REGISTERED NUMBER: 03960619 (England and Wales)

A.P.I. Engineering Limited

Unaudited Financial Statements

For The Period

1st January 2024 to 30th September 2024

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

6

FIXED ASSETS

Tangible assets

4

41,813

31,975

Investments

5

49,034

49,034

90,847

81,009

CURRENT ASSETS

Debtors

6

3,804,199

1,315,545

Cash at bank

259,854

1,117,832

4,064,053

2,433,377

CREDITORS

Amounts falling due within one year

7

2,217,485

1,480,819

NET CURRENT ASSETS

1,846,568

952,558

TOTAL ASSETS LESS CURRENT LIABILITIES

1,937,415

1,033,567

PROVISIONS FOR LIABILITIES

363,564

344,186

NET ASSETS

1,573,851

689,381

CAPITAL AND RESERVES

Called up share capital

90,000

90,000

Capital redemption reserve

9,427

9,427

Retained earnings

1,474,424

589,954

SHAREHOLDERS' FUNDS

1,573,851

689,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th September 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 24th September 2025 and were signed on its behalf by:

Dr M J Robinson - Director

1.	STATUTORY INFORMATION

A.P.I. Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03960619

Registered office:

44 Rose Lane

Norwich

Norfolk

NR1 1PN

The company has shortened the accounting period for commercial reasons.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

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 cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% - 50% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Revenue recognition

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

56,834

4,208

16,995

69,013

147,050

Additions

-

-

18,830

8,576

27,406

Disposals

(5,911

)

(1,002

)

-

(38,574

)

(45,487

)

At 30th September 2024

50,923

3,206

35,825

39,015

128,969

DEPRECIATION

At 1st January 2024

45,926

4,041

7,536

57,572

115,075

Charge for period

2,143

64

2,537

11,340

16,084

Eliminated on disposal

(5,704

)

(906

)

-

(37,393

)

(44,003

)

At 30th September 2024

42,365

3,199

10,073

31,519

87,156

NET BOOK VALUE

At 30th September 2024

8,558

7

25,752

7,496

41,813

At 31st December 2023

10,908

167

9,459

11,441

31,975

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2024

and 30th September 2024

49,034

NET BOOK VALUE

At 30th September 2024

49,034

At 31st December 2023

49,034

Shares in participating interests represent a 100% holding in the ordinary share capital of API Engineering (Shijiazhuang) Limited, a company incorporated in China in 2009.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,145,942

296,259

Other debtors

2,658,257

1,019,286

3,804,199

1,315,545

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,913,196

1,321,063

Taxation and social security

108,858

106,339

Other creditors

195,431

53,417

2,217,485

1,480,819

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

API Stone Limited, a company in which T C Baggott, D M Robinson and M J Robinson are all directors and in which D M Robinson and M J Robinson own 40% of the allotted share capital. During the year the company made sales of £10,255 (2023: £9,000) to API Stone Limited, the balance in debtors at the year end was £nil (2023: £nil). During the year API Stone Ltd made loan repayments against the intercompany loan, at the year end the company was owed £34,285 (2023: owed £50,596) by API Stone Ltd.

PPI Engineering Limited, a company in which API Holdings Ltd own 40% of the allotted share capital. M J Robinson is also a director of PPI Engineering Limited. During the year the company made sales of £19,522 (2023: £58,953), the balance in debtors at the year end was £nil (2023: £nil). The company also made purchases of £14,843 (2023: £5,903), the balance in creditors at the year end was £nil (2023: £nil). During the year the company loaned amounts to PPI Engineering Limited, at the year end the company was owed £173,964 (2023: £124,078).

MY Sofa Covers Ltd, a company in which M J Robinson is a director and in which T C Baggot owns 17% of the allotted share capital. API Engineering Ltd loaned amounts to MY Sofa Covers and at the year end the company was owed £48,655 (2023: £49,278).

9.	ULTIMATE CONTROLLING PARTY

At the year end the company was controlled by its parent company, API Holdings Limited.