Company Registration No. 05347214 (England and Wales)
APE Properties Limited
Unaudited accounts
for the year ended 31 January 2023
APE Properties Limited
Unaudited accounts
Contents
APE Properties Limited
Company Information
for the year ended 31 January 2023
Directors
Penelope Jane Hill
Brandon Hill
Company Number
05347214 (England and Wales)
Accountants
Falcor BC Limited
1st Floor, 25 Chertsey Road
Chobham
GU24 8PD
APE Properties Limited
Statement of financial position
as at 31 January 2023
Tangible assets
59,800
70,775
Investment property
1,986,536
2,356,924
Cash at bank and in hand
(5,560)
7,471
Creditors: amounts falling due within one year
(736,726)
(570,164)
Net current liabilities
(673,039)
(557,644)
Total assets less current liabilities
1,373,297
1,870,055
Creditors: amounts falling due after more than one year
(926,318)
(1,354,273)
Provisions for liabilities
Deferred tax
(97,816)
(97,816)
Net assets
349,163
417,966
Called up share capital
100
100
Profit and loss account
349,063
417,866
Shareholders' funds
349,163
417,966
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by
Penelope Jane Hill
Director
Company Registration No. 05347214
APE Properties Limited
Notes to the Accounts
for the year ended 31 January 2023
APE Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 05347214.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment to match to current useful value.
No allowance is made for tools described as plant & equipment.
Investment property is included at market fair value. Gains are recognised in the income statement after completion of building work. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The profits recorded on revaluations are not distributable until such time as the properties are sold.
APE Properties Limited
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 February 2022
5,000
76,373
81,373
Disposals
-
(40,000)
(40,000)
At 31 January 2023
5,000
71,747
76,747
At 1 February 2022
-
10,598
10,598
Charge for the year
-
14,349
14,349
On disposals
-
(8,000)
(8,000)
At 31 January 2023
-
16,947
16,947
At 31 January 2023
5,000
54,800
59,800
At 31 January 2022
5,000
65,775
70,775
Fair value at 1 February 2022
2,356,924
At 31 January 2023
1,986,536
The Company holds five properties.
39 Kingsway Blackwater (£675,000) , a 137 Hampton Lane (£540 000), 141 Hampton Lane £342,000), and Rear of 139 &141 Hampton Lane has a directors valuation of £76 000.
139 Hampton Lane has an Option to purchase for £215,000 (by April 2023)
Amounts falling due within one year
Amounts falling due after more than one year
Amounts due from group undertakings etc.
8,216
5,049
APE Properties Limited
Notes to the Accounts
for the year ended 31 January 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
33,333
139,125
Obligations under finance leases and hire purchase contracts
29,888
12,632
Trade creditors
35,844
41,199
Amounts owed to group undertakings and other participating interests
14,736
13,788
Taxes and social security
(395)
631
Other creditors
10,866
50,422
Loans from directors
612,755
311,363
Directors loans are advances from Penelope Hill, Brandon Hill and Callum Hill. Penelope Hill is paid interest on her loan at the rate of 4.8%
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
926,318
1,354,273
Aggregate of amounts that fall due for payment after five years
959,651
1,354,273
The long term creditors are secured by interest-only Mortgages over the Investment Properties.
Precise Mortgages £516 839 (2022 -£517,220) over 39 Kingsway
Catalyst £268 000 over137 Hampton Lane
Keystone £217 500 over 141 Hampton Lane
Bounce Bank Loan £33 333
The Directors (Penelope Hill and Brandon Hill) has personally guaranteed mortgages on behalf of the company.
9
Transactions with related parties
The following loans were outstanding with Directors at year end: Interest is charges on these loans.
Brandon Hill (creditor) £18 155 (other debtors) £12 800
Callum Hill (creditor) £12 921 (other debtors) £18 000
Penelope Hill (creditor) £270 352, (other debtors) £30 000
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
