8,770 to this company (2023: £9,640). The loan has been provided interest free and is repayable on demand.

Page 8

 


INNER APE LIMITED
 


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

12.


Transactions with directors

Included within other debtors is a balance due from the director amounting to £65,588 (2023: £19,096).
Amounts advanced during the year totalled £58,150.
Amounts repaid during the year totalled £12,624.
Interest arising on these balances totalled £966.


13.


Post balance sheet events

After the balance sheet date the company has agreed to surrender leases for premises which had operating commitments at the year end totaling £2,699,491. An onerous lease provision of £698,889 (2023: £898,889) is included in these accounts which relates to one of the surrendered leases.
As part of the as part of the lease surrender agreement rent arrears at the year end were reduced by £695,000. The remaining rent arrears were agreed to be paid over the subsquent 3 years.

 
Page 9