APN Limited

(Registration number: 04569867) (England and Wales)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	27,789	37,052
Investment property	6	3,091,500	3,091,500
Other financial assets	7	30	30
		3,119,319	3,128,582
Current assets
Debtors	8	606,382	697,488
Cash at bank and in hand		84,832	57,448
		691,214	754,936
Creditors: Amounts falling due within one year	9	(115,693)	(140,821)
Net current assets		575,521	614,115
Total assets less current liabilities		3,694,840	3,742,697
Creditors: Amounts falling due after more than one year	9	(1,167,501)	(1,167,501)
Provisions for liabilities		(174,381)	(174,381)
Net assets		2,352,958	2,400,815
Capital and reserves
Called up share capital	11	100	100
Retained earnings		2,352,858	2,400,715
Shareholders' funds		2,352,958	2,400,815

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

APN Limited

(Registration number: 04569867) (England and Wales)
Balance Sheet as at 31 March 2026 (continued)

The financial statements were approved and authorised for issue by the Board on 2 October 2026 and signed on its behalf by:
 

......................................... Dr Prashant Gupta Director

APN Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Queens Road
Ealing
London
W5 2SA
United Kingdom

These financial statements were authorised for issue by the Board on 2 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Revenue recognition

Tturnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Tturnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

APN Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% on WDV

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

APN Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

APN Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Financial instruments

(i) Financial assets
Basic financial assets, including trade, other debtors, and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method, unless they are receivable within one year. In these instances, assets are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be received.

At the end of each reporting period financial assets are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

APN Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method, unless they are payable within one year. In these instances, assets are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid.

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit or Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

3	Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 2 (2025: 2).

4

Taxation

Tax charged/(credited) in the profit and loss account

	2026 £	2025 £
Current taxation
UK corporation tax	21,720	28,737
UK corporation tax adjustment to prior periods	(50)	(414)
	21,670	28,323

APN Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

5	Tangible assets

	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	4,511	55,995	60,506
At 31 March 2026	4,511	55,995	60,506
Depreciation
At 1 April 2025	1,581	21,873	23,454
Charge for the year	733	8,530	9,263
At 31 March 2026	2,314	30,403	32,717
Carrying amount
At 31 March 2026	2,197	25,592	27,789
At 31 March 2025	2,930	34,122	37,052

6	Investment properties

	2026 £
At 1 April	3,091,500
At 31 March	3,091,500

The investment properties were revalued on 31 March 2023 by the Directors who are internal to the company. The basis of this valuation was on an open market value.

APN Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

7	Other financial assets (current and non-current)

	Financial assets at cost less impairment £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2025	30	30
At 31 March 2026	30	30
Impairment
Carrying amount
At 31 March 2026	30	30

8

Debtors

	Note	2026 £	2025 £
Other debtors	12	606,227	697,488
Prepayments		155	-
		606,382	697,488

APN Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

9

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	10	8,405	15,609
Corporation tax payable		21,720	28,737
Accruals and deferred income		3,360	3,120
Other creditors		21,975	22,126
Directors current account		60,233	71,229
		115,693	140,821

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	10	1,167,501	1,167,501

10	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Finance lease liabilities	8,405	15,609

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	1,139,822	1,139,822
Finance lease liabilities	27,679	27,679
	1,167,501	1,167,501

The bank borrowings are secured against the Investment properties.

APN Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

11	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

12	Related party transactions

Other debtors of £606,382 includes £294,962 owed from AGDP Ltd in which there are common shareholders.