REGISTERED NUMBER: 04911624 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

APEX UK SALES LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Property, plant and equipment

5

64,969

46,701

CURRENT ASSETS

Debtors

6

66,988

52,154

Cash at bank

9,034

11,945

76,022

64,099

CREDITORS

Amounts falling due within one year

7

51,699

32,595

NET CURRENT ASSETS

24,323

31,504

TOTAL ASSETS LESS CURRENT LIABILITIES

89,292

78,205

CREDITORS

Amounts falling due after more than one year

8

40,165

30,756

NET ASSETS

49,127

47,449

CAPITAL AND RESERVES

Called up share capital

10

101

101

Retained earnings

49,026

47,348

SHAREHOLDERS' FUNDS

49,127

47,449

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:

Dr R Van Cuijk - Director

1.	STATUTORY INFORMATION

Apex UK Sales Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04911624 and the registered office address is 7 Marconi Gate, Staffordshire Technology Park, Stafford, Staffordshire, ST18 0FZ.

The principal activity during the year was that of of selling agents for printing materials.

The presentation of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to taxation and revenue recognition are its critical accounting policies.

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partly completed at the balance sheet date, turnover represents the value of services provided to date based on a proportion of the total expected consideration at completion. Where payments are received in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The company has a net asset and net current asset Balance Sheet position and does not heavily rely on external funding. The parent company continues to fully support Apex UK Sales Ltd.

The company has continued to prepare the accounts on a going concern basis and deem this appropriate. The directors do not consider that a material uncertainty about the going concern status currently exists. In making this assessment they have considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

77,005

3,018

80,023

Additions

35,995

-

35,995

At 31 December 2024

113,000

3,018

116,018

DEPRECIATION

At 1 January 2024

30,973

2,349

33,322

Charge for year

17,507

220

17,727

At 31 December 2024

48,480

2,569

51,049

NET BOOK VALUE

At 31 December 2024

64,520

449

64,969

At 31 December 2023

46,032

669

46,701

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

77,005

Additions

35,995

At 31 December 2024

113,000

DEPRECIATION

At 1 January 2024

30,973

Charge for year

17,507

At 31 December 2024

48,480

NET BOOK VALUE

At 31 December 2024

64,520

At 31 December 2023

46,032

6.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

8,212

3,649

Other debtors

16,005

1,000

Directors' current accounts

-

12,194

Tax

16,024

15,954

S455 taxation

99

-

VAT

2,890

3,411

Accruals

15,338

9,504

Prepayments

5,450

3,373

64,018

49,085

Amounts falling due after more than one year:

S455 taxation

2,970

3,069

Aggregate amounts

66,988

52,154

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

20,483

12,253

Trade creditors

3,577

2,225

Social security and other taxes

10,889

8,285

Amounts owing to parent

company

1,412

328

Accrued expenses

15,338

9,504

51,699

32,595

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

40,165

30,756

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

60,648

43,009

The Hire Purchase liability is secured by a charge over the assets to which it relates.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

101

Ordinary

£1

101

101

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adele Lawton (Senior Statutory Auditor)

for and on behalf of Lawton Bradford Accountants Ltd

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr N A Harvey ceased to be a director on 1 November 2023 and the loan outstanding of £12,194 was transferred to Other Debtors.

13.	RELATED PARTY DISCLOSURES

As at the 31 December 2024, £1,412 (2023: £328) was due to and £2,887.14 (2023: £3,649.28) due from Apex Europe BV, the parent company.

As at 31 December 2024, £2,969.24 (2023: £Nil) was due from Apex North America LLC, a wholly owned subsidiary of Apex Europe BV.

14.	CONTROLLING PARTY

The controlling party is Apex Europe B.V..

The immediate parent company is Apex Europe B.V. a company registered in the Netherlands. The registered office is Metaalweg 8, 5527 AK Hapert, The Netherlands.The results of Apex UK Sales Limited are included in the group accounts of Apex Beheer B.V., a company registered in The Netherlands and ultimate parent of Apex Europe B.V. The registered office is Metaalweg 8, 5527 AK Hapert, The Netherlands.

The consolidated accounts represent the smallest group for which group accounts are prepared.