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Registration number: NI636872

AMG Property Maintenance (N.I.) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

AMG Property Maintenance (N.I.) Ltd

(Registration number: NI636872)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

1,733

2,166

Current assets

 

Work in progress

5

4,800

10,150

Debtors

6

320

367

Cash at bank and in hand

 

1,731

2,805

 

6,851

13,322

Creditors: Amounts falling due within one year

7

(2,071)

(12,775)

Net current assets

 

4,780

547

Net assets

 

6,513

2,713

Capital and reserves

 

Called up share capital

8

3

3

Profit and loss account

6,510

2,710

Total equity

 

6,513

2,713

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.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 September 2022
 

 

AMG Property Maintenance (N.I.) Ltd

(Registration number: NI636872)
Balance Sheet as at 31 December 2021

.........................................
Mr William Alexander McGothigan
Director

 

AMG Property Maintenance (N.I.) 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 Northern Ireland.

The address of its registered office is: 27 Hill Street, Ballymena, BT43 6BH.

These financial statements were authorised for issue by the director on 9 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of
goods and services to customers.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

AMG Property Maintenance (N.I.) Ltd

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

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

Motor Vehicles

20% reducing balance basis

Plant and equipment

20% reducing balance basis

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.


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

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the income
statement in operating expenses.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2020 - 1).

 

AMG Property Maintenance (N.I.) Ltd

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

4

Tangible assets

Motor vehicles
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 January 2021

1,095

1,613

2,708

At 31 December 2021

1,095

1,613

2,708

Depreciation

At 1 January 2021

219

323

542

Charge for the year

175

258

433

At 31 December 2021

394

581

975

Carrying amount

At 31 December 2021

701

1,032

1,733

At 31 December 2020

876

1,290

2,166

5

Stocks

2021
£

2020
£

Work in progress

4,800

10,150

6

Debtors

2021
£

2020
£

Prepayments

320

367

7

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Directors current account

-

4,413

Accruals

600

660

Other creditors

1,471

7,702

2,071

12,775

 

AMG Property Maintenance (N.I.) Ltd

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

8

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3

         

9

Related party transactions

The following amount was owed to the director at the year end:-

2021

2020

£

£

Directors loan account

-

4,413