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REGISTERED NUMBER:
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API Capacitors Ltd |
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Unaudited financial statements |
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For the year ended |
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31st December 2018 |
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REGISTERED NUMBER:
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API Capacitors Ltd |
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Unaudited financial statements |
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For the year ended |
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31st December 2018 |
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API Capacitors Ltd (Registered number: 05973439) |
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Contents of the financial statements |
For The Year Ended 31st December 2018 |
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Page |
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Company information | 1 |
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Balance sheet | 2 | to | 3 |
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Notes to the financial statements | 4 | to | 7 |
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API Capacitors Ltd |
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Company information |
For The Year Ended 31st December 2018 |
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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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Accountants: |
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Chartered Accountants |
97 Yarmouth Road |
Norwich |
Norfolk |
NR7 0HF |
API Capacitors Ltd (Registered number: 05973439) |
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Balance sheet |
31st December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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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 |
7 |
( |
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( |
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Provisions for liabilities | ( |
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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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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
API Capacitors Ltd (Registered number: 05973439) |
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Balance sheet - continued |
31st December 2018 |
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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
behalf by: |
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API Capacitors Ltd (Registered number: 05973439) |
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Notes to the financial statements |
For The Year Ended 31st December 2018 |
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1. | Statutory information |
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API Capacitors Ltd 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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Turnover |
Turnover represents net invoiced sales of goods and services excluding value added tax. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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. |
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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 balance sheet 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 |
balance sheet 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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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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API Capacitors Ltd (Registered number: 05973439) |
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Notes to the financial statements - continued |
For The Year Ended 31st December 2018 |
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2. | Accounting policies - continued |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange |
ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating |
result. |
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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. |
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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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3. | Employees and directors |
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The average number of employees during the year was
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4. | Tangible fixed assets |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1st January 2018 |
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Additions |
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Disposals |
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At 31st December 2018 |
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Depreciation |
At 1st January 2018 |
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Charge for year |
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At 31st December 2018 |
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Net book value |
At 31st December 2018 |
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At 31st December 2017 |
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API Capacitors Ltd (Registered number: 05973439) |
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Notes to the financial statements - continued |
For The Year Ended 31st December 2018 |
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4. | Tangible fixed assets - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
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Cost |
At 1st January 2018 |
and 31st December 2018 |
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Depreciation |
At 1st January 2018 |
and 31st December 2018 |
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Net book value |
At 31st December 2018 |
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At 31st December 2017 |
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5. | Debtors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | Creditors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | Creditors: amounts falling due after more than one year |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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Other creditors |
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API Capacitors Ltd (Registered number: 05973439) |
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Notes to the financial statements - continued |
For The Year Ended 31st December 2018 |
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8. | Related party disclosures |
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During the year the company loaned amounts to API Cognition Ltd, a company in which T C Baggott, D M |
Robinson and M J Robinson own 25% of the allotted share capital. At the end of the year API Cognition Ltd |
owed API Capacitors Ltd £24,600 (2017: £1,000). |
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During the year the company was loaned amounts from API Stone Ltd, a company in which T C Baggott, D M |
Robinson and M J Robinson own 60% of the allotted share capital. At the end of the year API Capacitors Ltd |
owed API Stone Ltd £5,000 (2017: £Nil). |
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During the year the company made sales of £500 (2017: £113) to PPI Engineering Ltd, a company in which |
API Holdings Ltd owns 39.39% of the allotted share capital. M J Robinson is also a director of PPI Engineering |
Ltd. The balance in debtors at 31 December 2018 relating to those sales was £646 (2017: £46). |
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During the year the company also made purchases of £23,175 (2017: £4,822) from PPI Engineering Ltd. The |
balance in creditors at 31 December 2018 relating to those sales was £24,596 (2017: £nil). |
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During the year the company loaned amounts to PPI Engineering Ltd, at the year end PPI Engineering Ltd |
owed £1,167 (2017: £2,055). |
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9. | Ultimate controlling party |
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APIE Holdings Limited owns 100% of the issued share capital and is deemed the ultimate controlling party. |