Apreco Limited - Accounts to registrar (filleted) - small 18.2
Apreco Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2020 |
| for |
| APRECO LIMITED |
| APRECO LIMITED (REGISTERED NUMBER: 03317757) |
| Contents of the Financial Statements |
| for the year ended 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| APRECO LIMITED |
| Company Information |
| for the year ended 31 December 2020 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| 3rd Floor |
| Broadway House |
| 32 - 35 Broad Street |
| Hereford |
| Herefordshire |
| HR4 9AR |
| APRECO LIMITED (REGISTERED NUMBER: 03317757) |
| Balance Sheet |
| 31 December 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| Shareholders' funds |
| 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. |
| APRECO LIMITED (REGISTERED NUMBER: 03317757) |
| Balance Sheet - continued |
| 31 December 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| APRECO LIMITED (REGISTERED NUMBER: 03317757) |
| Notes to the Financial Statements |
| for the year ended 31 December 2020 |
| 1. | Statutory information |
| Apreco Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover, which is attributable to one continuing activity, represents amounts invoiced, excluding value added tax, in respect of goods and services. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced, calculated by reference to the stage of completion. |
| Patents and trademarks |
| Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
| Patents & trademarks - period of the grant or estimated life |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| APRECO LIMITED (REGISTERED NUMBER: 03317757) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2020 |
| 2. | Accounting policies - continued |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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 |
| 4. | Intangible fixed assets |
| Patents and |
| licences |
| £ |
| Cost |
| At 1 January 2020 |
| Additions |
| At 31 December 2020 |
| Amortisation |
| At 1 January 2020 |
| Amortisation for year |
| At 31 December 2020 |
| Net book value |
| At 31 December 2020 |
| At 31 December 2019 |
| APRECO LIMITED (REGISTERED NUMBER: 03317757) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2020 |
| 5. | Tangible fixed assets |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 January 2020 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 December 2020 |
| Depreciation |
| At 1 January 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 December 2020 |
| Net book value |
| At 31 December 2020 |
| At 31 December 2019 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| Cost |
| At 1 January 2020 |
| and 31 December 2020 |
| Depreciation |
| At 1 January 2020 |
| Charge for year |
| At 31 December 2020 |
| Net book value |
| At 31 December 2020 |
| At 31 December 2019 |
| 6. | Debtors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts recoverable on contract |
| Other debtors |
| APRECO LIMITED (REGISTERED NUMBER: 03317757) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2020 |
| 7. | Creditors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| 9. | Leasing agreements |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2020 | 2019 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2020 | 2019 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 10. | Secured debts |
| Two former directors of the company, held a joint first fixed charge over the company assets. This charge was satisfied on 4 August 2020. |
| 11. | Directors' advances, credits and guarantees |
| The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid |
| Amounts written off | (29 | ) | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| APRECO LIMITED (REGISTERED NUMBER: 03317757) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2020 |
| 11. | Directors' advances, credits and guarantees - continued |
| No interest is charged on the above Director's advances. There are no conditions attached to the balance due from the Director at the year end. |
| 12. | Ultimate controlling party |
| The controlling party is Apreco Holdings Limited. |
| The company is incorporated in the United Kingdom and owns 100% of the share capital in Apreco Limited. |