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Registered number: 14654629










PLAN APEX LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2025

 
PLAN APEX LIMITED
REGISTERED NUMBER: 14654629

BALANCE SHEET
AS AT 28 FEBRUARY 2025

28 February
29 February
2025
2024
Note
£
£

Fixed assets
  

Investment property
 4 
3,526,332
3,526,332

  
3,526,332
3,526,332

Current assets
  

Debtors: amounts falling due within one year
 5 
-
4,656

Cash at bank and in hand
 6 
133,322
49,962

  
133,322
54,618

Creditors: amounts falling due within one year
 7 
(449,845)
(337,714)

Net current liabilities
  
 
 
(316,523)
 
 
(283,096)

Total assets less current liabilities
  
3,209,809
3,243,236

Creditors: amounts falling due after more than one year
 8 
(3,550,942)
(3,435,777)

  

Net liabilities
  
(341,133)
(192,541)


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
(341,333)
(192,741)

  
(341,133)
(192,541)


Page 1

 
PLAN APEX LIMITED
REGISTERED NUMBER: 14654629
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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: 




G Li
Director

Date: 2 May 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PLAN APEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1.


General information

Plan Apex Limited (14654629) is a private company limited by shares and incorporated in England and Wales. The registered office is Simorg, Warren Road, Kingston Upon Thames, KT2 7HY. 

2.Accounting policies

 
2.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents rents and service charges receivable recognised in the period in which the services are provided in accordance with the rental agreement. Rent receivable is invoiced monthly at the beginning of the month for which the rental income relates. 

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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.


 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
PLAN APEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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 equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Page 4

 
PLAN APEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).


4.


Investment property





Freehold investment property

£



Valuation


At 1 March 2024
3,526,332



At 28 February 2025
3,526,332

The 2025 valuations were made by the directors, on an open market value for existing use basis.






Page 5

 
PLAN APEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

5.


Debtors

28 February
29 February
2025
2024
£
£


Prepayments and accrued income
-
4,656

-
4,656



6.


Cash and cash equivalents

28 February
29 February
2025
2024
£
£

Cash at bank and in hand
133,322
49,962



7.


Creditors: Amounts falling due within one year

28 February
29 February
2025
2024
£
£

Other loans
-
115,166

Corporation tax
18,177
4,766

Accruals and deferred income
431,668
217,782

449,845
337,714



8.


Creditors: Amounts falling due after more than one year

28 February
29 February
2025
2024
£
£

Other loans
3,550,942
3,435,777


Page 6

 
PLAN APEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

9.


Loans


Analysis of the maturity of loans is given below:


28 February
29 February
2025
2024
£
£

Amounts falling due within one year

Other loans
-
115,166

Amounts falling due 1-2 years

Other loans
-
115,166

Amounts falling due 2-5 years

Other loans
-
345,497

Amounts falling due after more than 5 years

Other loans
3,550,942
2,975,114

3,550,942
3,550,943



10.


Financial instruments

28 February
29 February
2025
2024
£
£

Financial assets


Financial assets measured at fair value through profit or loss
133,322
49,962




Financial assets measured at fair value through profit or loss comprise...


11.


Related party transactions

Included within other loans is £3,550,942 (2024: £3,550,942) due to the directors of the company. Interest is charged on this at 6%.

 
Page 7