Apex_Fluid_Engineering_Ltd_31_Jan_2025_companies_house_set_of

Apex Fluid Engineering Ltd

Abridged Statement of Financial Position

31 January 2025

		2025		2024
	Note	£		£
Fixed assets
Intangible assets	4	37,554		22,080
Tangible assets	4	1,033,919		819,980
		1,071,473		842,060
Current assets
Stocks		1,199,654		977,811
Debtors	5	2,556,893		2,913,234
Cash at bank and in hand		81,288		232,943
		3,837,835		4,123,988
Creditors: amounts falling due within one year		(1,210,213	)	(1,499,990	)
Net current assets		2,627,622		2,623,998
Total assets less current liabilities		3,699,095		3,466,058
Creditors: amounts falling due after more than one year		(334,509	)	(493,975	)
Net assets		3,364,586		2,972,083
Capital and reserves
Called up share capital		10		10
Profit and loss account		3,364,576		2,972,073
Shareholders funds		3,364,586		2,972,083

For the year ending

31 January 2025

, 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 abridged financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.

All of the members have consented to the preparation of the abridged statement of financial position for the year ended

31 January 2025

in accordance with Section 444(2A) of the Companies Act 2006.

These

abridged 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.

These

abridged financial statements

were approved by the board of directors and authorised for issue on

16 April 2025

, and are signed on behalf of the board by:

Mr Andrew Simpson

Director

Company registration number:

02189688

Apex Fluid Engineering Ltd

Notes to the Abridged Financial Statements

Year ended

31 January 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Unit 4 Morley Road

Staple Hill

Bristol

Gloucestershire

BS16 4QT

, United Kingdom.

2 Accounting policies

Basis of preparation

The

abridged financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

abridged financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery	15% straight line
Land and buildings	10% reducing balance
Fixtures and fittings	15% straight line
Office equipment	15% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

3 Average number of employees

The average number of persons employed by the company during the year was

(2024:

23.00

4 Fixed assets

	Intangible assets		Tangible assets	Total
	£		£	£
Cost
At 1 February 2024	149,980		1,490,732	1,640,712
Additions	22,260		371,274	393,534
Disposals	(159	)	-	(159	)
At 31 January 2025	172,081		1,862,006	2,034,087
Amortisation and depreciation
At 1 February 2024	127,900		670,752	798,652
Charge	6,627		157,335	163,962
At 31 January 2025	134,527		828,087	962,614
Carrying amount
At 31 January 2025	37,554		1,033,919	1,071,473
At 31 January 2024	22,080		819,980	842,060

5 Debtors

Debtors include amounts of £

1,780,956

(2024: £

2,913,234

) falling due after more than one year.