It's "terrifying," the actress and business owner says of how quickly her daughter is growing up

The older Apple Martin gets, the more she’s turning into mother Gwyneth Paltrow‘s mini-me.

The 43-year-old actress’ daughter is quickly transitioning from a tween to a teen — and Paltrow says it’s absolutely “terrifying.”

“Apple just turned 12 years old, and I cannot believe it,” Paltrow told PEOPLE exclusively at the SVEDKA Country Club in Los Angeles to celebrate their new vodka flavor, Cucumber Lime. “She’s so tall and she really has her own life.”

Credit: Cindy Ord/Getty Images; Source: Gwyneth Paltrow Instagram

Cindy Ord/Getty Images; Gwyneth Paltrow/Instagram

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Paltrow and ex Chris Martin reunited in May to celebrate Apple’s 12th birthday at Disneyland, along with their 10-year-old son Moses. She and the Coldplay frontman announced their separation in March 2014 after 10 years of marriage, but have maintained a very healthy conscious uncoupling relationship for the kids.

While the Iron Man actress’ millions of fans can find many adorable photos of Apple on her social media, Paltrow secured strict guidelines when it came time for her daughter to get her own account — and furthermore, her own phone.

“It’s crazy — her phone and her texting and her social media,” she says, adding that her daughter’s accounts are private.

She continues, on finally giving in to getting Apple a cell phone, “I waited as long as I could. She was the last one of her friends to get a phone.”

And it turns out the mother-daughter duo have much more in common than just their looks.

“[Apple] is very into cooking, beauty, makeup — she watches YouTube tutorials a lot — very into fashion,” says the actress-turned-food-writer, who just released her third cookbook, It’s All Easy.

Nicole Sands