Applelec Intl Limited Filleted accounts for Companies House (small and micro)

APPLELEC INTL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08876325

Applelec Intl Limited

Filleted Unaudited Financial Statements

31 December 2021

Applelec Intl Limited

Statement of Financial Position

31 December 2021

	2021		2020
Note	£	£	£

Current assets

Debtors	4	34,767	24,871
Cash at bank and in hand		67,193	68,435
		---------	--------
		101,960	93,306

Creditors: amounts falling due within one year	5	84,511		76,633
		---------		--------
Net current assets			17,449	16,673
			--------	--------
Total assets less current liabilities			17,449	16,673
			--------	--------
Net assets			17,449	16,673
			--------	--------

Applelec Intl Limited

Statement of Financial Position (continued)

31 December 2021

	2021		2020
Note	£	£	£

Capital and reserves

Called up share capital	102	100
Profit and loss account	17,347	16,573
	--------	--------
Shareholders funds	17,449	16,673
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' 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, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2021 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 28 September 2022 , and are signed on behalf of the board by:

Mr I Drinkwater

Director

Company registration number: 08876325

Applelec Intl Limited

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Wharfedale Business Park, Shetcliffe Lane, Bradford, BD4 9RW.

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'.

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.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable for the provision of goods and services to customers outside the company net of returns, sales allowances and VAT. Revenue from goods and services is recognised at the point the company fulfils its commercial obligations to the customer, the revenue and costs in respect of the transaction can be measured reliably and collectability is reasonably assured.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Debtors

	2021	2020
	£	£
Trade debtors	33,633	23,216
Other debtors	1,134	1,655
	--------	--------
	34,767	24,871
	--------	--------

5. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	5,676	2,005
Corporation tax	8,124	9,156
Other creditors	70,711	65,472
	--------	--------
	84,511	76,633
	--------	--------

6. Directors' advances, credits and guarantees

The directors loan account remained in credit throughout the current year. There were no guarantees in the year.

7. Related party transactions

The company has no ultimate controlling party throughout the current period.