17 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 35,248 3,199 38,447 26,283 5,484 31,767 6,680 8,965 xbrli:pure xbrli:shares iso4217:GBP 11282881 2024-04-01 2024-12-31 11282881 2024-12-31 11282881 2024-03-31 11282881 2023-04-01 2024-03-31 11282881 2024-03-31 11282881 2023-03-31 11282881 bus:Director2 2024-04-01 2024-12-31 11282881 bus:Director7 2024-04-01 2024-12-31 11282881 core:WithinOneYear 2024-12-31 11282881 core:WithinOneYear 2024-03-31 11282881 core:AfterOneYear 2024-12-31 11282881 core:AfterOneYear 2024-03-31 11282881 core:ShareCapital 2024-12-31 11282881 core:ShareCapital 2024-03-31 11282881 core:SharePremium 2024-12-31 11282881 core:SharePremium 2024-03-31 11282881 core:OtherReservesSubtotal 2024-12-31 11282881 core:OtherReservesSubtotal 2024-03-31 11282881 core:RetainedEarningsAccumulatedLosses 2024-12-31 11282881 core:RetainedEarningsAccumulatedLosses 2024-03-31 11282881 bus:Director1 2024-04-01 2024-12-31 11282881 bus:SmallEntities 2024-04-01 2024-12-31 11282881 bus:AuditExemptWithAccountantsReport 2024-04-01 2024-12-31 11282881 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2024-12-31 11282881 bus:PrivateLimitedCompanyLtd 2024-04-01 2024-12-31 11282881 bus:FullAccounts 2024-04-01 2024-12-31 11282881 core:ComputerEquipment 2024-04-01 2024-12-31 11282881 core:ComputerEquipment 2024-03-31 11282881 core:ComputerEquipment 2024-12-31 11282881 core:AfterOneYear 2024-04-01 2024-12-31 11282881 bus:Director2 1 2024-04-01 2024-12-31
COMPANY REGISTRATION NUMBER: 11282881
Appital Limited
Filleted Unaudited Financial Statements
31 December 2024
Appital Limited
Financial Statements
Period from 1 April 2024 to 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Appital Limited
Statement of Financial Position
31 December 2024
31 Dec 24
31 Mar 24
Note
£
£
Fixed assets
Tangible assets
5
6,680
8,965
Current assets
Debtors
6
523,161
358,580
Cash at bank and in hand
2,654,395
1,644,162
------------
------------
3,177,556
2,002,742
Creditors: amounts falling due within one year
7
242,826
368,674
------------
------------
Net current assets
2,934,730
1,634,068
------------
------------
Total assets less current liabilities
2,941,410
1,643,033
Creditors: amounts falling due after more than one year
8
3,619,074
1,467,915
------------
------------
Net (liabilities)/assets
( 677,664)
175,118
------------
------------
Capital and reserves
Called up share capital
37
36
Share premium account
5,898,426
5,637,514
Convertible loan note
854,115
393,204
Profit and loss account
( 7,430,242)
( 5,855,636)
------------
------------
Shareholders (deficit)/funds
( 677,664)
175,118
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Appital Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Mr M Badyra
Mr S M Carty
Director
Director
Company registration number: 11282881
Appital Limited
Notes to the Financial Statements
Period from 1 April 2024 to 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Salisbury House Ug 272-273, 29 Finsbury Circus, London, EC2M 5SQ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 17 (2024: 14 ).
5. Tangible assets
Computer Equipment
£
Cost
At 1 April 2024
35,248
Additions
3,199
--------
At 31 December 2024
38,447
--------
Depreciation
At 1 April 2024
26,283
Charge for the period
5,484
--------
At 31 December 2024
31,767
--------
Carrying amount
At 31 December 2024
6,680
--------
At 31 March 2024
8,965
--------
6. Debtors
31 Dec 24
31 Mar 24
£
£
Trade debtors
142,297
8,610
Other debtors
380,864
349,970
---------
---------
523,161
358,580
---------
---------
7. Creditors: amounts falling due within one year
31 Dec 24
31 Mar 24
£
£
Bank loans and overdrafts
11,487
10,030
Trade creditors
13,184
13,291
Social security and other taxes
65,840
48,360
Other creditors
152,315
296,993
---------
---------
242,826
368,674
---------
---------
8. Creditors: amounts falling due after more than one year
31 Dec 24
31 Mar 24
£
£
Bank loans and overdrafts
3,619,074
1,467,915
------------
------------
Bank loans and overdrafts includes the debt element of convertible loan notes issued by the company. The equity element of these convertible loan notes is presented within other reserves.
9. Directors' advances, credits and guarantees
At the balance sheet date a director owed the company £9,036 (March 2024: £8,977).