Company registration number 05628310 (England and Wales)
APA Group Services Limited
Annual Report and Consolidated Financial Statements
for the year ended 31 July 2024
APA Group Services Limited
Company Information
Directors
J E Appleyard
A P Appleyard
Secretary
J E Appleyard
Company number
05628310
Registered office
APA House
171 Huddersfield Road
Low Moor
Bradford
West Yorkshire
BD12 0TQ
Auditor
B M Howarth Ltd
West House
King Cross Road
Halifax
West Yorkshire
HX1 1EB
APA Group Services Limited
Contents
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Group statement of comprehensive income
7
Group statement of financial position
8
Company statement of financial position
9
Group statement of changes in equity
10
Company statement of changes in equity
11
Group statement of cash flows
12
Notes to the financial statements
13 - 23
APA Group Services Limited
Strategic Report
for the year ended 31 July 2024
- 1 -
The directors present the strategic report for the year ended 31 July 2024.
Principal activities
The principal activity of the company and group continued to be that of a holdings company, concrete repair specialists, building completion solutions and scaffolding specialists.
Review of the business
The group results for the year show turnover of £17.8m (2023 : £11.0m) and a pre tax profit of £2.0m (2023 : £1.8m). The gross profit margin is 35.1% (2023 : 39.6%). The directors are pleased with the financial performance of the group. Net assets of the group have increased to £5.5m (2023 : £4.5m).
Principal risks and uncertainties
Competition and threat to market share are key risks. The risk is alleviated by maximising customer service and support.
All debts are rigorously chased as they fall due and credit checks are performed on all new customers. The group's financing requirements are constantly monitored in order to maintain liquidity such that sufficient funs are available for ongoing operations and future developments.
Payments of creditors
The group's policy is to pay creditors in line with each of the suppliers credit terms.
Future developments
The prospects for the forthcoming financial year are encouraging with continued profitability and growth expected for the group.
The directors look forward to another successful and profitable year. There is not expected to be a significant impact on the groups ability to continue as a going concern.
A P Appleyard
Director
8 April 2025
APA GROUP SERVICES LIMITED
APA Group Services Limited
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
The directors present their annual report and financial statements for the year ended 31 July 2024.
Results and dividends
The results for the year are set out on page 7.
Ordinary dividends were paid amounting to £9,821. The directors do not recommend payment of a further dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
J E Appleyard
A P Appleyard
Auditor
B M Howarth Ltd were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006.
Statement of directors' responsibilities
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Strategic report
The truegroup has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.
APA GROUP SERVICES LIMITED
APA Group Services Limited
DIRECTORS' REPORT (continued)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.
On behalf of the board
A P Appleyard
Director
8 April 2025
APA Group Services Limited
Independent Auditor's Report
to the members of APA Group Services Limited
- 4 -
Opinion
We have audited the financial statements of APA Group Services Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2024 which comprise the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the group's and the parent company's affairs as at 31 July 2024 and of the group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
APA Group Services Limited
Independent Auditor's Report (continued)
to the members of APA Group Services Limited
- 5 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Based on our understanding of the group and the sectors in which it operates, our audit work considers the risk of material misstatement on the financial statements as a result of non-compliance with laws and regulations, this includes fraud. These laws and regulations include, but are not limited to, those that relate to the form and content of the financial statements, such as the Company accounting policies, the financial reporting framework and the UK Companies Act 2006.
We evaluated management incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks related to management bias in accounting estimates and understatement or overstatement of revenue. Our audit procedures included, but were not limited to:
Agreement of the financial statements disclosures to underlying supporting documentation;
Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
Challenging assumptions, accounting estimates and judgements made by Directors;
Identifying and testing journal entries to ensure they are appropriate.
Sample testing of income and expenditure to ensure correct cut-off has been applied.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.
There are inherent limitations in audit procedures, the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
APA Group Services Limited
Independent Auditor's Report (continued)
to the members of APA Group Services Limited
- 6 -
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Other matters which we are required to address
The comparative figures in these consolidated accounts are unaudited.
