Registered number
12383628
Acmg Trading Ltd
Filleted Accounts
31 December 2023
Acmg Trading Ltd
Registered number: 12383628
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 30,985 825
Investments 4 739 739
31,724 1,564
Current assets
Stocks 65,000 25,398
Debtors 5 87,077 45,541
Cash at bank and in hand 45,319 43,525
197,396 114,464
Creditors: amounts falling due within one year 6 (153,703) (59,865)
Net current assets 43,693 54,599
Net assets 75,417 56,163
Capital and reserves
Called up share capital 1 1
Profit and loss account 75,416 56,162
Shareholder's funds 75,417 56,163
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Caglar Gunduz
Director
Approved by the board on 15 January 2024
Acmg Trading Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 1,288 - 1,288
Additions 2,509 37,980 40,489
At 31 December 2023 3,797 37,980 41,777
Depreciation
At 1 January 2023 463 - 463
Charge for the year 834 9,495 10,329
At 31 December 2023 1,297 9,495 10,792
Net book value
At 31 December 2023 2,500 28,485 30,985
At 31 December 2022 825 - 825
4 Investments
Other
investments
£
Cost
At 1 January 2023 739
At 31 December 2023 739
5 Debtors 2023 2022
£ £
Trade debtors 60,168 18,632
Other debtors 26,909 26,909
87,077 45,541
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 18,353 -
Trade creditors 28,312 17,638
Taxation and social security costs 30,096 35,927
Other creditors 76,942 6,300
153,703 59,865
7 Other information
Acmg Trading Ltd is a private company limited by shares and incorporated in England. Its registered office is:
16 Wayne Close
Orpington
England
BR6 9TS
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