IRIS Accounts Production v23.3.1.45 07968601 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079686012022-03-31079686012023-03-31079686012022-04-012023-03-31079686012021-03-31079686012021-04-012022-03-31079686012022-03-3107968601ns10:Originalns15:EnglandWales2022-04-012023-03-3107968601ns14:PoundSterlingns10:Original2022-04-012023-03-3107968601ns10:Originalns10:Director12022-04-012023-03-3107968601ns10:Original2022-04-012023-03-3107968601ns10:Originalns10:Director22022-04-012023-03-3107968601ns10:Original2023-03-3107968601ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3107968601ns10:Originalns10:SmallEntities2022-04-012023-03-3107968601ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3107968601ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3107968601ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3107968601ns10:Originalns10:FullAccounts2022-04-012023-03-3107968601ns10:Originalns10:RegisteredOffice2022-04-012023-03-3107968601ns10:Original2022-03-3107968601ns10:Originalns5:CurrentFinancialInstruments2023-03-3107968601ns10:Originalns5:CurrentFinancialInstruments2022-03-3107968601ns10:Originalns5:Non-currentFinancialInstruments2023-03-3107968601ns10:Originalns5:Non-currentFinancialInstruments2022-03-3107968601ns5:ShareCapitalns10:Original2023-03-3107968601ns5:ShareCapitalns10:Original2022-03-3107968601ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3107968601ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3107968601ns10:Originalns5:PlantMachinery2022-04-012023-03-3107968601ns10:Originalns5:MotorVehicles2022-04-012023-03-3107968601ns10:Originalns5:ComputerEquipment2022-04-012023-03-3107968601ns10:Original2021-04-012022-03-3107968601ns10:Originalns5:PlantMachinery2022-03-3107968601ns10:Originalns5:MotorVehicles2022-03-3107968601ns10:Originalns5:ComputerEquipment2022-03-3107968601ns10:Original2022-03-3107968601ns10:Originalns5:PlantMachinery2023-03-3107968601ns10:Originalns5:MotorVehicles2023-03-3107968601ns10:Originalns5:ComputerEquipment2023-03-3107968601ns10:Originalns5:PlantMachinery2022-03-3107968601ns10:Originalns5:MotorVehicles2022-03-3107968601ns10:Originalns5:ComputerEquipment2022-03-3107968601ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107968601ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: 07968601 (England and Wales)












REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

AMI VEHICLE LEASING LTD

AMI VEHICLE LEASING LTD (REGISTERED NUMBER: 07968601)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


AMI VEHICLE LEASING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: N Hainsby
D R Moore





REGISTERED OFFICE: 16-20 Millers Yard
Parliament Square
Hertford
Hertfordshire
SG14 1EZ





REGISTERED NUMBER: 07968601 (England and Wales)





ACCOUNTANTS: Cook & Partners Limited
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

AMI VEHICLE LEASING LTD (REGISTERED NUMBER: 07968601)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2023

The directors present their report with the financial statements of the company for the year ended 31st March 2023.

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

N Hainsby
D R Moore

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:





N Hainsby - Director


15th November 2023

AMI VEHICLE LEASING LTD (REGISTERED NUMBER: 07968601)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,686,828 1,735,049

CURRENT ASSETS
Stocks 2,500 -
Debtors 5 3,381,484 3,320,097
Cash at bank and in hand 97,064 107,433
3,481,048 3,427,530
CREDITORS
Amounts falling due within one year 6 1,888,445 2,341,783
NET CURRENT ASSETS 1,592,603 1,085,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,279,431

2,820,796

CREDITORS
Amounts falling due after more than one
year

7

2,880,154

2,469,841
NET ASSETS 399,277 350,955

CAPITAL AND RESERVES
Called up share capital 112 112
Retained earnings 399,165 350,843
399,277 350,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

AMI VEHICLE LEASING LTD (REGISTERED NUMBER: 07968601)

BALANCE SHEET - continued
31ST MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th November 2023 and were signed on its behalf by:




N Hainsby - Director



D R Moore - Director


AMI VEHICLE LEASING LTD (REGISTERED NUMBER: 07968601)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

AMI Vehicle Leasing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Accounting convention
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.

Going Concern Justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31 March 2021 have been prepared using the going concern basis of accounting.

Revenue
Revenue - Described as turnover is the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the provision of services once completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 33% on cost
Motor vehicles - Over the term of the lease
Computer equipment - 33% on cost

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 their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


AMI VEHICLE LEASING LTD (REGISTERED NUMBER: 07968601)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 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.

Leased assets
Where assets are financed by leasing agreements that give rights approximately to ownership ("finance leases") the assets are treated as if they had been purchased in the same manner as with a Hire Purchase Contract.

All other leases are treated as "operating leases" and the relevant annual rentals are charged to the profit and loss account on a sum of the digits basis over the lease term; unless they relate to vacant leasehold properties in which case provision is made on a discounted basis for the net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar charges.

The company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard (1 January 2014) to continue to be charged over the period to the first market rent review rather than the term of the lease. For leases entered into on or after 1 January 2014, reverse premiums and similar incentives received to enter into operating lease agreements are released to profit or loss over the term 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 4 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2022 905 2,760,400 21,874 2,783,179
Additions 976 820,450 2,468 823,894
Disposals - (933,153 ) (12,705 ) (945,858 )
At 31st March 2023 1,881 2,647,697 11,637 2,661,215
DEPRECIATION
At 1st April 2022 905 1,030,690 16,535 1,048,130
Charge for year 322 489,258 4,386 493,966
Eliminated on disposal - (555,004 ) (12,705 ) (567,709 )
At 31st March 2023 1,227 964,944 8,216 974,387
NET BOOK VALUE
At 31st March 2023 654 1,682,753 3,421 1,686,828
At 31st March 2022 - 1,729,710 5,339 1,735,049

AMI VEHICLE LEASING LTD (REGISTERED NUMBER: 07968601)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 601,222 578,025
Other debtors 2,780,262 2,742,072
3,381,484 3,320,097

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 39,775 30,333
Hire purchase contracts 1,572,381 2,092,182
Trade creditors 33,737 29,295
Taxation and social security 14,246 2,820
Other creditors 228,306 187,153
1,888,445 2,341,783

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 99,421 139,196
Hire purchase contracts 2,780,733 2,330,645
2,880,154 2,469,841

8. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the year end of £18,000 (2022: £18,000).

9. RELATED PARTY DISCLOSURES

The Funding and Loan Finance Liabilities within Creditors of £4,323,113 (2022: £4,359,827) have been personally guaranteed by the Directors, N Hainsby and D Moore.