APG 002 Limited Filleted Accounts Cover
APG 002 Limited
Company No. 12286740
Information for Filing with The Registrar
27 March 2024
APG 002 Limited Balance Sheet Registrar
at
27 March 2024
Company No.
12286740
Notes
2024
2023
£
£
Fixed assets
Tangible assets
5
723964
Investment property
6
1,973,4541,750,000
1,974,1771,750,964
Current assets
Debtors
7
94,63192,400
Cash at bank and in hand
2,08310,900
96,714103,300
Creditors: Amount falling due within one year
8
(470,718)
(258,560)
Net current liabilities
(374,004)
(155,260)
Total assets less current liabilities
1,600,1731,595,704
Creditors: Amounts falling due after more than one year
9
(979,200)
(979,200)
Provisions for liabilities
Deferred taxation
(126,361)
(126,361)
Net assets
494,612490,143
Capital and reserves
Called up share capital
100100
Profit and loss account
12
494,512490,043
Total equity
494,612490,143
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the period ended 27 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit 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 accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 26 March 2025 and signed on its behalf by:
J.A. Parry
Director
26 March 2025
APG 002 Limited Notes to the Accounts Registrar
for the period ended 27 March 2024
1
General information
APG 002 Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 12286740
Its registered office is:
F38 & F39 Cheadle Place
Cheadle
Stockport
Cheshire
SK8 2GL
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable under the terms of short term Holiday let contracts.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Change in length of the reporting period
The length of the reporting period has changed from 12 months to 361 days
4
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the period:
11
5
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 April 2023
2,0572,057
At 27 March 2024
2,0572,057
Depreciation
At 1 April 2023
1,0931,093
Charge for the year
241241
At 27 March 2024
1,3341,334
Net book values
At 27 March 2024
723723
At 31 March 2023
964
964
6
Investment property
Freehold Investment Property
£
Valuation
At 1 April 2023
1,750,000
Additions
223,454
At 27 March 2024
1,973,454
The freehold investment property is valued at open market value based on similar properties within the same geographical area.
7
Debtors
2024
2023
£
£
Amounts owed by group undertakings
94,55792,400
VAT recoverable
74-
94,63192,400
8
Creditors:
amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
420,533
234,405
Taxes and social security
-
4,203
Loans from directors
3,77318,453
Accruals and deferred income
46,4121,499
470,718258,560
9
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
979,200979,200
979,200979,200
Liabilities repayable in more than five years after the balance sheet date
Amount repayable otherwise than by instalments
979,200
979,200
979,200979,200
10
Creditors: secured liabilities
2024
2023
£
£
The aggregate amount of secured liabilities included within creditors
979,200979,200
The Mortgage loans are secured by fixed and floating charges over the company's freehold investment property.
11
Share Capital
100 Ordinary shares of £1 each fully paid
12
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
13
Related party disclosures
Transactions with related parties
Parent Company
The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:
Adelphi Property Group Holdings Limited
The parent's registered office address is:
F38&F39 Cheadle Place
Stockport Road
Cheadle
Stockport
SK8 2GL
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