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REGISTERED NUMBER: 01526036 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

HYLEC - APL LIMITED

HYLEC - APL LIMITED (REGISTERED NUMBER: 01526036)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


HYLEC - APL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr P T Cinnamon
Mr S Duggal
Mr M L Crowther
Mr A Hatter





REGISTERED OFFICE: 5 Everitt Close
Denington Industrial Estate
Wellingborough
NN8 2QE





REGISTERED NUMBER: 01526036 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

HYLEC - APL LIMITED (REGISTERED NUMBER: 01526036)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 51,218 58,535
Tangible assets 5 156,010 171,810
207,228 230,345

CURRENT ASSETS
Stocks 275,416 293,017
Debtors 6 1,242,095 1,444,879
Cash at bank and in hand 405,612 430,253
1,923,123 2,168,149
CREDITORS
Amounts falling due within one year 7 700,807 977,386
NET CURRENT ASSETS 1,222,316 1,190,763
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,429,544

1,421,108

PROVISIONS FOR LIABILITIES 29,300 30,300
NET ASSETS 1,400,244 1,390,808

RESERVES
Capital and reserves 1,400,244 1,390,808
SHAREHOLDERS' FUNDS 1,400,244 1,390,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Mr S Duggal - Director


HYLEC - APL LIMITED (REGISTERED NUMBER: 01526036)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Hylec - APL Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TURNOVER
Unless otherwise stated, turnover represents the invoiced amounts of goods sold and services provided, net of value added tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - Over the life of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

HYLEC - APL LIMITED (REGISTERED NUMBER: 01526036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 146,339
AMORTISATION
At 1 August 2023 87,804
Charge for year 7,317
At 31 July 2024 95,121
NET BOOK VALUE
At 31 July 2024 51,218
At 31 July 2023 58,535

HYLEC - APL LIMITED (REGISTERED NUMBER: 01526036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS
Improvements
Leasehold to Plant and
improvements property machinery
£    £    £   
COST
At 1 August 2023 67,811 - 496,494
Additions - - -
Disposals - - (19,582 )
At 31 July 2024 67,811 - 476,912
DEPRECIATION
At 1 August 2023 67,811 - 366,872
Charge for year - - 28,757
Eliminated on disposal - - (4,895 )
At 31 July 2024 67,811 - 390,734
NET BOOK VALUE
At 31 July 2024 - - 86,178
At 31 July 2023 - - 129,622

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 August 2023 233,845 65,121 863,271
Additions 25,122 25,799 50,921
Disposals - - (19,582 )
At 31 July 2024 258,967 90,920 894,610
DEPRECIATION
At 1 August 2023 214,624 42,154 691,461
Charge for year 11,086 12,191 52,034
Eliminated on disposal - - (4,895 )
At 31 July 2024 225,710 54,345 738,600
NET BOOK VALUE
At 31 July 2024 33,257 36,575 156,010
At 31 July 2023 19,221 22,967 171,810

HYLEC - APL LIMITED (REGISTERED NUMBER: 01526036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023
and 31 July 2024 40,224
DEPRECIATION
At 1 August 2023 30,679
Charge for year 2,386
At 31 July 2024 33,065
NET BOOK VALUE
At 31 July 2024 7,159
At 31 July 2023 9,545

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 721,410 1,047,684
Amounts owed by group undertakings 277,000 277,000
Other debtors 243,685 120,195
1,242,095 1,444,879

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 559
Trade creditors 330,756 609,089
Amounts owed to group undertakings 43,629 2,344
Taxation and social security 212,845 213,785
Other creditors 113,577 151,609
700,807 977,386



8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 559

HYLEC - APL LIMITED (REGISTERED NUMBER: 01526036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

9. RELATED PARTY DISCLOSURES

Included in creditors amounts falling due within one year, is a balance of £Nil (2023: £24,951) due to Mr A Hatter, who has a beneficial interest in the parent company.

Included creditors amounts falling due within one year, is a balance due to the parent company Hylec Holdings Limited of £43,629 (2023: £2,344). The loan is interest free.to

Included in debtors amounts falling due within one year, is a balance due from the fellow subsidiary company Hylec Properties Limited of £277,000 (2023: £277,000). The loan is interest free.

10. ULTIMATE CONTROLLING PARTY

During the current and prior year the company was under the control of Mr A Hatter by virtue of his shareholdings in the Parent company.