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REGISTERED NUMBER: OC368480
Apeks Developments LLP
Filleted Unaudited Financial Statements
30 September 2024
Apeks Developments LLP
Financial Statements
Year ended 30 September 2024
Contents
Page
Members' report
1
Statement of financial position
2
Notes to the financial statements
4
Apeks Developments LLP
Members' Report
Year ended 30 September 2024
The members present their report and the unaudited financial statements of the LLP for the year ended 30 September 2024 .
Principal activities
The principal activity of the LLP is to provide project management and consultancy services for the development of real estate.
Designated members
The designated members who served the LLP during the year were as follows:
Mr Z Hanif
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Each member's subscription to capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.
Details of changes in member's capital are set out in the financial statements.
Member are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares during the course of the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.
This report was approved by the members on 29 September 2025 and signed on behalf of the members by:
Mr Z Hanif
Designated Member
Registered office:
Unit 3
130 Brixton Hill
London
SW2 1RS
Apeks Developments LLP
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Current assets
Debtors
4
48,423
55,000
Cash at bank and in hand
–
129
--------
--------
48,423
55,129
Creditors: amounts falling due within one year
5
48,423
48,630
--------
--------
Net current assets
–
6,499
----
-------
Total assets less current liabilities
–
6,499
----
-------
Net assets
–
6,499
----
-------
Represented by:
Loans and other debts due to members
Other amounts
6
–
6,499
----
-------
Members' other interests
Other reserves
–
–
----
-------
–
6,499
----
-------
Total members' interests
Amounts due from members
(28,423)
–
Loans and other debts due to members
6
–
6,499
Members' other interests
–
–
--------
-------
(28,423)
6,499
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
For the year ending 30 September 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
Apeks Developments LLP
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the members and authorised for issue on 29 September 2025 , and are signed on their behalf by:
Mr Z Hanif
Designated Member
Registered number: OC368480
Apeks Developments LLP
Notes to the Financial Statements
Year ended 30 September 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Unit 3, 130 Brixton Hill, London, SW2 1RS.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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. Cash equivalents are highly liquid investment that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Going concern
The LLP is reliant on the support of the designated member in order to continue in operational existence and meet its liabilities as they fall due. The member is satisfied that he will continue to support the LLP and as such the going concern basis is appropriate for the preparation of the accounts.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Debtors
2024
2023
£
£
Other debtors
48,423
55,000
--------
--------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
42,501
42,501
Social security and other taxes
5,286
5,493
Other creditors
636
636
--------
--------
48,423
48,630
--------
--------
6.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
–
6,499
----
-------
7.
Related party transactions
Included in other debtors is an amount owed from entities under common control of £20,000 (2023: £55,000).
8.
Controlling party
The LLP was under the control of Mr Zahid Hanif, a designated member, during the current period.