APD Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08007346 (England and Wales)

APD PROPERTIES LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH APRIL 2020

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

Mr T Murray

Mr F Murray

Mr E S D Murray

REGISTERED OFFICE:

69-71 Lower Bristol Road

BATH

BA2 3BE

REGISTERED NUMBER:

08007346 (England and Wales)

AUDITORS:

Morris Owen

Statutory Auditors

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

National Westminster Bank Plc

225 High Street

Lincoln

Lincolnshire

LN2 1AZ

FIXED ASSETS

Property, plant and equipment

4

2,117,821

2,148,809

Investments

5

25

25

2,117,846

2,148,834

CURRENT ASSETS

Debtors

6

7,500

9,980

Cash at bank

24,573

10,961

32,073

20,941

CREDITORS

Amounts falling due within one year

7

863,531

854,175

NET CURRENT LIABILITIES

(831,458

)

(833,234

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,286,388

1,315,600

CREDITORS

Amounts falling due after more than one year

8

1,181,065

1,251,874

NET ASSETS

105,323

63,726

CAPITAL AND RESERVES

Called up share capital

10

4

4

Retained earnings

105,319

63,722

SHAREHOLDERS' FUNDS

105,323

63,726

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 4th December 2020 and were signed on its behalf by:

Mr E S D Murray - Director

1.	STATUTORY INFORMATION

APD Properties Limited is a private company, limited by shares, and incorporated in England and Wales.

The registered office address is 69-71 Lower Bristol Road, Bath, Avon, BA2 3BE. The principal place of business is Unit B1, Glenmore Business Park, Bridgemead Cl, Westmead, Swindon, SN5 7AU.

These financial statements are presented in Pound Sterling (£) which is the company's functional and presentational currency.

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.

Preparation of consolidated financial statements

The financial statements contain information about APD Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

2% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

Financial instruments

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.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	PROPERTY, PLANT AND EQUIPMENT

Land and

buildings

£

COST

At 1st May 2019

and 30th April 2020

2,174,358

DEPRECIATION

At 1st May 2019

25,549

Charge for year

30,988

At 30th April 2020

56,537

NET BOOK VALUE

At 30th April 2020

2,117,821

At 30th April 2019

2,148,809

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1st May 2019

and 30th April 2020

25

NET BOOK VALUE

At 30th April 2020

25

At 30th April 2019

25

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

7,500

9,980

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

82,096

79,441

Amounts owed to group undertakings

585,576

515,576

Taxation and social security

23,929

6,650

Other creditors

171,930

252,508

863,531

854,175

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

1,181,065

1,251,874

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

1,263,161

1,331,315

A debenture is held over the assets of the company by National Westminster Bank PLC as well as first legal charges over the following properties and associated assets:

- Unit 6, Oaktree Business Park, Swindon, Wiltshire

- 6 Bardel Court, Houndstone Business Park, Yeovil, Somerset

- Units 2 & 3 Aurillac Business Park, Retford, Nottinghamshire

- Butt Close, Glastonbury, Somerset

- Unit B1, Glenmore Business Park, Swindon, Wiltshire

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2020

2019

value:

£

£

4

Share capital 1

£1

4

4

Each Ordinary share carries one full voting right, an entitlement to receive a dividend, and a

return of capital on winding up.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Andrew Beale (Senior Statutory Auditor)

for and on behalf of Morris Owen

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Murray family.

The parent of the largest and smallest group of which the company is a member, and which has included the company in it's financial statements is Automotive Parts Distribution Group Limited. These financial statements are available from the parent company's registered office:

69-71 Lower Bath Road

Bath

Avon

BA2 3BE

14.	OTHER MATTERS

During the year, the World Health Organization declared the spread of Coronavirus Disease (COVID-19) a worldwide pandemic. The COVID-19 pandemic is having significant effects on global markets, supply chains, businesses, and communities. Specific to the company, COVID-19 may impact various parts of its operations and financial results. The directors believe the company is taking appropriate actions to mitigate the negative impact and are optimistic that the company will continue to trade profitably. However, the full impact of COVID-19 is unknown and cannot be reasonable estimated as these events are still developing.