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
James Bell (Senior Statutory Auditor)
For and on behalf of B M Howarth Ltd, Statutory Auditor
Chartered Accountants
West House
King Cross Road
Halifax
West Yorkshire
HX1 1EB
8 April 2025
APA Group Services Limited
Group Statement of Comprehensive Income
for the year ended 31 July 2024
- 7 -
2024
2023
Notes
£
£
Turnover
2
17,790,842
10,973,993
Cost of sales
(11,545,327)
(6,625,201)
Gross profit
6,245,515
4,348,792
Administrative expenses
(4,281,073)
(2,581,005)
Other operating income
-
11,880
Operating profit
3
1,964,442
1,779,667
Interest receivable
7
18,223
7,304
Interest payable
8
(9,304)
(12,200)
Profit before taxation
1,973,361
1,774,771
Tax on profit
9
(759,685)
(123,431)
Profit for the financial year
1,213,676
1,651,340
Profit for the financial year is attributable to:
- Owners of the parent company
1,181,805
1,557,357
- Non-controlling interests
31,871
93,983
1,213,676
1,651,340
Total comprehensive income for the year is attributable to:
- Owners of the parent company
1,181,805
1,557,357
- Non-controlling interests
31,871
93,983
1,213,676
1,651,340
APA Group Services Limited
Group Statement Of Financial Position
as at 31 July 2024
31 July 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
1,498,507
1,322,615
Current assets
Stocks
15
745,098
127,844
Debtors
16
6,776,434
3,454,656
Cash at bank and in hand
2,591,845
1,568,304
10,113,377
5,150,804
Creditors: amounts falling due within one year
17
(5,712,696)
(1,898,997)
Net current assets
4,400,681
3,251,807
Total assets less current liabilities
5,899,188
4,574,422
Creditors: amounts falling due after more than one year
18
(118,687)
(95,166)
Provisions for liabilities
Deferred tax liability
19
279,933
13,562
(279,933)
(13,562)
Net assets
5,500,568
4,465,694
Capital and reserves
Called up share capital
20
200
200
Other reserves
332,062
332,062
Profit and loss reserves
5,107,760
3,999,269
Equity attributable to owners of the parent company
5,440,022
4,331,531
Non-controlling interests
60,546
134,163
Total equity
5,500,568
4,465,694
These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.
The financial statements were approved by the board of directors and authorised for issue on 8 April 2025 and are signed on its behalf by:
08 April 2025
A P Appleyard
Director
Company registration number 05628310 (England and Wales)
APA Group Services Limited
Company Statement of financial position
as at 31 July 2024
31 July 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
1,310,716
1,109,944
Investments
13
1,750
1,750
1,312,466
1,111,694
Current assets
Stocks
15
127,844
127,844
Debtors
16
403,185
1,001,549
Cash at bank and in hand
2,406,627
788,880
2,937,656
1,918,273
Creditors: amounts falling due within one year
17
(193,289)
(71,163)
Net current assets
2,744,367
1,847,110
Total assets less current liabilities
4,056,833
2,958,804
Creditors: amounts falling due after more than one year
18
(6,274)
-
Provisions for liabilities
Deferred tax liability
19
274,481
(274,481)
-
Net assets
3,776,078
2,958,804
Capital and reserves
Called up share capital
20
200
200
Profit and loss reserves
3,775,878
2,958,604
Total equity
3,776,078
2,958,804
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £827,095 (2023 - £1,187,545 profit).
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 April 2025 and are signed on its behalf by:
08 April 2025
A P Appleyard
Director
Company registration number 05628310 (England and Wales)
APA Group Services Limited
Group Statement Of Changes In Equity
for the year ended 31 July 2024
- 10 -
Share capital
Other reserves
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
Balance at 1 August 2022
200
332,062
2,517,903
2,850,165
52,760
2,902,925
Year ended 31 July 2023:
Profit and total comprehensive income
-
-
1,557,357
1,557,357
93,983
1,651,340
Dividends
10
-
-
(9,821)
(9,821)
(78,950)
(88,771)
Other movements
-
-
(66,170)
(66,170)
66,370
200
Balance at 31 July 2023
200
332,062
3,999,269
4,331,531
134,163
4,465,694
Year ended 31 July 2024:
Profit and total comprehensive income
-
-
1,181,805
1,181,805
31,871
1,213,676
Dividends
10
-
-
(9,821)
(9,821)
(168,981)
(178,802)
Other movements
-
-
(63,493)
(63,493)
63,493
-
Balance at 31 July 2024
200
332,062
5,107,760
5,440,022
60,546
5,500,568
APA Group Services Limited
Company Statement of Changes in Equity
for the year ended 31 July 2024
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2022
200
1,780,881
1,781,081
Year ended 31 July 2023:
Profit and total comprehensive income for the year
-
1,187,544
1,187,544
Dividends
10
-
(9,821)
(9,821)
Balance at 31 July 2023
200
2,958,604
2,958,804
Year ended 31 July 2024:
Profit and total comprehensive income
-
827,095
827,095
Dividends
10
-
(9,821)
(9,821)
Balance at 31 July 2024
200
3,775,878
3,776,078
APA Group Services Limited
Group Statement of Cash Flows
for the year ended 31 July 2024
- 12 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
1,834,661
1,689,139
Interest paid
(9,304)
(12,200)
Income taxes paid
(118,204)
