Apia Financial Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07047477 (England and Wales)

Apia Financial Limited

Unaudited Financial Statements for the Year Ended 31 October 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

P P M Afoa

REGISTERED OFFICE:

31 Lynette Avenue

London

SW4 9HE

REGISTERED NUMBER:

07047477 (England and Wales)

ACCOUNTANTS:

Aggarwal & Co Limited

Chartered Accountants

5 London Road

Rainham

Gillingham

Kent

ME8 7RG

FIXED ASSETS

Tangible assets

3

9,041

11,214

CURRENT ASSETS

Debtors

4

52,164

5,760

Cash at bank and in hand

8,682

10,839

60,846

16,599

CREDITORS

Amounts falling due within one year

5

24,028

1,493

NET CURRENT ASSETS

36,818

15,106

TOTAL ASSETS LESS CURRENT LIABILITIES

45,859

26,320

PROVISIONS FOR LIABILITIES

6

1,718

2,080

NET ASSETS

44,141

24,240

CAPITAL AND RESERVES

Called up share capital

200

200

Capital redemption reserve

10,000

10,000

Retained earnings

33,941

14,040

SHAREHOLDERS' FUNDS

44,141

24,240

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 4 April 2018 and were signed by:

P P M Afoa - Director

1.	STATUTORY INFORMATION

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

Income recognition

Turnover represents commissions received.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and

liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and

loans to related parties. Basic financial instruments are recognised at amortised cost.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

19,008

Additions

1,364

Disposals

(926

)

At 31 October 2017

19,446

DEPRECIATION

At 1 November 2016

7,794

Charge for year

3,146

Eliminated on disposal

(535

)

At 31 October 2017

10,405

NET BOOK VALUE

At 31 October 2017

9,041

At 31 October 2016

11,214

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

52,164

5,760

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

305

Taxation and social security

22,794

105

Other creditors

1,234

1,083

24,028

1,493

6.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

1,718

2,080

Deferred

tax

£

Balance at 1 November 2016

2,080

Provided during year

(362

)

Balance at 31 October 2017

1,718

7.	FIRST YEAR ADOPTION

It is the first year that the company has presented its financial statements under Financial Reporting Standard

102. The last financial statements prepared under previous UK GAAP were for the year ended 31 October 2016

and the date of transition to FRS 102 was therefore 1 November 2015.

As a consequence of adopting FRS 102, none of the accounting policies have changed to comply with those

standards.