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Registered Number: 12107082
England and Wales

 

 

 

APL PROPERTY SOLUTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 192,063    117,434 
192,063    117,434 
Current assets      
Debtors 4 64,275    64,418 
Cash at bank and in hand 7,319    4,742 
71,594    69,160 
Creditors: amount falling due within one year 5 (4,705)  
Net current assets 66,889    69,160 
 
Total assets less current liabilities 258,952    186,594 
Creditors: amount falling due after more than one year 6 (167,027)   (172,585)
Net assets 91,925    14,009 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 91,825    13,909 
Shareholders' funds 91,925    14,009 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 April 2025 and were signed on its behalf by:


-------------------------------
Noel McCallum
Director
1
General Information
APL Property Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 12107082, registration address 89 John Street, Stanley, Durham, DH9 0QP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the amount charged to tenants in respect of rent.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment Properties 2% Straight Line
Fixtures and Fittings 20% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Investment Properties   Fixtures and Fittings   Total
  £   £   £
At 01 August 2023 117,434      117,434 
Additions   2,036    2,036 
Disposals    
Revaluations 73,000      73,000 
At 31 July 2024 190,434    2,036    192,470 
Depreciation
At 01 August 2023    
Charge for year   407    407 
On disposals    
At 31 July 2024   407    407 
Net book values
Closing balance as at 31 July 2024 190,434    1,629    192,063 
Opening balance as at 01 August 2023 117,434      117,434 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 6,562    2,612 
Directors' Current Accounts 57,713    61,806 
64,275    64,418 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 676   
PAYE & Social Security 41   
VAT 3,988   
4,705   

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 33,330    38,888 
Mortgage - 10 Windermere 66,806    66,806 
Mortgage - 67 Parkside 66,891    66,891 
167,027    172,585 

7.

Directors advances, credits and guarantees

Included in debtors: are amounts owed to the company from the directors of £57,713 (2023: £61,806).
8.

Controlling party

For the whole of the period under review the company was under the control of Noel & Debra McCallum.
2