REGISTERED NUMBER: 08895146 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE APARTMENT NETWORK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P N Marson

P J Strafford

M Isaac

REGISTERED OFFICE:

85 Great Portland Street

London

W1W 7LT

REGISTERED NUMBER:

08895146 (England and Wales)

ACCOUNTANTS:

Hillier Hopkins Accountants Limited

Trading as Colin Gray & Co

Radius House

51 Clarendon Road

Watford

Hertfordshire

WD17 1HP

FIXED ASSETS

Intangible assets

4

74,901

93,172

Tangible assets

5

3,159

5,602

78,060

98,774

CURRENT ASSETS

Debtors

6

450,783

356,405

Cash at bank

38,445

49,488

489,228

405,893

CREDITORS

Amounts falling due within one year

7

525,102

599,963

NET CURRENT LIABILITIES

(35,874

)

(194,070

)

TOTAL ASSETS LESS CURRENT LIABILITIES

42,186

(95,296

)

CAPITAL AND RESERVES

Called up share capital

8

5,690

4,892

Share premium

3,449,035

2,844,078

Capital redemption reserve

470

470

Retained earnings

(3,413,009

)

(2,944,736

)

SHAREHOLDERS' FUNDS

42,186

(95,296

)

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 29 September 2025 and were signed on its behalf by:

P J Strafford - Director

1.	STATUTORY INFORMATION

The Apartment Network 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.

The financial statements have been prepared on the going concern basis as although there was a net deficiency of assets at the balance sheet date the directors have received confirmation of continued support from the majority shareholder.

Turnover

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

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.

Goodwill and website design are both being amortised evenly over their estimated useful life of ten years.

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 etc

-

25% on 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 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 5 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

91,883

90,889

182,772

AMORTISATION

At 1 January 2024

81,615

7,985

89,600

Charge for year

9,182

9,089

18,271

At 31 December 2024

90,797

17,074

107,871

NET BOOK VALUE

At 31 December 2024

1,086

73,815

74,901

At 31 December 2023

10,268

82,904

93,172

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

15,513

Additions

117

Disposals

(142

)

At 31 December 2024

15,488

DEPRECIATION

At 1 January 2024

9,911

Charge for year

2,460

Eliminated on disposal

(42

)

At 31 December 2024

12,329

NET BOOK VALUE

At 31 December 2024

3,159

At 31 December 2023

5,602

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

30,276

279,241

Amounts owed by group undertakings

374,618

29,894

Other debtors

45,889

47,270

450,783

356,405

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

66,494

222,584

Amounts owed to group undertakings

70,000

70,000

Taxation and social security

19,478

25,646

Other creditors

369,130

281,733

525,102

599,963

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

34,033

A Ordinary shares

£0.10

3,403

2,605

22,813

B Ordinary shares

£0.10

2,281

2,281

584

C Ordinary shares

£0.01

6

6

5,690

4,892

During the year the company has raised funds through the following share issues:

7,986 A Ordinary shares at a premium of £75.75 per share.

9.	ULTIMATE CONTROLLING PARTY

The parent undertaking is PSM Group Limited, a company registered in England and Wales.

The ultimate parent undertaking is Ansor Fund I GP LLP, a limited liability partnership registered in England and Wales. The registered office address of the ultimate parent undertaking is 85 Great Portland Street, London, W1W 7LT.

The directors do not consider there to be an ultimate controlling party.