REGISTERED NUMBER: 02997697 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

APM Commercials Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R M Gilboy

A E S Gilboy

P R Gilboy

M P Gilboy

D E Hanton

SECRETARY:

Mrs R M Gilboy

REGISTERED OFFICE:

APM House

Manby Road

Immingham

North East Lincs

DN40 2LL

REGISTERED NUMBER:

02997697 (England and Wales)

FIXED ASSETS

Tangible assets

4

14,701,220

15,213,568

CURRENT ASSETS

Stocks

519,661

648,787

Debtors

5

1,261,997

1,340,699

Cash at bank and in hand

117,281

831

1,898,939

1,990,317

CREDITORS

Amounts falling due within one year

6

4,186,003

4,139,327

NET CURRENT LIABILITIES

(2,287,064

)

(2,149,010

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,414,156

13,064,558

CREDITORS

Amounts falling due after more than one year

7

(8,146,674

)

(9,762,560

)

PROVISIONS FOR LIABILITIES

(1,416,625

)

(1,118,302

)

NET ASSETS

2,850,857

2,183,696

CAPITAL AND RESERVES

Called up share capital

1,010

1,010

Retained earnings

2,849,847

2,182,686

SHAREHOLDERS' FUNDS

2,850,857

2,183,696

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 30 September 2025 and were signed on its behalf by:

P R Gilboy - Director

1.	STATUTORY INFORMATION

APM Commercials 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 presentation currency of the financial statements is the Pound Sterling (£).

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

at rates varying between 15% and 50% pa

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Improvements to leasehold property are not depreciated, which is a departure from FRS 102.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 year was 44 (2023 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

Motor

improvements

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

668,799

17,052,166

192,453

640,349

18,553,767

Additions

-

1,868,674

1,119

13,000

1,882,793

Disposals

-

(1,876,894

)

-

(35,229

)

(1,912,123

)

At 31 December 2024

668,799

17,043,946

193,572

618,120

18,524,437

DEPRECIATION

At 1 January 2024

-

2,932,425

167,346

240,428

3,340,199

Charge for year

-

1,378,953

6,426

80,102

1,465,481

Eliminated on disposal

-

(955,310

)

-

(27,153

)

(982,463

)

At 31 December 2024

-

3,356,068

173,772

293,377

3,823,217

NET BOOK VALUE

At 31 December 2024

668,799

13,687,878

19,800

324,743

14,701,220

At 31 December 2023

668,799

14,119,741

25,107

399,921

15,213,568

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Leasehold

Plant and

Motor

improvements

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

51,920

16,820,819

542,068

17,414,807

Additions

-

1,848,139

-

1,848,139

Disposals

-

(1,876,894

)

-

(1,876,894

)

Transfer to ownership

-

(488,687

)

-

(488,687

)

At 31 December 2024

51,920

16,303,377

542,068

16,897,365

DEPRECIATION

At 1 January 2024

-

2,759,587

172,364

2,931,951

Charge for year

-

1,364,172

73,941

1,438,113

Eliminated on disposal

-

(955,310

)

-

(955,310

)

Transfer to ownership

-

(170,990

)

-

(170,990

)

At 31 December 2024

-

2,997,459

246,305

3,243,764

NET BOOK VALUE

At 31 December 2024

51,920

13,305,918

295,763

13,653,601

At 31 December 2023

51,920

14,061,232

369,704

14,482,856

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,058,141

1,096,565

Other debtors

203,856

244,134

1,261,997

1,340,699

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

69,649

Hire purchase contracts

3,305,382

2,737,859

Trade creditors

492,440

790,510

Taxation and social security

296,890

126,479

Other creditors

91,291

414,830

4,186,003

4,139,327

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

8,145,731

9,729,719

Other creditors

943

32,841

8,146,674

9,762,560

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank Loan Lloyds TSB

943

32,841

Other loans

76,202

389,545

Hire purchase contracts

11,451,113

12,467,578

11,528,258

12,889,964

The amounts due shown above are secured against the assets of the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

31.12.24

31.12.23

£

£

Opening balance

108,023

84,638

Amount withdrawn

272,470

282,385

Amount repaid

(253,450)

(259,000)

Closing balance

127,043

108,023

10.	RELATED PARTY DISCLOSURES

During the year the company had the following transactions with related parties.

31.12.24

31.12.23

£

£

Balance owing from related parties

-

59,654

The related parties are companies where either all or one of the directors also act as a director for.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs R M Gilboy.