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Registered number: 09913418
AP Mechanical Engineering Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09913418
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 502,052 74,992
502,052 74,992
CURRENT ASSETS
Stocks 5 20,000 20,000
Debtors 6 163,495 260,288
Cash at bank and in hand - 22,425
183,495 302,713
Creditors: Amounts Falling Due Within One Year 7 (129,918 ) (123,559 )
NET CURRENT ASSETS (LIABILITIES) 53,577 179,154
TOTAL ASSETS LESS CURRENT LIABILITIES 555,629 254,146
Creditors: Amounts Falling Due After More Than One Year 8 (242,172 ) (20,876 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (30,334 ) (17,571 )
NET ASSETS 283,123 215,699
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 283,023 215,599
SHAREHOLDERS' FUNDS 283,123 215,699
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ralph Pollard
Director
27 August 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AP Mechanical Engineering Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09913418 . The registered office is Unit 25 Atlas House, West Devon Business Park, Tavistock, Devon, PL19 9DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 value added tax, returns,
rebates and discounts and after eliminating sales within the company.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 25% reducing balance
Plant & Machinery 20% straight line
Motor Vehicles 25% reducing balance
Computer Equipment 3 years straight line
2.4. Leasing and Hire Purchase Contracts
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards
of ownership to the lessee.
Assets held under hire purchase/finance leases are recognised at the lower of their fair value at inception of the lease
and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the
shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the
Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease
obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
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 corporation 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 corporation tax is recognised on temporary differences arising between the tax bases of assets and
liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the
company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively
enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up
against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to
be recovered based on current or future taxable profit.
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Page 4
2.7. Pensions
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. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 51,667 183,815 66,778 13,530 315,790
Additions 378,411 56,905 17,800 13,328 466,444
As at 31 December 2024 430,078 240,720 84,578 26,858 782,234
Depreciation
As at 1 January 2024 34,612 162,397 33,943 9,846 240,798
Provided during the period 12,237 12,918 9,904 4,325 39,384
As at 31 December 2024 46,849 175,315 43,847 14,171 280,182
Net Book Value
As at 31 December 2024 383,229 65,405 40,731 12,687 502,052
As at 1 January 2024 17,055 21,418 32,835 3,684 74,992
5. Stocks
2024 2023
£ £
Stock 20,000 20,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 139,655 145,827
Other debtors 23,840 114,461
163,495 260,288
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,694 24,739
Trade creditors 8,205 935
Bank loans and overdrafts 20,842 9,984
Other loans 23,137 -
Other creditors 17,634 1,968
Taxation and social security 53,406 85,933
129,918 123,559
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 6,694
Bank loans 4,187 14,182
Other loans 237,985 -
242,172 20,876
Hire purchase liability is denominated in £ with a nominal interest rate of 3.35%. Tha carying amount at year end is £6,694.
Amount owing on hire purchase contracts are secured on the asset to which they relate . At the year end this asset had a net book value of £6,694 (2023:£31,433)
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,694 24,739
Later than one year and not later than five years - 6,694
6,694 31,433
6,694 31,433
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Ralph Pollard (113,118 ) (160,835 ) 262,461 - (11,491 )
Interest is charged on a monthly basis in line with the HMRC recommended rate. The amount of interest charged during the year was £3,298 (2023 £1,416)
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