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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2017 |
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2 APPLES LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2017 |
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FOR |
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2 APPLES LIMITED |
2 APPLES LIMITED (REGISTERED NUMBER: 09428422) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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2 APPLES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
Granville Hall |
Granville Road |
Leicester |
LE1 7RU |
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BANKERS: |
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8 South Parade |
Nottingham |
Nottinghamshire |
NG1 2JS |
2 APPLES LIMITED (REGISTERED NUMBER: 09428422) |
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BALANCE SHEET |
31 JANUARY 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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2 APPLES LIMITED (REGISTERED NUMBER: 09428422) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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1. | STATUTORY INFORMATION |
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2 Apples Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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This is the first year in which the financial statements have been prepared under FRS 102. |
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The financial statements are presented in Sterling (£). |
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GOING CONCERN |
The financial statements have been prepared on the going concern basis, the company's ability to continue for the |
foreseeable future depends on the continued support of its bankers, loan note holders and fellow group members. |
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The directors have prepared forecasts for the company and its group for the 12 months following the approval of |
these financial statements. These indicate that the company and its group will have adequate cash resources to meet |
its obligations as they fall due. Current forecasts indicate that the company expects to be able to operate within its |
current facilities for the period under review. These facilities are renewed annually subject to existing covenants. |
The Directors are not aware, however, of any circumstances that may adversely affect the renewal of these facilities. |
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Accordingly, the directors have a reasonable expectation that the company has adequate resources to continue in |
operational existence for the foreseeable future and believe it is appropriate to prepare the financial statements on |
the going concern basis. |
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PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS |
The financial statements contain information about 2 Apples Limited as an individual company and do not contain |
consolidated financial information as the parent of a group. The company has taken the option under Section 398 of |
the Companies Act 2006 not to prepare consolidated financial statements. |
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TURNOVER |
Revenue comprises the fair value for the sale of services excluding value added taxes and represents net invoice. |
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The company supplies services to customers under standard terms and conditions. In all cases revenue is recognised |
once the services have been provided. |
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INVESTMENTS IN SUBSIDIARIES |
Investments in subsidiary undertakings are recognised at cost. |
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INVESTMENTS |
Investments are included at cost less residual amounts written off. Profits or losses arising from disposals of fixed |
asset investments are treated as part of the result from ordinary activities. |
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CREDITORS |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are |
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method. |
2 APPLES LIMITED (REGISTERED NUMBER: 09428422) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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2. | ACCOUNTING POLICIES - continued |
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DEBTORS |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at |
fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest |
method, less any impairment. |
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3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 February 2016 |
and 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Other creditors |
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2 APPLES LIMITED (REGISTERED NUMBER: 09428422) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2017 | 2016 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Loan notes |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Loan notes | 4,167,000 | 4,250,000 |
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Bank overdraft, bank loans and the loan notes are secured on all the assets of the group. |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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2 APPLES LIMITED (REGISTERED NUMBER: 09428422) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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10. | RELATED PARTY DISCLOSURES |
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At the year end an amount of £1,339,695 (2016 : £1,339,695) was owed by UK Gas Services (Leicestershire) |
Limited. |
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During the year the company charged UK Gas Services Limited £190,000 (2016 : £300,000) for management |
services. At the year end an amount of £20,455 was owing to UK Gas Services Limited (2016 : £89,545 owed by) |
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During the year there existed an inter-company guarantee between the company, UK Gas Services (Leicestershire) |
Group Limited and UK Gas Services Limited in respect of all of the group's bank loans and overdrafts. |
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As at 31 January 2017 the company owed £99,925 (2016 : £99,925) to Mr AK Newton, a director of the company. |
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As at 31 January 2017 the company owed £9,985 (2016 : £9,985) to Mr SJ Wellings, a director of the company. |
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11. | ULTIMATE CONTROLLING PARTY |
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The directors consider Mr AK Newton to be the ultimate controlling party due to his 75% shareholding. |
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12. | TRANSITION TO FRS 102 |
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The company has adopted FRS 102 for the year ended 31 January 2017 and has restated the comparative prior year |
amounts. |
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The interest on loan notes included in other creditors become payable once the bank loan is repaid in full, due to the |
interest free period attached to the loan notes, in accordance with accounting principles under transition to FRS 102 |
the interest due for the whole term of the loan notes is accrued evenly over the loan term. The adjustment for the |
comparative period reflects the interest to be accrued in line with this treatment for the current year. |
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