(121,166)
Net cash inflow from operating activities
1,707,153
1,555,773
Investing activities
Purchase of tangible fixed assets
(630,000)
(1,223,840)
Proceeds from disposal of tangible fixed assets
41,250
35,750
Increase/(repayment) of loans
20,242
(110)
Interest received
18,223
7,304
Net cash used in investing activities
(550,285)
(1,180,896)
Financing activities
Increase/(payment) of hire purchase obligations
45,475
(6,309)
Dividends paid to equity shareholders
(9,821)
(9,821)
Dividends paid to non-controlling interests
(168,981)
(78,950)
Net cash used in financing activities
(133,327)
(95,080)
Net increase in cash and cash equivalents
1,023,541
279,797
Cash and cash equivalents at beginning of year
1,568,304
1,288,507
Cash and cash equivalents at end of year
2,591,845
1,568,304
APA Group Services Limited
Notes to the Group Financial Statements
for the year ended 31 July 2024
- 13 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company APA Group Services Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 July 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised where a right to consideration is due upon completion of contractual obligations.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% straight line basis
Fixtures and fittings
20-25% straight line basis
Computers Equipment
33.33% straight line basis
Motor vehicles
25% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
1
Accounting policies
(continued)
- 14 -
Fixed asset investments
Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Assets obtained under hire purchase contracts are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account on a straight line basis over the period of the agreement.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
- 15 -
2
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Concrete repair services and building solutions
16,742,928
9,978,011
Scaffolding services
1,046,893
991,652
Rental income
1,021
4,330
17,790,842
10,973,993
2024
2023
£
£
Other revenue
Interest income
18,223
7,304
Grants received
-
11,880
3
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Government grants
-
(11,880)
Fees payable to the group's auditor for the audit of the group's financial statements
13,000
-
Depreciation of owned tangible fixed assets
416,521
260,871
Profit on disposal of tangible fixed assets
(3,663)
(4,229)
Operating lease charges
20,409
98,034
4
Employees
The average monthly number of persons (including directors) employed by the group and company during the year was:
Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
61
65
2
2
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
4
Employees
(continued)
- 16 -
Their aggregate remuneration comprised:
Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
2,732,100
1,756,417
19,200
19,200
Social security costs
279,116
183,471
138
141
Pension costs
48,047
33,040
3,059,263
1,972,928
19,338
19,341
5
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
19,200
19,200
6
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
48,047
33,040
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
7
Interest receivable
2024
2023
£
£
Interest income
Interest on bank deposits
18,223
7,304
8
Interest payable
2024
2023
£
£
Interest on finance leases and hire purchase contracts
9,275
12,200
Other interest
29
-
Total finance costs
9,304
12,200
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
- 17 -
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
589,565
214,455
Adjustments in respect of prior periods
(96,251)
(75,031)
Total current tax
493,314
139,424
Deferred tax
Origination and reversal of timing differences
266,371
(15,993)
Total tax charge
759,685
123,431
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
1,973,361
1,774,771
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 21.00%)
493,340
372,702
Tax effect of expenses that are not deductible in determining taxable profit
130,239
Change in unrecognised deferred tax assets
191,578
(175,026)
Adjustments in respect of prior years
(96,251)
(75,031)
Effect of change in corporation tax rate
40,779
-
Enhanced capital allowances
786
Taxation charge
759,685
123,431
10
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Interim paid
9,821
9,821
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
26,000
Amortisation and impairment
At 1 August 2023 and 31 July 2024
26,000
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
11
Intangible fixed assets
(continued)
- 18 -
Carrying amount
At 31 July 2024
At 31 July 2023
Company
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
26,000
Amortisation and impairment
At 1 August 2023 and 31 July 2024
26,000
Carrying amount
At 31 July 2024
At 31 July 2023
12
Tangible fixed assets
Group
Plant and equipment
Fixtures and fittings
Computers Equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2023
891,488
167,790
56,602
1,175,882
2,291,762
Additions
311,141
3,305
315,554
630,000
Disposals
(10,500)
(16,242)
(139,090)
(165,832)
At 31 July 2024
1,192,129
171,095
40,360
1,352,346
2,755,930
