COMPANY REGISTRATION NUMBER:
05581079
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position (continued) |
|
31 December 2024
Capital and reserves
|
Called up share capital |
|
100 |
100 |
|
Profit and loss account |
|
3,578 |
3,578 |
|
|
------- |
------- |
|
Shareholders funds |
|
3,678 |
3,678 |
|
|
------- |
------- |
|
|
|
|
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 income statement has not been delivered.
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
29 August 2025
, and are signed on behalf of the board by:
Company registration number:
05581079
|
Notes to the Financial Statements |
|
Year ended 31 December 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 Unit 1 Wharfedale Business Park, Shetcliffe Lane, Bradford, West Yorkshire, BD4 9RW.
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 going concern basis, due to the continued support of it's group companies.
Employee ownership trust
The Applelec Employee Ownership Trust has been established with the object of ensuring that shares in the company are held by the trustee for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business.
Going concern
The Directors confirm that, after reviewing expenditure commitments, expected cash flows and borrowing facilities, they have a reasonable expectation that the Company has adequate resources to continue in operational existence for the next financial year and the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Investments
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
30,200 |
|
-------- |
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Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
-------- |
|
|
|
Carrying amount |
|
|
At 31 December 2024 |
30,200 |
|
-------- |
|
At 31 December 2023 |
30,200 |
|
-------- |
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Other debtors |
100 |
100 |
|
---- |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
13,616 |
13,616 |
|
Other creditors |
|
|
|
Other creditors |
106 |
106 |
|
-------- |
-------- |
|
26,622 |
26,622 |
|
-------- |
-------- |
|
|
|
7.
Directors' advances, credits and guarantees
There are no transactions to disclose.
8.
Controlling party
The company is controlled by Applelec Trustees Limited, being the trustee of The Applelec Employee Ownership Trust.