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Registration number: 03570589

Appstation Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Appstation Limited

(Registration number: 03570589)

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

-

-

Tangible assets

4

-

-

 

-

-

Current assets

 

Debtors

5

110,295

19,333

Cash at bank and in hand

 

484,644

366,229

 

594,939

385,562

Creditors: Amounts falling due within one year

6

(188,411)

(196,423)

Net current assets

 

406,528

189,139

Net assets

 

406,528

189,139

Capital and reserves

 

Called up share capital

7

284

284

Capital redemption reserve

146

146

Retained earnings

406,098

188,709

Shareholders' funds

 

406,528

189,139

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

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 15 April 2025 and signed on its behalf by:
 

.........................................

K F S Wells

Director

 

Appstation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

Accounting policies

Statutory information

Appstation Limited is a private company, limited by shares, domiciled in England and Wales, company number 03570589. The registered office is at 35 Jessops Riverside, 800 Brightside Lane, Sheffield, S9 2RX.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Revenue is recognised upon the sale of goods or upon delivery of services to customers.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Intangible assets

Intangible assets are identifiable non-monetary assets without physical substance under the control of the entity, Their recognition in the statement of financial position is a result of past events by which the entity will experience future economic benefits.

 

Appstation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

1

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents and licences

10% on a straight line basis

Development costs

50% on a straight line basis

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, less any estimated residual value, over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% on a reducing balance basis

Computer equipment

50% on a straight line basis

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 7).

 

Appstation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Intangible assets

Patents and licenses
 £

Development costs
 £

Total
£

Cost

At 1 January 2024

32,348

9,426

41,774

At 31 December 2024

32,348

9,426

41,774

Amortisation

At 1 January 2024

32,348

9,426

41,774

At 31 December 2024

32,348

9,426

41,774

Carrying amount

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost

At 1 January 2024

3,776

7,313

11,089

At 31 December 2024

3,776

7,313

11,089

Depreciation

At 1 January 2024

3,776

7,313

11,089

At 31 December 2024

3,776

7,313

11,089

Carrying amount

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

 

Appstation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Debtors

2024
£

2023
£

Trade debtors

3,875

13,238

Prepayments

6,749

6,045

Other debtors

99,671

50

 

110,295

19,333

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

23,330

11,013

Taxation and social security

144,874

151,751

Accruals and deferred income

19,707

33,159

Other creditors

500

500

188,411

196,423

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary shares of £1 each

142

142

142

142

C Ordinary shares of £1 each

142

142

142

142

284

284

284

284

 

Appstation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Financial commitments, guarantees and contingencies

Operating leases

As at the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaining term of those leases of £30,692 (2023 - £69,473).

9

Related party transactions

Summary of transactions with other related parties

Included in other debtors are amounts of £99,621 (2023 : £nil) which are loans due from the directors and shareholders. The loans made were interest free and are repayable on demand.