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REGISTERED NUMBER: 09521913 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

A M CONVENIENCE LIMITED

A M CONVENIENCE LIMITED (REGISTERED NUMBER: 09521913)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


A M CONVENIENCE LIMITED (REGISTERED NUMBER: 09521913)

Abridged Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,600 9,900
Tangible assets 5 69,437 74,661
76,037 84,561

CURRENT ASSETS
Stocks 110,110 89,235
Debtors 198,620 247,509
Cash at bank and in hand 6,541 5,027
315,271 341,771
CREDITORS
Amounts falling due within one year 195,001 206,034
NET CURRENT ASSETS 120,270 135,737
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,307

220,298

CREDITORS
Amounts falling due after more than one year 129,069 143,251
NET ASSETS 67,238 77,047

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 67,138 76,947
SHAREHOLDERS' FUNDS 67,238 77,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

A M CONVENIENCE LIMITED (REGISTERED NUMBER: 09521913)

Abridged Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 February 2024 and were signed on its behalf by:





Mandeep Singh Aulakh - Director


A M CONVENIENCE LIMITED (REGISTERED NUMBER: 09521913)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

A M Convenience Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09521913

Registered office: 2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


A M CONVENIENCE LIMITED (REGISTERED NUMBER: 09521913)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 33,000
AMORTISATION
At 1 June 2022 23,100
Amortisation for year 3,300
At 31 May 2023 26,400
NET BOOK VALUE

At 31 May 2023 6,600
At 31 May 2022 9,900

A M CONVENIENCE LIMITED (REGISTERED NUMBER: 09521913)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 153,222
Additions 3,122
At 31 May 2023 156,344
DEPRECIATION
At 1 June 2022 78,561
Charge for year 8,346
At 31 May 2023 86,907
NET BOOK VALUE
At 31 May 2023 69,437
At 31 May 2022 74,661

6. OTHER FINANCIAL COMMITMENTS

Dividend issued to Aulakh Holdings Ltd during the year 40,000 ( 75,000 in 2021)

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mandeep Singh Aulakh and Aarondeep Singh Aulakh
Balance outstanding at start of year (1,549 ) (8,502 )
Amounts advanced - 21,953
Amounts repaid (603 ) (15,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,152 ) (1,549 )

8. RELATED PARTY DISCLOSURES

The following current assets are related party transactions with no terms attached

Aulakh Holding Ltd = £26,179 (£28,143 in 2022)
AM Convenience (Solihull) Ltd = £97,337 (£167,097 in 2022)
Aulakh Holding (Solihull) Ltd = £26,057 (£18,460 in 2022)

The following long term creditors are related party transactions with no terms attached

AM Convenience Ltd = £65,784 (£6,764 current asset in 2022)

A M CONVENIENCE LIMITED (REGISTERED NUMBER: 09521913)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Aulakh Holdings Ltd.