A.P.H. Industries Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01851040 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2022

FOR

A.P.H. INDUSTRIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K P Thurlow

Mrs R A Kennington

SECRETARY:

Mrs R A Kennington

REGISTERED OFFICE:

Anderson Works

Tongue Lane

Buxton

Derbyshire

SK17 7LN

REGISTERED NUMBER:

01851040 (England and Wales)

ACCOUNTANTS:

Heywood Shepherd

Chartered Accountants

1 Park Street

Macclesfield

Cheshire

SK11 6SR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

287,251

308,269

287,251

308,269

CURRENT ASSETS

Stocks

438,584

399,502

Debtors

6

1,150,515

1,053,056

Cash at bank and in hand

166,469

187,617

1,755,568

1,640,175

CREDITORS

Amounts falling due within one year

7

686,464

572,967

NET CURRENT ASSETS

1,069,104

1,067,208

TOTAL ASSETS LESS CURRENT LIABILITIES

1,356,355

1,375,477

CREDITORS

Amounts falling due after more than one year

8

(99,323

)

(119,929

)

PROVISIONS FOR LIABILITIES

(12,066

)

(13,990

)

NET ASSETS

1,244,966

1,241,558

CAPITAL AND RESERVES

Called up share capital

19,529

19,529

Share premium

58,047

58,047

Revaluation reserve

10

9,697

11,312

Capital redemption reserve

7,524

7,524

Retained earnings

1,150,169

1,145,146

SHAREHOLDERS' FUNDS

1,244,966

1,241,558

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by:

Mr K P Thurlow - Director

Mrs R A Kennington - Director

1.	STATUTORY INFORMATION

A.P.H. Industries Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, which represents the excess of cost of acquisitions of business over the value attributed to their net assets, is amortised through the profit and loss account by equal instalments over its estimated useful economic life of up to a maximum of 20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2.5% on cost

Plant and machinery etc

-

33% on cost, 25% on cost, 15% on cost and 10% on cost

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.

Hire purchase and leasing commitments

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 14 (2021 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 December 2021

and 30 December 2022

151,970

AMORTISATION

At 31 December 2021

and 30 December 2022

151,970

NET BOOK VALUE

At 30 December 2022

-

At 30 December 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 31 December 2021

477,481

774,940

1,252,421

Additions

-

17,218

17,218

At 30 December 2022

477,481

792,158

1,269,639

DEPRECIATION

At 31 December 2021

244,141

700,011

944,152

Charge for year

11,419

26,817

38,236

At 30 December 2022

255,560

726,828

982,388

NET BOOK VALUE

At 30 December 2022

221,921

65,330

287,251

At 30 December 2021

233,340

74,929

308,269

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

403,635

314,178

Other debtors

746,880

738,878

1,150,515

1,053,056

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

47,935

42,368

Trade creditors

358,834

275,419

Taxation and social security

15,921

14,348

Other creditors

263,774

240,832

686,464

572,967

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

99,323

119,929

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

125,809

152,182

The Bank loan is secured on the fixed assets of the company.

10.

RESERVES

Revaluation

reserve

£

At 31 December 2021

11,312

Transfers between reserves

(1,615

)

At 30 December 2022

9,697

11.	RELATED PARTY DISCLOSURES

Included in 'Creditors : amounts falling due within one year' are directors' loans of £40,039 (2021 - £30,644) for KP Thurlow.

The company has a loan with its Employee Benefit Trust and at the year end it was owed £1,455 (2021 - £1,455).

In addition the company traded with W W Laycock & Sons Limited, a company owned by the Employee Benefit Trust. There remains a loan outstanding of £13,052 (2021 - £13,052).

Included in debtors is an amount due from Laycock Holdings Limited, the holding company of W W Laycock & Sons Limited, of £1,295 (2021 - £1,295).

The company traded with Merridale Laycock Limited during the year, a company associated via common directors. Sales for the year totalled £9,858 (2021 - £8,210) and purchases totalled £223,661 (2021 - £149,029). At the year end, included in trade debtors is an amount due of £173 (2021 - £2,416) and included in trade creditors is an amount owed £48,822 (2021 - £34,384).