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No description of principal activity
2020-03-10
Sage Accounts Production Advanced 2020 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
12508111
2020-03-10
2021-03-31
12508111
2021-03-31
12508111
core:PlantMachinery
2020-03-10
2021-03-31
12508111
core:MotorVehicles
2020-03-10
2021-03-31
12508111
bus:Director1
2020-03-10
2021-03-31
12508111
core:WithinOneYear
2021-03-31
12508111
core:AfterOneYear
2021-03-31
12508111
core:ShareCapital
2021-03-31
12508111
core:RetainedEarningsAccumulatedLosses
2021-03-31
12508111
core:BetweenOneFiveYears
2021-03-31
12508111
bus:SmallEntities
2020-03-10
2021-03-31
12508111
bus:AuditExemptWithAccountantsReport
2020-03-10
2021-03-31
12508111
bus:AbridgedAccounts
2020-03-10
2021-03-31
12508111
bus:SmallCompaniesRegimeForAccounts
2020-03-10
2021-03-31
12508111
bus:PrivateLimitedCompanyLtd
2020-03-10
2021-03-31
COMPANY REGISTRATION NUMBER:
12508111
|
APK Plant & Transport Limited |
|
|
Filleted Unaudited Abridged Financial Statements |
|
|
APK Plant & Transport Limited |
|
|
Abridged Statement of Financial Position |
|
31 March 2021
Fixed assets
|
Tangible assets |
5 |
727,945 |
|
|
|
Current assets
|
Debtors |
206,467 |
|
Cash at bank and in hand |
1,019 |
|
--------- |
|
207,486 |
|
|
|
Creditors: amounts falling due within one year |
562,553 |
|
--------- |
|
Net current liabilities |
355,067 |
|
--------- |
|
Total assets less current liabilities |
372,878 |
|
|
|
Creditors: amounts falling due after more than one year |
458,582 |
|
--------- |
|
Net liabilities |
(
85,704) |
|
--------- |
|
|
Capital and reserves
|
Called up share capital |
1 |
|
Profit and loss account |
(
85,705) |
|
-------- |
|
Shareholders deficit |
(
85,704) |
|
-------- |
|
|
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the period ending 31 March 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 abridged financial statements for the period 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.
|
APK Plant & Transport Limited |
|
|
Abridged Statement of Financial Position (continued) |
|
31 March 2021
These abridged financial statements were approved by the
board of directors
and authorised for issue on
31 March 2022
, and are signed on behalf of the board by:
Company registration number:
12508111
|
APK Plant & Transport Limited |
|
|
Notes to the Abridged Financial Statements |
|
Period from 10 March 2020 to 31 March 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 Stoneraise Quarry, Great Salkeld, Penrith, Cumbria, CA11 9NF.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have adopted the going concern basis in preparing these accounts after assessing the principal risks and having considered the impact of a severe but plausible downside scenario for COVID-19. The major variables are the depth and the duration of COVID-19. The directors considered the impact of the current COVID-19 environment on the sales, profits and cash flows of the business for the next 12 months. The directors believe that the company is well placed to manage its financing and other business risks satisfactorily, and have a reasonable expectation that the company will have adequate resources to continue in operation for at least 12 months from the date of signing these financial statements. They therefore consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
15% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
4
.
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 10 March 2020 |
– |
|
Additions |
785,259 |
|
--------- |
|
At 31 March 2021 |
785,259 |
|
--------- |
|
Depreciation |
|
|
At 10 March 2020 |
– |
|
Charge for the period |
57,314 |
|
--------- |
|
At 31 March 2021 |
57,314 |
|
--------- |
|
Carrying amount |
|
|
At 31 March 2021 |
727,945 |
|
--------- |
|
|
6.
Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
|
31 Mar 21 |
|
£ |
|
Not later than 1 year |
207,547 |
|
Later than 1 year and not later than 5 years |
458,582 |
|
--------- |
|
666,129 |
|
--------- |
|
|
7.
Controlling party
The company's share capital is owned by APK Holdings (Cumbria) Limited, a company incorporated in England and Wales
.