Depreciation and impairment
At 1 August 2023
382,154
79,105
50,008
457,880
969,147
Depreciation charged in the year
142,384
28,890
6,520
238,727
416,521
Eliminated in respect of disposals
(3,850)
(16,242)
(108,153)
(128,245)
At 31 July 2024
520,688
107,995
40,286
588,454
1,257,423
Carrying amount
At 31 July 2024
671,441
63,100
74
763,892
1,498,507
At 31 July 2023
509,334
88,685
6,594
718,002
1,322,615
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
12
Tangible fixed assets
(continued)
- 19 -
Company
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2023
636,406
81,614
612,565
1,330,585
Additions
304,133
1,710
242,654
548,497
Disposals
(10,500)
(10,500)
At 31 July 2024
930,039
83,324
855,219
1,868,582
Depreciation and impairment
At 1 August 2023
142,450
14,870
63,321
220,641
Depreciation charged in the year
134,742
21,536
184,797
341,075
Eliminated in respect of disposals
(3,850)
(3,850)
At 31 July 2024
273,342
36,406
248,118
557,866
Carrying amount
At 31 July 2024
656,697
46,918
607,101
1,310,716
At 31 July 2023
493,956
66,744
549,244
1,109,944
13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
14
1,750
1,750
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 August 2023 and 31 July 2024
1,750
Carrying amount
At 31 July 2024
1,750
At 31 July 2023
1,750
14
Subsidiaries
Details of the company's subsidiaries at 31 July 2024 are as follows:
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
14
Subsidiaries
(continued)
- 20 -
Name of undertaking
Address
Class of
% Held
shares held
Direct
APA Concrete Repairs Limited
1
A Ordinary
100.00
APA Building Solutions Limited
1
A Ordinary
85.00
APA Height Access Limited
1
A Ordinary
80.00
Registered office addresses (all UK unless otherwise indicated):
1
APA House, 171 Huddersfield Road, Bradford, BD12 0TQ
15
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Work in progress
617,254
-
-
-
Finished goods and goods for resale
127,844
127,844
127,844
127,844
745,098
127,844
127,844
127,844
16
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
6,020,756
2,689,912
36,000
36,000
Amounts owed by group undertakings
-
-
-
451,140
Other debtors
682,164
712,571
346,632
506,336
Prepayments and accrued income
73,514
52,173
20,553
8,073
6,776,434
3,454,656
403,185
1,001,549
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
- 21 -
17
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under hire purchase
55,968
34,014
18,822
Trade creditors
636,723
595,688
156,667
65,484
Gross amounts owed to contract customers
747,170
480,000
Amounts owed to group undertakings
850
Corporation tax payable
589,565
214,455
Other taxation and social security
1,075,786
379,907
-
29
Other creditors
279,025
30,000
Accruals and deferred income
2,328,459
164,933
17,800
4,800
5,712,696
1,898,997
193,289
71,163
The obligations under hire purchase are secured on the assets to which they relate.
18
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under hire purchase
118,687
95,166
6,274
The obligations under hire purchase are secured on the assets to which they relate.
19
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
279,933
13,562
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
274,481
-
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
19
Deferred taxation
(continued)
- 22 -
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 August 2023
13,562
-
Charge to profit or loss
266,371
274,481
Liability at 31 July 2024
279,933
274,481
20
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
200
200
21
Operating lease commitments
Lessee
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
3,284
-
-
-
Between two and five years
9,305
-
-
-
12,589
-
-
-
22
Controlling party
The company was controlled throughout the year by the directors through their collective ownership of the ordinary share capital.
APA Group Services Limited
Notes to the Group Financial Statements (continued)
for the year ended 31 July 2024
- 23 -
23
Cash generated from group operations
2024
2023
£
£
Profit after taxation
1,213,676
1,651,340
Adjustments for:
Taxation charged
759,685
123,431
Finance costs
9,304
12,200
Investment income
(18,223)
(7,304)
Gain on disposal of tangible fixed assets
(3,663)
(4,229)
Depreciation and impairment of tangible fixed assets
416,521
260,871
Movements in working capital:
(Increase)/decrease in stocks
(617,254)
149,090
Increase in debtors
(3,342,020)
(151,925)
Increase/(decrease) in creditors
3,416,635
(344,335)
Cash generated from operations
1,834,661
1,689,139
24
Analysis of changes in net funds - group
1 August 2023
Cash flows
31 July 2024
£
£
£
Cash at bank and in hand
1,568,304
1,023,541
2,591,845
Obligations under finance leases
(129,180)
(45,475)
(174,655)
1,439,124
978,066
2,417,190
25
Company information
APA Group Services Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is APA House, 171 Huddersfield Road, Low Moor, Bradford, West Yorkshire, BD12 0TQ.
The group consists of APA Group Services Limited and all of its subsidiaries.
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