AMCO Construction Consultants Ltd. 11804722 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of quantity surveying activities. Digita Accounts Production Advanced 6.30.9574.0 true true 11804722 2022-03-01 2023-02-28 11804722 2023-02-28 11804722 core:RetainedEarningsAccumulatedLosses 2023-02-28 11804722 core:ShareCapital 2023-02-28 11804722 core:CurrentFinancialInstruments 2023-02-28 11804722 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 11804722 core:Non-currentFinancialInstruments 2023-02-28 11804722 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 11804722 core:MotorVehicles 2023-02-28 11804722 core:OfficeEquipment 2023-02-28 11804722 bus:SmallEntities 2022-03-01 2023-02-28 11804722 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11804722 bus:FullAccounts 2022-03-01 2023-02-28 11804722 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 11804722 bus:RegisteredOffice 2022-03-01 2023-02-28 11804722 bus:CompanySecretary1 2022-03-01 2023-02-28 11804722 bus:Director1 2022-03-01 2023-02-28 11804722 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11804722 core:ComputerEquipment 2022-03-01 2023-02-28 11804722 core:MotorVehicles 2022-03-01 2023-02-28 11804722 core:OfficeEquipment 2022-03-01 2023-02-28 11804722 countries:EnglandWales 2022-03-01 2023-02-28 11804722 2022-02-28 11804722 core:MotorVehicles 2022-02-28 11804722 core:OfficeEquipment 2022-02-28 11804722 2021-03-01 2022-02-28 11804722 2022-02-28 11804722 core:RetainedEarningsAccumulatedLosses 2022-02-28 11804722 core:ShareCapital 2022-02-28 11804722 core:CurrentFinancialInstruments 2022-02-28 11804722 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 11804722 core:Non-currentFinancialInstruments 2022-02-28 11804722 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 11804722 core:MotorVehicles 2022-02-28 11804722 core:OfficeEquipment 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 11804722

AMCO Construction Consultants Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

AMCO Construction Consultants Ltd.

Contents

Company Information

1

Balance Sheet

2 to 3

Director responsibilities

3

Notes to the Unaudited Financial Statements

4 to 10

 

AMCO Construction Consultants Ltd.

Company Information

Director

Mr MR Butler

Company secretary

Mrs CE Butler

Registered office

1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

AMCO Construction Consultants Ltd.

(Registration number: 11804722)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,189

15,765

Current assets

 

Debtors

5

12,390

12,894

Cash at bank and in hand

 

21,670

16,684

 

34,060

29,578

Creditors: Amounts falling due within one year

6

(26,397)

(17,293)

Net current assets

 

7,663

12,285

Total assets less current liabilities

 

19,852

28,050

Creditors: Amounts falling due after more than one year

6

(16,338)

(24,943)

Provisions for liabilities

(3,047)

(2,991)

Net assets

 

467

116

Capital and reserves

 

Called up share capital

100

100

Retained earnings

367

16

Shareholders' funds

 

467

116

 

AMCO Construction Consultants Ltd.

(Registration number: 11804722)
Balance Sheet as at 28 February 2023 (continued)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 October 2023
 

.........................................
Mr MR Butler
Director

   
     

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.

 

AMCO Construction Consultants Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

AMCO Construction Consultants Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 11804722 and registered office address is as follows:

1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ
 

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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.

Going concern

The financial statements are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company’s ability to continue as a going concern.

 

AMCO Construction Consultants Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Government grants

Grants are accounted for under the accruals model permitted by FRS102. Grants relating to expenditure on tangible assets are credited to the profit and loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

Finance income and costs policy

Interest income is recognised in the profit and loss account using the effective interest method.

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

 

AMCO Construction Consultants Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Motor vehicles

25% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

AMCO Construction Consultants Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

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 made where an event has taken place that gives the Companies a legal or constructive obligation, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision in the Balance sheet.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

AMCO Construction Consultants Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

2,282

20,990

23,272

Additions

571

-

571

At 28 February 2023

2,853

20,990

23,843

Depreciation

At 1 March 2022

2,259

5,248

7,507

Charge for the year

211

3,936

4,147

At 28 February 2023

2,470

9,184

11,654

Carrying amount

At 28 February 2023

383

11,806

12,189

At 28 February 2022

23

15,742

15,765

5

Debtors

Current

2023
£

2022
£

Trade debtors

12,390

9,390

Other debtors

-

3,504

 

12,390

12,894

 

AMCO Construction Consultants Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

8,626

8,271

Trade creditors

 

42

-

Taxation and social security

 

16,107

7,447

Accruals and deferred income

 

1,622

1,575

 

26,397

17,293

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

16,338

24,943

The company received an unsecured loan under the UK Government Bounce Back Loan Scheme, which has the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. Repayments commenced in October 2021.

The BBLS loan has been recognised at its present value.

During the period, the company recognised interest payable of £383 in connection with the BBLS loan facility.

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

9,595

13,192

HP and finance lease liabilities

6,743

11,751

16,338

24,943

 

AMCO Construction Consultants Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

7

Loans and borrowings (continued)

2023
£

2022
£

Current loans and borrowings

Bank borrowings

3,606

3,606

Hire purchase liabilities

5,008

4,665

Directors current account

12

-

8,626

8,271

8

Related party transactions

Advances to the director amounts to £nil (202 £3,255) and repayments from the director amounts to £3,667 (2022 £nil) during the year. At the balance sheet date the amount owed to the director by the company was £412 (2022 (£3,255) ), which was fully repayable on demand.