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REGISTERED NUMBER: 03633177 (England and Wales)









Report of the Directors and

Unaudited Financial Statements

for the Year Ended 30 April 2023

for

A M P Wire Limited

A M P Wire Limited (Registered number: 03633177)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Report of the Directors 1

Balance Sheet 2

Notes to the Financial Statements 4


A M P Wire Limited (Registered number: 03633177)

Report of the Directors
for the Year Ended 30 April 2023

The directors present their report with the financial statements of the company for the year ended 30 April 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of manufacture of wire products.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2022 to the date of this report.

Mrs P Pelham
Mrs N M Mawdsley
Ms G Hopwood

Other changes in directors holding office are as follows:

Mr M Woodward was appointed as a director after 30 April 2023 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs P Pelham - Director


8 September 2023

A M P Wire Limited (Registered number: 03633177)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 15,083 18,790
Tangible assets 5 186,404 107,407
201,487 126,197

CURRENT ASSETS
Stocks 95,743 102,019
Debtors 6 184,300 263,037
Cash at bank and in hand 260,649 342,791
540,692 707,847
CREDITORS
Amounts falling due within one year 7 (395,415 ) (518,404 )
NET CURRENT ASSETS 145,277 189,443
TOTAL ASSETS LESS CURRENT LIABILITIES 346,764 315,640

CREDITORS
Amounts falling due after more than one
year

8

(106,605

)

(111,000

)

PROVISIONS FOR LIABILITIES (21,850 ) (10,362 )
NET ASSETS 218,309 194,278

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 218,209 194,178
SHAREHOLDERS' FUNDS 218,309 194,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)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.

A M P Wire Limited (Registered number: 03633177)

Balance Sheet - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2023 and were signed on its behalf by:





Mrs P Pelham - Director


A M P Wire Limited (Registered number: 03633177)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

A M P Wire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03633177

Registered office: Sun Iron Works
Ward Street
Chadderton
Oldham
OL9 9EX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


A M P Wire Limited (Registered number: 03633177)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 May 2022 57,436
Additions 1,860
At 30 April 2023 59,296
AMORTISATION
At 1 May 2022 38,646
Amortisation for year 5,567
At 30 April 2023 44,213
NET BOOK VALUE
At 30 April 2023 15,083
At 30 April 2022 18,790

A M P Wire Limited (Registered number: 03633177)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2022 52,870 91,449 116,633
Additions 21,425 2,476 15,482
Disposals - - -
At 30 April 2023 74,295 93,925 132,115
DEPRECIATION
At 1 May 2022 - 68,992 109,059
Charge for year - 5,883 3,273
Eliminated on disposal - - -
At 30 April 2023 - 74,875 112,332
NET BOOK VALUE
At 30 April 2023 74,295 19,050 19,783
At 30 April 2022 52,870 22,457 7,574

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 49,313 54,852 365,117
Additions 71,459 284 111,126
Disposals (47,843 ) - (47,843 )
At 30 April 2023 72,929 55,136 428,400
DEPRECIATION
At 1 May 2022 33,461 46,198 257,710
Charge for year 8,329 2,209 19,694
Eliminated on disposal (35,408 ) - (35,408 )
At 30 April 2023 6,382 48,407 241,996
NET BOOK VALUE
At 30 April 2023 66,547 6,729 186,404
At 30 April 2022 15,852 8,654 107,407

A M P Wire Limited (Registered number: 03633177)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2022 47,843
Additions 71,459
Disposals (47,843 )
At 30 April 2023 71,459
DEPRECIATION
At 1 May 2022 33,461
Charge for year 8,329
Eliminated on disposal (35,408 )
At 30 April 2023 6,382
NET BOOK VALUE
At 30 April 2023 65,077
At 30 April 2022 14,382

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 155,254 224,887
Other debtors 29,046 38,150
184,300 263,037

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 36,000 36,000
Hire purchase contracts (see note 9) 12,847 2,046
Trade creditors 151,025 290,692
Taxation and social security 93,739 113,400
Other creditors 101,804 76,266
395,415 518,404

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans 75,000 111,000
Hire purchase contracts (see note 9) 31,605 -
106,605 111,000

A M P Wire Limited (Registered number: 03633177)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.23 30.4.22
£    £   
Net obligations repayable:
Within one year 12,847 2,046
Between one and five years 31,605 -
44,452 2,046

Non-cancellable operating leases
30.4.23 30.4.22
£    £   
Within one year 7,053 -

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 111,000 147,000
Hire purchase contracts 44,452 2,046
155,452 149,046

Hire purchase creditors are secured on the assets to which they relate.