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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017 |
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APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017 |
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FOR |
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APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED |
APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04246800) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 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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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Crane Court |
302 London Road |
Ipswich |
Suffolk |
IP2 0AJ |
APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04246800) |
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STATEMENT OF FINANCIAL POSITION |
31 JULY 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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PROVISIONS FOR LIABILITIES | 11 | ( |
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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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APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04246800) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 JULY 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04246800) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
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1. | STATUTORY INFORMATION |
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Apollo Capital Projects Development Limited is a
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England and Wales. The company's 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 in accordance with |
FRS102. There are no transitional adjustments required. |
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Turnover |
Turnover represents the amounts (excluding value added tax) derived from the provision of goods and |
services to customers, and in the case of long term contracts, the value of the work done during the |
year. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Long term contracts are stated at net cost less forseeable losses less any applicable payments on |
account. The amount recorded as turnover in respect of long term contracts is ascertained by |
reference to the value of the work carried out to date. Attributable profit is recognised as the |
difference between recorded turnover and related costs. |
APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04246800) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of |
financial assets and liabilities like trade and other accounts receivable and payable and loans with |
related parties. |
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Debt instruments that are payable or receivable within one year, such as trade payables or receivables, |
are measured at the undiscounted amount of the cash or other consideration expected to be paid or |
received. Debt instruments that are repayable or receivable after one year are initially measured at the |
present value of the future cash flows and subsequently at amortised cost using the effective interest |
method. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each financial |
year for evidence of impairment. If objective evidence of impairment is found an impairment loss is |
recognised in the Income Statement. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held |
under finance leases are depreciated over their estimated useful lives or the lease term, whichever is |
the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04246800) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
The financial statements are prepared on a going concern basis, which the Directors consider is |
appropriate for the reasons set out below. |
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The loss of £116,758 and reduced turnover in the year ended 31 July 2017 were anticipated, resulting |
from the company's continuing investment in its future pipeline and reflects the normal cycle of |
development. The company begins the new financial year with net current assets of £334,212 and |
cash at bank of £261,491. |
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The company continues to work in its core medical property development and investment markets |
throughout the UK. The loss this year primarily represents the company's investment in developing a |
significant and growing pipeline of 3PD primary care developments, on which it has been appointed |
preferred developer, and as a shareholder in hub West Scotland Ltd (hWS), a major long-term PPP |
development framework, sponsored by the Scottish Government. The company expects its investment |
during this period, to deliver a return to profit in the next financial year, including returns from a |
£1.35m medical training centre in Manchester which reached financial close in August 2017, and its |
ongoing involvement in hWS. |
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The directors have prepared projected cash flow information. On the basis of this cash flow |
information the directors consider that the company will be able to continue in operational existence |
for the foreseeable future. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04246800) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2016 |
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Additions |
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At 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
Additions |
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At 31 July 2017 |
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DEPRECIATION |
Charge for year |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04246800) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 August 2016 |
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Additions |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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6. | STOCKS |
2017 | 2016 |
£ | £ |
Net costs recoverable | 58,755 | - |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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APOLLO CAPITAL PROJECTS DEVELOPMENT |
LIMITED (REGISTERED NUMBER: 04246800) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Hire purchase contracts | 39,753 | - |
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The debt is secured on the relevant asset. |
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11. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 739 | 92 |
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Deferred |
tax |
£ |
Balance at 1 August 2016 |
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Charge to Income Statement during year |
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Balance at 31 July 2017 |
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12. | 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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13. | OTHER FINANCIAL COMMITMENTS |
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At 31 July 2017 the company had total future minimum lease payments under non-cancellable |
operating leases of £16,121 (2016 - £22,904). |