REGISTERED NUMBER: 04938832 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

APEX BRICKCUTTERS LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J I McMichael

Mrs J A McMichael

SECRETARY:

Mrs J A McMichael

REGISTERED OFFICE:

Aruna House

2 Kings Road

Haslemere

Surrey

GU27 2QA

REGISTERED NUMBER:

04938832 (England and Wales)

ACCOUNTANTS:

A & N (Haslemere) Limited

Aruna House

2 Kings Road

Haslemere

Surrey

GU27 2QA

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the adaption of bricks.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

J I McMichael

Mrs J A McMichael

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

J I McMichael - Director

29 September 2025

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

166,915

155,162

166,915

155,162

CURRENT ASSETS

Debtors

5

253,188

255,545

Cash at bank and in hand

397,193

570,922

650,381

826,467

CREDITORS

Amounts falling due within one year

6

215,537

283,015

NET CURRENT ASSETS

434,844

543,452

TOTAL ASSETS LESS CURRENT LIABILITIES

601,759

698,614

CREDITORS

Amounts falling due after more than one year

7

(24,511

)

(42,748

)

PROVISIONS FOR LIABILITIES

(41,714

)

(38,772

)

NET ASSETS

535,534

617,094

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

535,434

616,994

SHAREHOLDERS' FUNDS

535,534

617,094

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:

J I McMichael - Director

1.	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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five 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.

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

-

20% on reducing balance

Fixtures and fittings

-

15% on cost

Computer equipment

-

25% on reducing balance

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.

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.

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.

2.	EMPLOYEES AND DIRECTORS

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

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

155,000

AMORTISATION

At 1 January 2024

and 31 December 2024

155,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

300,016

41,020

18,218

359,254

Additions

62,720

26,836

1,150

90,706

Disposals

(68,765

)

-

-

(68,765

)

At 31 December 2024

293,971

67,856

19,368

381,195

DEPRECIATION

At 1 January 2024

150,637

41,020

12,435

204,092

Charge for year

31,044

3,019

1,547

35,610

Eliminated on disposal

(25,422

)

-

-

(25,422

)

At 31 December 2024

156,259

44,039

13,982

214,280

NET BOOK VALUE

At 31 December 2024

137,712

23,817

5,386

166,915

At 31 December 2023

149,379

-

5,783

155,162

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

Plant and

machinery

£

COST

At 1 January 2024

186,515

Additions

54,895

Disposals

(68,765

)

At 31 December 2024

172,645

DEPRECIATION

At 1 January 2024

89,003

Charge for year

22,085

Eliminated on disposal

(25,422

)

At 31 December 2024

85,666

NET BOOK VALUE

At 31 December 2024

86,979

At 31 December 2023

97,512

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

198,113

194,600

Other debtors

47,130

54,862

Prepayments and accrued income

7,945

6,083

253,188

255,545

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,123

10,648

Trade creditors

70,488

38,210

Tax

3,797

58,701

Social security and other taxes

16,464

14,853

Pension Payable

2,790

2,246

VAT

39,979

48,646

Other creditors

13,375

-

Credit card

2,573

3,259

Hire purchase <1 Year

7,348

10,572

Directors' current accounts

46,100

44,380

Accrued expenses

2,500

51,500

215,537

283,015

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

5,530

10,648

Bank loans - 2-5 years

-

4,479

Hire purchase > 1 Year

18,981

27,621

24,511

42,748

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

Mr J McMichael is a director of Apex Brickcutters (Midlands) Limited to whom the company owed £4740 (2023 - NIL) at the balance sheet date.

Mr J McMichael is a director of McMichael & Simpson Limited from whom the company received services to the value of £102,000 (2023 - £120,000) on normal commercial terms. The amount outstanding at the balance sheet date was £43,242 (2023 - £35,000).

Brickability Limited is a shareholder of the company to whom the company sold goods to the value of £ 168,631 (2023 - £531,264) on normal commercial terms. At the balance sheet date the amount outstanding was £20,317 (2023 - £78,900).

Apex Building Products Loan account at the 31st of December 2024 was £3,783 (debit balance).