REGISTERED NUMBER: 05973439 (England and Wales)

API Capacitors Ltd

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

195,090

206,363

CURRENT ASSETS

Stocks

48,900

62,400

Debtors

5

1,208,887

446,672

Cash at bank and in hand

219,486

1,036,779

1,477,273

1,545,851

CREDITORS

Amounts falling due within one year

6

529,500

880,972

NET CURRENT ASSETS

947,773

664,879

TOTAL ASSETS LESS CURRENT LIABILITIES

1,142,863

871,242

PROVISIONS FOR LIABILITIES

143,943

135,417

NET ASSETS

998,920

735,825

CAPITAL AND RESERVES

Called up share capital

159,000

159,000

Retained earnings

839,920

576,825

SHAREHOLDERS' FUNDS

998,920

735,825

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

API Capacitors Ltd 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:

05973439

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.

Turnover

Turnover represents net invoiced sales of goods and services excluding value added tax.

Tangible fixed assets

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

Improvements to property

-

15% reducing balance

Plant and machinery

-

6.7% on cost

Fixtures and fittings

-

10% on cost

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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 29 (2023 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

58,321

403,482

8,133

31,653

501,589

Additions

-

4,415

16,000

-

20,415

At 30th September 2024

58,321

407,897

24,133

31,653

522,004

DEPRECIATION

At 1st January 2024

58,317

201,551

7,967

27,391

295,226

Charge for period

-

27,167

1,734

2,787

31,688

At 30th September 2024

58,317

228,718

9,701

30,178

326,914

NET BOOK VALUE

At 30th September 2024

4

179,179

14,432

1,475

195,090

At 31st December 2023

4

201,931

166

4,262

206,363

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

299,169

263,776

Other debtors

909,718

182,896

1,208,887

446,672

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

200,443

174,976

Taxation and social security

65,639

113,881

Other creditors

263,418

592,115

529,500

880,972

7.	RELATED PARTY DISCLOSURES

2024

2023

£

£

Sales to associates

90,204

28,314

Purchases from associates

8,981

99,987

Interest received on loans to associates

-

-

Loans due to associated undertakings

5,369

-

Loans due from associated undertakings

854,303

6,131

Trade debtors amounts due from associates

136,821

33,977

Trade creditors amounts due to associates

68,952

57,793

Key management personal compensation

20,627

25,149

Dividends paid to directors

-

-

Loans to associates are unsecured and at a fixed interest rate of nil%. A provision of £nil (2023: £nil) has been recognised against these loans.

8.	ULTIMATE CONTROLLING PARTY

API Holdings Limited owns 100% of the issued share capital and is deemed the ultimate controlling party.