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Registration number: 08129332

Appload Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Appload Limited

(Registration number: 08129332)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

36,951

54,612

Current assets

 

Debtors

6

354,411

364,431

Cash at bank and in hand

 

-

1,629

 

354,411

366,060

Creditors: Amounts falling due within one year

7

(677,825)

(653,504)

Net current liabilities

 

(323,414)

(287,444)

Total assets less current liabilities

 

(286,463)

(232,832)

Creditors: Amounts falling due after more than one year

7

(261,610)

(120,965)

Net liabilities

 

(548,073)

(353,797)

Capital and reserves

 

Called up share capital

8

1,000

1,000

Share premium reserve

49,100

49,100

Retained earnings

(598,173)

(403,897)

Shareholders' deficit

 

(548,073)

(353,797)

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.

 

Appload Limited

(Registration number: 08129332)
Balance Sheet as at 30 June 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

Mr O P Dean
Director

   
     
 

Appload Limited

Notes to the Unaudited Financial Statements for the 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:
Norfolk House
Silbury Boulevard
Milton Keynes
Buckinghamshire
MK9 2AH
United Kingdom

These financial statements were authorised for issue by the Board on 28 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the balance sheet date, the company’s liabilities exceed its assets. The company has received assurances from its shareholders that they will continue to give full financial support to the company for the next twelve months.

 

Appload Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Appload Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20-25% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

25% straight line

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. 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.

 

Appload Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 19).

 

Appload Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

13,160

13,160

At 30 June 2024

13,160

13,160

Amortisation

At 1 July 2023

13,160

13,160

At 30 June 2024

13,160

13,160

Carrying amount

At 30 June 2024

-

-

 

Appload Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

80,214

80,214

Additions

4,456

4,456

Disposals

(17,453)

(17,453)

At 30 June 2024

67,217

67,217

Depreciation

At 1 July 2023

25,602

25,602

Charge for the year

11,027

11,027

Eliminated on disposal

(6,363)

(6,363)

At 30 June 2024

30,266

30,266

Carrying amount

At 30 June 2024

36,951

36,951

At 30 June 2023

54,612

54,612

6

Debtors

Current

2024
£

2023
£

Trade debtors

254,574

322,156

Prepayments

78,401

27,125

Other debtors

21,436

15,150

 

354,411

364,431

 

Appload Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

75,493

99,417

Trade creditors

 

141,146

126,269

Taxation and social security

 

355,486

362,335

Accruals and deferred income

 

47,225

2,288

Other creditors

 

58,475

63,195

 

677,825

653,504

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

261,610

120,965

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         
 

Appload Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

91,610

120,965

Other borrowings

170,000

-

261,610

120,965

2024
£

2023
£

Current loans and borrowings

Bank borrowings

29,223

32,890

Bank overdrafts

46,260

26,517

Other borrowings

10

40,010

75,493

99,417

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £172,800 (2023 - £252,000).

11

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

At 30 June 2024
£

Mr O P Dean

Interest free loan to a director

4,867

1,343

6,210

       
     

 

 

Appload Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

11

Related party transactions (continued)

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

Mr O P Dean

Interest free loan to a director

2,445

2,422

4,867