REGISTERED NUMBER: 06760085 (England and Wales)

Financial Statements

for the Year Ended 31st December 2024

for

APITS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A Palmer

J Moss

P A Lavelle

A Bridge

SECRETARY:

P A Lavelle

REGISTERED OFFICE:

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

REGISTERED NUMBER:

06760085 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alasdair Weaks

AUDITORS:

TC Group

Statutory Auditor

Office: Croydon - TC SWP

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

FIXED ASSETS

Intangible assets

4

24,600

37,184

Property, plant and equipment

5

9,598

4,380

Investments

6

646,256

646,256

680,454

687,820

CURRENT ASSETS

Debtors

7

543,232

441,300

Cash at bank and in hand

868,563

1,026,727

1,411,795

1,468,027

CREDITORS

Amounts falling due within one year

8

1,073,711

1,155,901

NET CURRENT ASSETS

338,084

312,126

TOTAL ASSETS LESS CURRENT LIABILITIES

1,018,538

999,946

PROVISIONS FOR LIABILITIES

2,400

1,095

NET ASSETS

1,016,138

998,851

CAPITAL AND RESERVES

Called up share capital

10

477,100

477,100

Retained earnings

539,038

521,751

SHAREHOLDERS' FUNDS

1,016,138

998,851

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th September 2025 and were signed on its behalf by:

J Moss - Director

1.	STATUTORY INFORMATION

APITS 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. The address of its principal place of business is 5a New Road, Croxley Green, Rickmansworth, WD3 3EJ.

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.

Preparation of consolidated financial statements

The financial statements contain information about APITS Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

Revenue represents net invoiced sales of services that have been performed at the accounting date.

Exhibition revenue

Exhibition revenue is recognised in the period that the exhibition takes place.

Website revenue

Revenue from a contract to provide listing and advertising services is recognised from the signing of the contract as from this point the following conditions are satisfied:

-

the amount of turnover can be measured reliably;

-

it is probable that the company will receive the consideration due under the contract; and

-

the stage of completion of the service at the end of the reporting period can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of four 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.

Website development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Fixtures and fittings

- 20% on cost

Computer equipment

- 33% on cost

Gains and losses on disposals are determined by comparing the proceeds with the carrying amounts and are recognised in the Statement of Comprehensive Income.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Hire purchase and leasing commitments

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

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Provisions for liabilities

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st January 2024

190,098

45,586

235,684

Additions

-

3,901

3,901

At 31st December 2024

190,098

49,487

239,585

AMORTISATION

At 1st January 2024

190,098

8,402

198,500

Charge for year

-

16,485

16,485

At 31st December 2024

190,098

24,887

214,985

NET BOOK VALUE

At 31st December 2024

-

24,600

24,600

At 31st December 2023

-

37,184

37,184

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2024

757

38,408

39,165

Additions

857

8,100

8,957

Disposals

(150

)

-

(150

)

At 31st December 2024

1,464

46,508

47,972

DEPRECIATION

At 1st January 2024

517

34,268

34,785

Charge for year

114

3,475

3,589

At 31st December 2024

631

37,743

38,374

NET BOOK VALUE

At 31st December 2024

833

8,765

9,598

At 31st December 2023

240

4,140

4,380

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2024

and 31st December 2024

646,256

NET BOOK VALUE

At 31st December 2024

646,256

At 31st December 2023

646,256

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

248,301

147,501

Amounts owed by group undertakings

11,875

24,794

Other debtors

8,918

16,649

Tax

19,640

18,889

VAT

23,042

25,566

Prepayments and accrued income

231,456

207,901

543,232

441,300

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

135,378

17,366

Tax

157,128

168,163

Social security and other taxes

48,912

28,424

Other creditors

12,292

30,800

Accruals and deferred income

720,001

911,148

1,073,711

1,155,901

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

6,000

6,000

Between one and five years

4,000

10,000

10,000

16,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

477,100

Ordinary

1

477,100

477,100

11.	AUDITOR'S INFORMATION

The audit report provided to the members of APITS Limited on the financial statements for the year ended 31st December 2024 was not qualified.

The audit report was signed by Alasdair Weaks (Senior Statutory Auditor) for and on behalf of TC Group, Statutory Auditor.