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COMPANY REGISTRATION NUMBER: 10376508
Applican Limited
Filleted Unaudited Financial Statements
30 September 2024
Applican Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Applican Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
£
Current assets
Stocks
3,100
810
Debtors
5
18,978
20,941
Cash at bank and in hand
775
828
--------
--------
22,853
22,579
Creditors: amounts falling due within one year
6
70,209
68,964
--------
--------
Net current liabilities
47,356
46,385
--------
--------
Total assets less current liabilities
( 47,356)
( 46,385)
Creditors: amounts falling due after more than one year
7
12,231
22,435
--------
--------
Net liabilities
( 59,587)
( 68,820)
--------
--------
Capital and reserves
Called up share capital
8
200
200
Profit and loss account
( 59,787)
( 69,020)
--------
--------
Shareholders deficit
( 59,587)
( 68,820)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Applican Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 20 June 2025 , and are signed on behalf of the board by:
Mr A J Collins
Director
Company registration number: 10376508
Applican Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Station Road, Watford, WD17 1EG, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The going concern basis has been used. The directors expect the major creditors, because of the nature of their relationship with the company, to continue with their support for at least twelve months from the date of approval of the financial statements. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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 stock to its present location and condition.
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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Debtors
2024
2023
£
£
Trade debtors
18,978
20,382
Prepayments and accrued income
559
--------
--------
18,978
20,941
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,204
9,952
Trade creditors
990
1,929
Accruals and deferred income
2,000
2,000
Social security and other taxes
11,095
7,560
Director loan accounts
992
Other creditors
45,920
46,531
--------
--------
70,209
68,964
--------
--------
The bank loans and overdrafts amount relates to a Bounce Back loan which is secured by a government guarantee.
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,231
22,435
--------
--------
The bank loans and overdrafts amount relates to a Bounce Back loan which is secured by a government guarantee.
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
200
200
200
200
----
----
----
----
9. Related party transactions
Transactions with related parties, such as are required to be disclosed under FRS 102 were as follows:
20242023
££
Other related parties:
Balances owed by/(owed to):(45,739)(45,739)
----------------
The amounts owed by/(owed to) related parties are in respect of short term interest free loans.