Apex Moto X Worcester Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06553944 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2023

for

Apex Moto X Worcester Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D R Ellis

M J Davis

SECRETARY:

D R Ellis

REGISTERED OFFICE:

Unit 21 Enfield Industrial Estate

Redditch

Worcestershire

B97 6BY

REGISTERED NUMBER:

06553944 (England and Wales)

ACCOUNTANTS:

Derek Young & Co Accountants LLP

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

97,575

97,834

97,575

97,834

CURRENT ASSETS

Debtors

7,600

20,000

Cash at bank

20,204

24,101

27,804

44,101

CREDITORS

Amounts falling due within one year

37,519

25,958

NET CURRENT (LIABILITIES)/ASSETS

(9,715

)

18,143

TOTAL ASSETS LESS CURRENT LIABILITIES

87,860

115,977

CREDITORS

Amounts falling due after more than one year

(31,217

)

(34,117

)

PROVISIONS FOR LIABILITIES

(6,991

)

(11,782

)

NET ASSETS

49,652

70,078

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

49,650

70,076

SHAREHOLDERS' FUNDS

49,652

70,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 August 2023 and were signed on its behalf by:

D R Ellis - Director

1.	STATUTORY INFORMATION

Apex Moto X Worcester 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.

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 represents amounts derived from the provision of goods and services falling within the company's ordinary activities, after deduction of trade discounts, value added tax and any other tax based on the amounts so derived.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Equipment

-

15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2022

and 31 May 2023

40,000

AMORTISATION

At 1 June 2022

and 31 May 2023

40,000

NET BOOK VALUE

At 31 May 2023

-

At 31 May 2022

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2022

250,966

Additions

22,000

At 31 May 2023

272,966

DEPRECIATION

At 1 June 2022

153,132

Charge for year

22,259

At 31 May 2023

175,391

NET BOOK VALUE

At 31 May 2023

97,575

At 31 May 2022

97,834

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 June 2022

56,100

27,000

83,100

Additions

-

22,000

22,000

Transfer to ownership

(56,100

)

-

(56,100

)

At 31 May 2023

-

49,000

49,000

DEPRECIATION

At 1 June 2022

26,816

6,750

33,566

Charge for year

-

10,563

10,563

Transfer to ownership

(26,816

)

-

(26,816

)

At 31 May 2023

-

17,313

17,313

NET BOOK VALUE

At 31 May 2023

-

31,687

31,687

At 31 May 2022

29,284

20,250

49,534

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

2

Ordinary shares

£1

2

2

7.	RELATED PARTY DISCLOSURES

The company rents land from the directors of the company. In the period under review rent of £33,600 was paid.

8.	ULTIMATE CONTROLLING PARTY