Company Registration No. 9024876 (England and Wales)
APG Ceilings Ltd
Unaudited accounts
for the year ended 31 May 2020
APG Ceilings Ltd
Unaudited accounts
Contents
APG Ceilings Ltd
Company Information
for the year ended 31 May 2020
Director
Andrey GOROBTSOV
Company Number
9024876 (England and Wales)
Registered Office
19A SAXON ROAD
LONDON
E6 3RZ
Accountants
Adamant Accountants Ltd
Office S8, Boleyn House
776-778 Barking Road
London
E13 9PJ
APG Ceilings Ltd
Statement of financial position
as at
31 May 2020
Cash at bank and in hand
23
86
Creditors: amounts falling due within one year
(8)
(183)
Total assets less current liabilities
107
179
Creditors: amounts falling due after more than one year
(5,293)
(5,293)
Net liabilities
(5,186)
(5,114)
Called up share capital
1,000
1,000
Profit and loss account
(6,186)
(6,114)
Shareholders' funds
(5,186)
(5,114)
For the year ending 31 May 2020 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 director acknowledges his 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 and authorised for issue on 15 January 2021 and were signed on its behalf by
Andrey GOROBTSOV
Director
Company Registration No. 9024876
APG Ceilings Ltd
Notes to the Accounts
for the year ended 31 May 2020
APG Ceilings Ltd is a private company, limited by shares, registered in England and Wales, registration number 9024876. The registered office is 19A SAXON ROAD, LONDON, E6 3RZ.
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, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
3.2. Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% on cost
3.3. Cash at bank and in hands
Cash at bank and in hands are basic financial assets and include cash in hand and deposits held with financial institutions repayable without penalty on notice of non more than 24 hours.
3.4. Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
APG Ceilings Ltd
Notes to the Accounts
for the year ended 31 May 2020
Equity instruments issued by the company are recognised at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and differed tax assets that are recognised to extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
4
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
6
Creditors: amounts falling due within one year
2020
2019
APG Ceilings Ltd
Notes to the Accounts
for the year ended 31 May 2020
7
Creditors: amounts falling due after more than one year
2020
2019
Loans from directors
5,293
5,293
8
Share capital
2020
2019
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Average number of employees
During the year the average number of employees was 0 (2019: 0).