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Registered number: 09766488 (England and Wales)














APR EUROPE LIMITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


 
APR EUROPE LIMITED
 

 
COMPANY INFORMATION


Director
J Gibbs 




Registered number
09766488



Registered office
Birchin Court
5th Floor

19-25 Birchin Lane

London

United Kingdom

EC3V 9DU




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited






 
APR EUROPE LIMITED
 


CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 6



 
APR EUROPE LIMITED
REGISTERED NUMBER:09766488


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Tangible fixed assets
 4 
-
-

  
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
1,082,597
635,752

Bank and cash balances
  
279,586
325,168

  
1,362,183
960,920

Creditors: amounts falling due within one year
 6 
(299,996)
(288,308)

Net current assets
  
 
 
1,062,187
 
 
672,612

Total assets less current liabilities
  
1,062,187
672,612

  

Net assets
  
1,062,187
672,612


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,062,087
672,512

  
1,062,187
672,612


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 comprehensive income 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: 


J Gibbs
Director

Date: 19 March 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1


 
APR EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
1.2

Going concern

At the year end the Company is in a net asset position. Despite being in a net asset position, the Company remains reliant on continued support from its parent company, APR Consulting Co. by way of intercompany recharges and group revenue contracts. The Company has received written confirmation from its parent company that it will continue to provide financial support to the Company for a period of at least 12 months from the date of signing these financial statements. For this reason, the director continues to adopt the going concern basis in preparing these financial statements.

 
1.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Rendering of services
The Company generates turnover from a number of service contracts held with both direct customers and the parent company. Turnover generated from direct customers is recognised in line with the period in which the service is provided. Turnover generated from the parent company is recognised based on a calculation of both resources spent and time worked by employees of the Company. 
In relation to all contracts, the following criteria must also be met before turnover is recognised:
 
the amount of turnover 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.

 
1.4

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.

Page 2


 
APR EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)


1.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Fixtures and fittings
-
5
years
Computer equipment
-
3
years

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.

 
1.5

Debtors

Short-term debtors are measured at transaction price. Amounts owed by group undertakings are intercompany loans measured at cost. These loans are unsecured, interest-free and repayable on demand. 

 
1.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash held on deposit by service providers is included within bank and cash balances, as these amounts are highly liquid and repayable without penalty on notice of not more than 24 hours.

 
1.7

Creditors

Short-term creditors are measured at the transaction price.

 
1.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3


 
APR EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.9

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.

 
1.10

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


2.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 24 March 2025 by Edward Wallis ACA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.


3.


Employees

The average monthly number of employees during the year was 6 (2022 - 7).

Page 4


 
APR EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
606
15,213
15,819



At 31 December 2023

606
15,213
15,819



Depreciation


At 1 January 2023
606
15,213
15,819



At 31 December 2023

606
15,213
15,819



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
-
-
-

Page 5


 
APR EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
271,432
171,364

Amounts owed by group undertakings
724,113
421,937

Other debtors
14,775
7,441

Prepayments and accrued income
72,277
35,010

1,082,597
635,752



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
19,337
21,769

Corporation tax
121,587
109,377

Other taxation and social security
48,131
32,651

Other creditors
9,342
8,128

Accruals and deferred income
101,599
116,383

299,996
288,308



7.


Controlling party

APR Consulting Co. is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 1001 Bannock St, Unit 526, Denver CO 80204.


8.


Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved. 

 
Page 6