Company registration number 04026281 (England and Wales)
AMI-CON SUPPLIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
AMI-CON SUPPLIES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
AMI-CON SUPPLIES LTD (REGISTERED NUMBER: 04026281)
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,417
10,983
Current assets
Stocks
428,855
333,054
Debtors
4
522,452
567,834
Cash at bank and in hand
371,549
616,236
1,322,856
1,517,124
Creditors: amounts falling due within one year
5
(167,892)
(508,688)
Net current assets
1,154,964
1,008,436
Net assets
1,168,381
1,019,419
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
1,168,379
1,019,417
Total equity
1,168,381
1,019,419

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 13 November 2023 and are signed on its behalf by:
Mr Paul Palmer
Director
AMI-CON SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Ami-Con Supplies Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Units 9 & 10, Buckingham Road, Towcester, Northamptonshire, NN12 8TJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
3 years straight line
Plant and equipment
20% per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

AMI-CON SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
13
11
AMI-CON SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Total
£
£
£
Cost
At 1 April 2022
16,473
124,890
141,363
Additions
-
0
3,042
3,042
At 31 March 2023
16,473
127,932
144,405
Depreciation and impairment
At 1 April 2022
5,491
124,889
130,380
Depreciation charged in the year
-
0
608
608
At 31 March 2023
5,491
125,497
130,988
Carrying amount
At 31 March 2023
10,982
2,435
13,417
At 31 March 2022
10,982
1
10,983
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
444,033
488,899
Other debtors
78,419
78,935
522,452
567,834
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
80,434
354,883
Taxation and social security
80,724
130,635
Other creditors
6,734
23,170
167,892
508,688
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