AP CAPITAL (UK) LIMITED - Filleted accounts

AP CAPITAL (UK) LIMITED
Registered number:		04813507
Balance Sheet
as at 31 December 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		1,332			1,776

Current assets
Stocks		369,334			-
Debtors	3	309,884			505,689
Cash at bank and in hand		105,359			148,918
		784,577			654,607

Creditors: amounts falling due within one year	4	(652,872)			(532,504)

Net current assets			131,705			122,103

Net assets			133,037			123,879

Capital and reserves
Called up share capital			1			1
Profit and loss account			133,036			123,878

Shareholders' funds			133,037			123,879

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




S Abiola
Director
Approved by the board on 29 September 2017

AP CAPITAL (UK) LIMITED
Notes to the Accounts
for the year ended 31 December 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, tools and equipment	over 4 years


	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.





	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 January 2016				4,282
	At 31 December 2016				4,282

	Depreciation
	At 1 January 2016				2,506
	Charge for the year				444
	At 31 December 2016				2,950

	Net book value
	At 31 December 2016				1,332
	At 31 December 2015				1,776


3	Debtors		2016		2015
£				£

	Trade debtors		285,756		490,549
	Other debtors		24,128		15,140
			309,884		505,689


4	Creditors: amounts falling due within one year		2016		2015
£				£

	Bank loans and overdrafts		200,798		65,293
	Trade creditors		371,694		306,274
	Corporation tax		11,307		11,879
	Other creditors		69,073		149,058
			652,872		532,504


5	Related party transactions

	The controlling party is Mr S Abiola by virtue of his ownership of 100% of the issued share capital of the company.


6	Other information

	AP CAPITAL (UK) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Third Floor North
	224-236 Walworth Road
	London
	SE17 1JE