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Registration number: 04455557

AMPM247.com Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

AMPM247.com Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

AMPM247.com Ltd

Company Information

Directors

Mr D A R Heaton

Mr J T Barnfield

Registered office

Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

Accountants

Regulatory Accounting Ltd
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

AMPM247.com Ltd

(Registration number: 04455557)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

47,730

91,434

Current assets

 

Stocks

5

12,385

-

Debtors

6

481,377

680,994

Cash at bank and in hand

 

451,169

173,818

 

944,931

854,812

Creditors: Amounts falling due within one year

7

(743,349)

(612,410)

Net current assets

 

201,582

242,402

Total assets less current liabilities

 

249,312

333,836

Creditors: Amounts falling due after more than one year

7

-

(200,000)

Provisions for liabilities

(8,790)

(17,076)

Net assets

 

240,522

116,760

Capital and reserves

 

Called up share capital

1

1

Capital redemption reserve

2

2

Profit and loss account

240,519

116,757

Shareholders' funds

 

240,522

116,760

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

AMPM247.com Ltd

(Registration number: 04455557)
Balance Sheet as at 31 December 2021

Approved and authorised by the Board on 18 August 2022 and signed on its behalf by:
 

.........................................

Mr D A R Heaton
Director

.........................................

Mr J T Barnfield
Director

 

AMPM247.com Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal place of business is:
The Site
24 Chosen View Road
Cheltenham
Gloucestershire
GL51 9LT
England

The address of its registered office is:
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE
England

These financial statements were authorised for issue by the Board on 18 August 2022.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability of the company to continue as a going concern havebeen identified by the directors.

The directors are aware of the cost pressures that the company and its customers are under. Agreements are reviewed on a regular basis to ensure appropriate cost recovery and efficiency.

 

AMPM247.com Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when projects are completed or for long term projects when milestones are met.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on cost

Motor Vehicles

25% on cost

Office equipment

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

AMPM247.com Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to theri present location and condition.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet and that a payment will be required in settlement that can be estimated reliably. Where materials, provisions are calculated on a discounted basis,

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

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.

Financial instruments

Classification
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
 

 

AMPM247.com Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2020 - 30).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2021

27,360

214,053

57,522

298,935

Additions

1,562

-

2,396

3,958

Disposals

-

(25,109)

-

(25,109)

At 31 December 2021

28,922

188,944

59,918

277,784

Depreciation

At 1 January 2021

20,710

129,853

56,938

207,501

Charge for the year

2,607

39,210

794

42,611

Eliminated on disposal

-

(20,058)

-

(20,058)

At 31 December 2021

23,317

149,005

57,732

230,054

Carrying amount

At 31 December 2021

5,605

39,939

2,186

47,730

At 31 December 2020

6,650

84,200

584

91,434

5

Stocks

2021
£

2020
£

Work in progress

12,385

-

6

Debtors

2021
£

2020
£

Trade debtors

438,076

463,026

Prepayments

15,127

13,019

Other debtors

28,174

204,949

481,377

680,994

 

AMPM247.com Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

8

200,000

200,000

Trade creditors

 

212,302

185,848

Taxation and social security

 

238,804

94,752

Accruals and deferred income

 

84,873

27,054

Other creditors

 

7,370

104,756

 

743,349

612,410

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

-

200,000

8

Secured Debts

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

-

200,000

2021
£

2020
£

Current loans and borrowings

Bank borrowings

200,000

-

Other borrowings

-

200,000

200,000

200,000

The company has a debenture with Clydesdale Bank PLC with the amount secured being all monies due or to become due from the company to the chargee on any account whatsoever.

The debenture contains fixed and floating charges over the undertaking and all property and assets present and future including goodwill, bookdebts, uncalled capital buildings, fixtures and fixed plant and machinery.

 

AMPM247.com Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

9

Related party transactions

Directors' advances, credits and guarantees

2021

At 1 January 2021
£

Advances to directors
£

Repayments by director
£

At 31 December 2021
£

Mr D A R Heaton

100,386

(140,224)

40,740

902

         
       

Mr J T Barnfield

286

(37,684)

37,996

598

         
       

 

There is no interest accruing and the balance due to the directors is repayable on demand.

2020

At 1 January 2020
£

Advances to directors
£

Repayments by director
£

At 31 December 2020
£

Mr D A R Heaton

8,400

(8,400)

100,386

100,386

         
       

Mr J T Barnfield

-

-

286

286