Company Registration No. 06908056 (England and Wales)
APS International Limited
Annual report and accounts
for the year ended 31 May 2023
APS International Limited
Annual report and accounts
Contents
APS International Limited
Company Information
for the year ended 31 May 2023
Directors
Lamin Sanneh
Sait Ceesay
Seedia Jaiteh
Company Number
06908056 (England and Wales)
Registered Office
City Gate House
26 Moat Lane
Birmingham
B5 5BD
Accountants
Albert Bass
Mai Accountants & Tax Advisers Limited
176 Kings Drive
Eastbourne
East Sussex
BN21 2YJ
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
APS International Limited
for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
APS International Limited for the year ended
31 May 2023 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of APS International Limited, as a body, in accordance with the terms of our engagement letter dated 1 January 2010. Our work has been undertaken solely to prepare for your approval the accounts of APS International Limited and state those matters that we have agreed to state to the Board of Directors of APS International Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than APS International Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that APS International Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of APS International Limited. You consider that APS International Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of APS International Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Albert Bass
Chartered Certified Accountants
Mai Accountants & Tax Advisers Limited
176 Kings Drive
Eastbourne
East Sussex
BN21 2YJ
29 June 2023
APS International Limited
Statement of financial position
as at 31 May 2023
Intangible assets
365,921
301,023
Tangible assets
67,200
32,183
Investments
153,790
116,895
Cash at bank and in hand
4,283,946
4,235,411
Creditors: amounts falling due within one year
(2,463,150)
(2,737,579)
Net current assets
2,506,769
2,041,853
Total assets less current liabilities
3,093,680
2,491,954
Creditors: amounts falling due after more than one year
5,563
-
Provisions for liabilities
Other provisions
(76,454)
(176,454)
Net assets
3,022,789
2,315,500
Called up share capital
2
2
Profit and loss account
3,022,787
2,315,498
Shareholders' funds
3,022,789
2,315,500
For the year ending 31 May 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 26 June 2023 and were signed on its behalf by
Lamin Sanneh
Director
Company Registration No. 06908056
APS International Limited
Notes to the Accounts
for the year ended 31 May 2023
APS International Limited is a private company, limited by shares, registered in England and Wales, registration number 06908056. The registered office is City Gate House, 26 Moat Lane, Birmingham, B5 5BD.
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, where applicable.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Intangible fixed asset - Appoly App - is included at cost less accumulated amortisation. The amortisation is calculated over a period of 10 years.
APS International Limited
Notes to the Accounts
for the year ended 31 May 2023
4
Intangible fixed assets
Other
Represents development cost of a mobile APP.
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2022
949
24,850
8,697
38,224
72,720
Additions
1,482
55,268
-
6,646
63,396
At 31 May 2023
2,431
80,118
8,697
44,870
136,116
At 1 June 2022
253
6,213
5,487
28,584
40,537
Charge for the year
335
18,477
592
8,975
28,379
At 31 May 2023
588
24,690
6,079
37,559
68,916
At 31 May 2023
1,843
55,428
2,618
7,311
67,200
At 31 May 2022
696
18,637
3,210
9,640
32,183
6
Investments
Subsidiary undertakings
Valuation at 1 June 2022
116,895
Valuation at 31 May 2023
153,790
Investments in subsidiaries are valued at cost as follows:
- APS International AB - £116895
APS International Limited
Notes to the Accounts
for the year ended 31 May 2023
Amounts falling due within one year
Amounts due from group undertakings etc.
-
6,409
Accrued income and prepayments
17,722
25,718
Other debtors
425,948
414,551
Amounts falling due after more than one year
Other debtors
85,077
97,343
8
Creditors: amounts falling due within one year
2023
2022
Trade creditors
51,576
83,994
Taxes and social security
243,542
309,593
Other creditors
2,062,417
2,322,426
Trade creditors - These represent client money held as at the end of the year
Other creditors - These represent amounts collected on behalf of related parties APS USA and APS Sweden, who have authorised APS Intenational to send these funds on their behalf to APS Gambia to pay out.
9
Creditors: amounts falling due after more than one year
2023
2022
Taxes and social security
(5,563)
-
Corporation tax - prior year adjustment.
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
11
Average number of employees
During the year the average number of employees was 15 (2022: 15).