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Registration number: 09819913

Apex House Frome Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Apex House Frome Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Apex House Frome Limited

Company Information

Directors

J G J Maryon

J G Whelan

Registered office

The Old Church School
Butts Hill
Frome
BA11 1HR

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Apex House Frome Limited

(Registration number: 09819913)
Balance Sheet
30 June 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

959,492

315,734

Cash at bank and in hand

 

11,637

67,416

 

971,129

383,150

Creditors: Amounts falling due within one year

5

(1,373,590)

(781,482)

Net liabilities

 

(402,461)

(398,332)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(402,561)

(398,432)

Shareholders' deficit

 

(402,461)

(398,332)

 

Apex House Frome Limited

(Registration number: 09819913)
Balance Sheet
30 June 2024

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 24 March 2025 and signed on its behalf by:
 

.........................................
J G J Maryon
Director

 

Apex House Frome Limited

Notes to the Unaudited Financial Statements
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:
The Old Church School
Butts Hill
Frome
BA11 1HR

These financial statements were authorised for issue by the Board on 24 March 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.

Going concern

The directors have assessed the Statement of Financial Position and likely future cashflows at the date of approving these financial statements. The company is supported through loans from the parent company and connected companies. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the parent company and connected companies will continue to support the company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in prepaing the finacial statements.

 

Apex House Frome Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

Revenue recognition

Rental income from investment property leased out under operating leases is recognised in the statement of income and retained earnings on a straight-line basis over the term of the lease.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Apex House Frome Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

4

Debtors

2024
£

2023
£

Amounts owed by related parties

55,343

30,343

Other debtors

132,939

45,391

Accrued income

771,210

240,000

959,492

315,734

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

28,014

51,465

Amounts owed to group undertakings and undertakings in which the company has a participating interest

550,328

369,019

Accruals and deferred income

1,000

2,750

Other creditors

794,248

358,248

1,373,590

781,482