Apex Motor Parts (Hereford) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04351888 (England and Wales)

Apex Motor Parts (Hereford) Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Fish

R D Fish

Mrs E C Griffiths

SECRETARY:

Mrs E C Griffiths

REGISTERED OFFICE:

47 Weeping Cross Lane

Ludlow

SHROPSHIRE

SY8 1JH

REGISTERED NUMBER:

04351888 (England and Wales)

ACCOUNTANTS:

Streets Dyke Ruscoe Ltd

110 Corve Street

Ludlow

SHROPSHIRE

SY8 1DJ

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

305,465

80,442

305,465

80,442

CURRENT ASSETS

Stocks

258,006

258,679

Debtors

6

578,242

595,763

Cash at bank and in hand

446,848

286,480

1,283,096

1,140,922

CREDITORS

Amounts falling due within one year

7

703,165

479,016

NET CURRENT ASSETS

579,931

661,906

TOTAL ASSETS LESS CURRENT
LIABILITIES

885,396

742,348

PROVISIONS FOR LIABILITIES

13,398

16,953

NET ASSETS

871,998

725,395

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

871,898

725,295

SHAREHOLDERS' FUNDS

871,998

725,395

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 31 August 2025 and were signed on its behalf by:

R Fish - Director

R D Fish - Director

Mrs E C Griffiths - Director

1.	STATUTORY INFORMATION

Apex Motor Parts (Hereford) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

129,999

AMORTISATION

At 1 January 2024

and 31 December 2024

129,999

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST

At 1 January 2024

-

1,375

16,272

Additions

240,000

-

510

Disposals

-

At 31 December 2024

240,000

1,375

16,782

DEPRECIATION

At 1 January 2024

-

1,312

12,283

Charge for year

-

13

444

Eliminated on disposal

-

At 31 December 2024

-

1,325

12,727

NET BOOK VALUE

At 31 December 2024

240,000

50

4,055

At 31 December 2023

-

63

3,989

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 January 2024

107,500

25,759

150,906

Additions

9,500

-

250,010

Disposals

(19,449

)

-

(19,449

)

At 31 December 2024

97,551

25,759

381,467

DEPRECIATION

At 1 January 2024

32,287

24,582

70,464

Charge for year

13,489

599

14,545

Eliminated on disposal

(9,007

)

-

(9,007

)

At 31 December 2024

36,769

25,181

76,002

NET BOOK VALUE

At 31 December 2024

60,782

578

305,465

At 31 December 2023

75,213

1,177

80,442

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

558,546

582,163

Other debtors

6,883

7,255

Prepayments

12,813

6,345

578,242

595,763

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

299,512

336,856

Tax

52,423

60,580

Social security and other taxes

11,952

11,600

VAT

47,460

18,911

Other creditors

287,083

46,454

Directors' current accounts

495

Accrued expenses

4,240

4,120

703,165

479,016

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

No repayment terms have been set for the loan included within creditors and no interest has been charged by the directors.