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COMPANY REGISTRATION NUMBER: 05880356
AMCO CONSULTANCY LIMITED
Unaudited Financial Statements
31 August 2023
AMCO CONSULTANCY LIMITED
Financial Statements
Year ended 31 August 2023
Contents
Page
Officers and professional advisers
1
Directors' report
2
Income statement
3
Statement of financial position
4
Statement of changes in equity
6
Notes to the financial statements
7
The following pages do not form part of the financial statements
Accountant report to the board of directors on the preparation of the unaudited statutory financial statements
12
AMCO CONSULTANCY LIMITED
Officers and Professional Advisers
The board of directors
Ms Shital Amin
Dr Nishal Amin
Ms Nita Amin
Company secretary
Ms Shital Amin
Registered office
9 Dukes Avenue
Harrow
Middlesex
HA1 1XP
Accountant
P A AMIN
Accountant
781-783 Harrow Road
Sudbury Town
Wembley
Middlesex
HA0 2LP
Bankers
NATIONAL WESTMINISTER
North Surrey Business Centre
Unit 13 St Nicholas Centre
SUTTON
Surrey
SM1 1ZD
AMCO CONSULTANCY LIMITED
Directors' Report
Year ended 31 August 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 August 2023 .
Principal activities
The principal activity of the company during the year was that to provide medical and any other professional services demanded by the customers. Your company acquired a freehold investment property during february 2022 and has received rental income of £33,775 (2022 £18,620) in addition to consultancy fees of £10,878 (2022 £9160)
Directors
The directors who served the company during the year were as follows:
Ms Shital Amin
Dr Nishal Amin
Ms Nita Amin
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 11 December 2023 and signed on behalf of the board by:
Ms Shital Amin
Company Secretary
Registered office:
9 Dukes Avenue
Harrow
Middlesex
HA1 1XP
AMCO CONSULTANCY LIMITED
Income Statement
Year ended 31 August 2023
2023
2022
Note
£
£
Turnover
44,653
27,780
--------
--------
Gross profit
44,653
27,780
Administrative expenses
24,119
18,925
--------
--------
Operating profit
20,534
8,855
Interest payable and similar expenses
3,307
3,668
--------
--------
Profit before taxation
5
17,227
5,187
Tax on profit
3,052
--------
-------
Profit for the financial year
14,175
5,187
--------
-------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
AMCO CONSULTANCY LIMITED
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
677,278
678,373
Current assets
Debtors
7
1,625
Cash at bank and in hand
2,961
4,639
-------
-------
4,586
4,639
Creditors: amounts falling due within one year
8
150,810
168,480
---------
---------
Net current liabilities
146,224
163,841
---------
---------
Total assets less current liabilities
531,054
514,532
Creditors: amounts falling due after more than one year
9
494,790
492,463
---------
---------
Net assets
36,264
22,069
---------
---------
Capital and reserves
Called up share capital
80
60
Profit and loss account
36,184
22,009
--------
--------
Shareholders funds
36,264
22,069
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AMCO CONSULTANCY LIMITED
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 11 December 2023 , and are signed on behalf of the board by:
Ms Shital Amin
Dr Nishal Amin
Director
Director
Ms Nita Amin
Director
Company registration number: 05880356
AMCO CONSULTANCY LIMITED
Statement of Changes in Equity
Year ended 31 August 2023
Called up share capital
Profit and loss account
Total
£
£
£
At 1 September 2021
60
16,822
16,882
Profit for the year
5,187
5,187
----
--------
--------
Total comprehensive income for the year
5,187
5,187
At 31 August 2022
60
22,009
22,069
Profit for the year
14,175
14,175
----
--------
--------
Total comprehensive income for the year
14,175
14,175
Issue of shares
20
20
----
----
----
Total investments by and distributions to owners
20
20
----
--------
--------
At 31 August 2023
80
36,184
36,264
----
--------
--------
AMCO CONSULTANCY LIMITED
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Dukes Avenue, Harrow, Middlesex, HA1 1XP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the disclosure exemptions available under paragraph 1.12 of FRS 102:
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The Turnover shown in profit and loss accounts represents book-keeping and secretarial fees received during the year and property rental income excluding value added tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current tax liability recognised in the reporting period. Tax is also recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Because of losses brought forward no provision for taxation has been made in the account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
18% reducing balance
Furniture and Fittings
-
18% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 3 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
1,754
1,144
-------
-------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 September 2022
668,632
6,247
6,854
681,733
Additions
659
659
---------
-------
-------
---------
At 31 August 2023
669,291
6,247
6,854
682,392
---------
-------
-------
---------
Depreciation
At 1 September 2022
1,648
1,712
3,360
Charge for the year
828
926
1,754
---------
-------
-------
---------
At 31 August 2023
2,476
2,638
5,114
---------
-------
-------
---------
Carrying amount
At 31 August 2023
669,291
3,771
4,216
677,278
---------
-------
-------
---------
At 31 August 2022
668,632
4,599
5,142
678,373
---------
-------
-------
---------
7. Debtors
2023
2022
£
£
Trade debtors
1,625
-------
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
142,270
162,592
Trade creditors
6,045
5,133
Corporation tax
2,495
Other creditors
755
---------
---------
150,810
168,480
---------
---------
Other creditors represents accrued expenditure.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
494,790
492,463
---------
---------
Other creditors represents directors' accounts as shown in below note 10.
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Ms Shital Amin
( 170,563)
( 1,027)
( 171,590)
Dr Nishal Amin
( 147,500)
( 147,500)
Ms Nita Amin
( 174,400)
( 1,300)
( 175,700)
---------
-------
---------
( 492,463)
( 2,327)
( 494,790)
---------
-------
---------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Ms Shital Amin
( 8,263)
( 162,300)
( 170,563)
Dr Nishal Amin
( 147,500)
( 147,500)
Ms Nita Amin
( 9,600)
( 164,800)
( 174,400)
--------
---------
---------
( 17,863)
( 474,600)
( 492,463)
--------
---------
---------
11. Related party transactions
The company was under the control of the directors throughout the current and previous year. Mrs Nita Amin is the managing director and a shareholder in the company. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.
AMCO CONSULTANCY LIMITED
Management Information
Year ended 31 August 2023
The following pages do not form part of the financial statements.
AMCO CONSULTANCY LIMITED
Accountant Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of AMCO CONSULTANCY LIMITED
Year ended 31 August 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 August 2023, which comprise the income statement, statement of financial position, statement of changes in equity and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
P AAMIN Accountant
781-783 Harrow Road Sudbury Town Wembley Middlesex HA0 2LP
11 December 2023