Company registration number 04047206 (England and Wales)
AMUMFORD.COM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
AMUMFORD.COM LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
AMUMFORD.COM LIMITED (REGISTERED NUMBER: 04047206)
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
889
Current assets
Debtors
4
49,358
49,290
Cash at bank and in hand
91,981
93,702
141,339
142,992
Creditors: amounts falling due within one year
5
(24,778)
(24,701)
Net current assets
116,561
118,291
Total assets less current liabilities
117,450
118,291
Creditors: amounts falling due after more than one year
6
(26,713)
(31,111)
Provisions for liabilities
(169)
Net assets
90,568
87,180
Capital and reserves
Called up share capital
308
308
Profit and loss reserves
90,260
86,872
Total equity
90,568
87,180
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
AMUMFORD.COM LIMITED (REGISTERED NUMBER: 04047206)
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 9 April 2024
A Mumford
Director
AMUMFORD.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
Amumford.com Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, WC2R 0LT.
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 represents net invoiced sales of goods and services, excluding value added tax.
1.3
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:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
25% reducing balance
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.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
AMUMFORD.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.5
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.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 August 2022
18,010
7,867
17,186
43,063
Additions
1,041
1,041
At 31 July 2023
18,010
7,867
18,227
44,104
Depreciation and impairment
At 1 August 2022
18,010
7,867
17,186
43,063
Depreciation charged in the year
152
152
At 31 July 2023
18,010
7,867
17,338
43,215
Carrying amount
At 31 July 2023
889
889
At 31 July 2022
AMUMFORD.COM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
49,358
49,290
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
4,024
3,915
Trade creditors
1,100
3,172
Taxation and social security
9,685
7,834
Other creditors
9,969
9,780
24,778
24,701
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
26,713
31,111
7
Financial commitments, guarantees and contingent liabilities
In October 2020, the company borrowed £38,600 from its bankers for a Bounce Back Loan. As part of this loan scheme, the UK government has guaranteed the advance and will pay the interest and fees due for the first 12 months. The amount outstanding at the balance sheet date was £30,737.
8
Related party transactions
At the year end the company was owed £33,417 from a company with common directors (2022: £33,417). During the year the company sold services totalling £80,165 to a company with common directors (2022: £97,000).
At the year end the company owed £6,865 to a company with common directors (2022: £6,482).
9
Director's transactions
Included within other debtors is a directors loan account balance of £15,941 (2022: £12,502). This amount will be repaid within 9 months of the balance sheet date.