REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
AMA CONSTRUCTION & RAIL LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
AMA CONSTRUCTION & RAIL LIMITED |
AMA CONSTRUCTION & RAIL LIMITED (REGISTERED NUMBER: 12499039) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 MARCH 2023 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 2 |
AMA CONSTRUCTION & RAIL LIMITED (REGISTERED NUMBER: 12499039) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
AMA CONSTRUCTION & RAIL LIMITED (REGISTERED NUMBER: 12499039) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
AMA Construction & Rail Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due. |
Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. |
There are no significant judgements or estimates involved in the preparation of the financial statements. |
Revenue |
Revenue represents the value, net of value added tax and discounts, of work carried out in respect of services provided to customers. Revenue is recognised when risk and rewards of ownership have been transferred. |
Property, plant and equipment |
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as |
intended. |
The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. |
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
Plant and machinery - 25% on reducing balance |
The company has adopted the policy of not depreciating the assets in the year of purchase. However, full depreciation will be provided in the year of disposal. |
AMA CONSTRUCTION & RAIL LIMITED (REGISTERED NUMBER: 12499039) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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. |
Cash and equivalent |
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. |
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. |
Factored debts |
The company has all of it's sales invoices factored by a factoring facility. The company's factoring arrangements can neither be called as derecognition nor linked presentation. Hence a separate presentation has been adopted whereby gross debts are shown as an asset on the balance sheet and proceeds from the factors are included within creditors as a liability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
AMA CONSTRUCTION & RAIL LIMITED (REGISTERED NUMBER: 12499039) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 MARCH 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Invoice factoring | - | 615 |
Invoice Factoring is secured by way of fixed and floating charge on the assets of the company and contains negative pledge. |
8. | RELATED PARTY DISCLOSURES |
Included in other creditors less than one year is an amount of £6,135 due to the director of the company. The amount was interest free and repayable on demand. |