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COMPANY REGISTRATION NUMBER: 09800917
AFMAC LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
AFMAC LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
373
660
CURRENT ASSETS
Debtors
6
3,900
Cash at bank and in hand
16,082
37,021
--------
--------
19,982
37,021
CREDITORS: amounts falling due within one year
7
4,941
22,130
--------
--------
NET CURRENT ASSETS
15,041
14,891
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
15,414
15,551
--------
--------
NET ASSETS
15,414
15,551
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
15,314
15,451
--------
--------
SHAREHOLDERS FUNDS
15,414
15,551
--------
--------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AFMAC LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 19 February 2024 , and are signed on behalf of the board by:
Mrs A F Macmillan
Director
Company registration number: 09800917
AFMAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, NN15 6WJ.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
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
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible assets are initially recorded at cost.
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:
Fixtures & Fittings
-
15% Reducing Balance / 33.33% Straight Line
Equipment
-
33% straight line
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
1,305
883
2,188
-------
----
-------
Depreciation
At 1 January 2023
866
662
1,528
Charge for the year
66
221
287
-------
----
-------
At 31 December 2023
932
883
1,815
-------
----
-------
Carrying amount
At 31 December 2023
373
373
-------
----
-------
At 31 December 2022
439
221
660
-------
----
-------
6. DEBTORS
2023
2022
£
£
Trade debtors
3,900
-------
----
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
320
3,680
Other creditors
4,621
18,450
-------
--------
4,941
22,130
-------
--------
8. RELATED PARTY TRANSACTIONS
The company undertook the following transactions with related parties: The director has advanced monies to the company. As at 31 December 2023 the amount owed by the company was £ 3,496 (2022 - £ 17,259 ).