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Registration number: 01851040

A.P.H. Industries Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 December 2024

 

A.P.H. Industries Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

A.P.H. Industries Limited

Company Information

Directors

Mr K P Thurlow

Mrs R A Kennington

Company secretary

Mrs R A Kennington

Registered office

Anderson Works
Tongue Lane
Fairfield
Buxton
Derbyshire
SK17 7LN

 

A.P.H. Industries Limited

(Registration number: 01851040)
Balance Sheet as at 30 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

251,690

261,340

Current assets

 

Stocks

6

407,031

417,425

Debtors

7

1,044,867

1,146,765

Cash at bank and in hand

 

52,111

112,562

 

1,504,009

1,676,752

Creditors: Amounts falling due within one year

8

(486,791)

(596,192)

Net current assets

 

1,017,218

1,080,560

Total assets less current liabilities

 

1,268,908

1,341,900

Creditors: Amounts falling due after more than one year

8

(45,483)

(73,321)

Provisions for liabilities

(12,794)

(9,353)

Net assets

 

1,210,631

1,259,226

Capital and reserves

 

Called up share capital

9

19,529

19,529

Share premium reserve

58,047

58,047

Capital redemption reserve

7,524

7,524

Revaluation reserve

6,467

8,082

Retained earnings

1,119,064

1,166,044

Shareholders' funds

 

1,210,631

1,259,226

For the financial year ending 30 December 2024 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 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.

 

A.P.H. Industries Limited

(Registration number: 01851040)
Balance Sheet as at 30 December 2024

These financial statements 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 June 2025 and signed on its behalf by:
 

.........................................
Mr K P Thurlow
Director

.........................................
Mrs R A Kennington
Company secretary and director

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Anderson Works
Tongue Lane
Fairfield
Buxton
Derbyshire
SK17 7LN

These financial statements were authorised for issue by the Board on 2 June 2025.

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 of the financial statements is the Pound Sterling (£), rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

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:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 13).

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 31 December 2023

151,970

151,970

At 30 December 2024

151,970

151,970

Amortisation

At 31 December 2023

151,970

151,970

At 30 December 2024

151,970

151,970

Carrying amount

At 30 December 2024

-

-

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 31 December 2023

477,481

217,824

440,638

122,388

17,913

Additions

-

298

18,273

-

-

At 30 December 2024

477,481

218,122

458,911

122,388

17,913

Depreciation

At 31 December 2023

266,981

214,273

424,999

90,738

17,913

Charge for the year

11,420

1,094

3,467

12,240

-

At 30 December 2024

278,401

215,367

428,466

102,978

17,913

Carrying amount

At 30 December 2024

199,080

2,755

30,445

19,410

-

At 30 December 2023

210,500

3,551

15,639

31,650

-

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

Total
£

Cost or valuation

At 31 December 2023

1,276,244

Additions

18,571

At 30 December 2024

1,294,815

Depreciation

At 31 December 2023

1,014,904

Charge for the year

28,221

At 30 December 2024

1,043,125

Carrying amount

At 30 December 2024

251,690

At 30 December 2023

261,340

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

6

Stocks

2024
£

2023
£

Raw materials and consumables

228,866

160,971

Finished goods and goods for resale

178,165

256,454

407,031

417,425

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

286,846

400,110

Amounts owed by related parties

12

729,126

729,126

Prepayments

 

17,467

17,529

Other debtors

 

11,428

-

   

1,044,867

1,146,765

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

154,293

215,526

Trade creditors

 

212,402

274,477

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

13,052

13,052

Taxation and social security

 

15,452

17,304

Accruals and deferred income

 

35,732

26,399

Other creditors

 

55,860

49,434

 

486,791

596,192

The bank loans and borrowings are secured on all the assets of the company.

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

45,483

73,321

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

84

84

84

84

Ordinary of £1 each

19,445

19,445

19,445

19,445

19,529

19,529

19,529

19,529

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(1,615)

(1,615)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(1,615)

(1,615)

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

45,483

73,321

Current loans and borrowings

2024
£

2023
£

Bank borrowings

26,450

26,450

Other borrowings

127,843

189,076

154,293

215,526

12

Related party transactions

 

A.P.H. Industries Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

196,575

174,636

Contributions paid to money purchase schemes

20,358

26,182

216,933

200,818

Other transactions with directors

Included in Other creditors are loans from the director K P Thurlow of £55,860 (2023 - £49,434).

Summary of transactions with other related parties

Associated company transactions

 The company has a loan with its Employee Benefit Trust and at the year end it was owed £1,455 (2023 - £1,455).

In addition the company traded with W. W. Laycock & Sons Limited, a company owned by the Employee Benefit Trust. There remains a loan outstanding of £13,052 (2023 - £13,052).

Included in debtors is an amount due from Laycock Ho;dings Limited, the holding company of W. W. Laycock & Sons Limited of £1,295 (2023 - £1,295).

The company traded with Merridale Laycock Limited during the year, a company associated via common directors. Sales for the year totalled £11,488 (2023 - £6,924) and purchase totalled £153,861 (2023 - £175,018). At the year end, included in trade debtors is an amount due of £1,242 (2023 - £715) and included in trade creditors is an an amount owed of £33,385 (2023 - £38,128)