Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31falsefalsetrue2022-04-01No description of principal activity44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08422629 2022-04-01 2023-03-31 08422629 2021-04-01 2022-03-31 08422629 2023-03-31 08422629 2022-03-31 08422629 c:Director1 2022-04-01 2023-03-31 08422629 d:PlantMachinery 2022-04-01 2023-03-31 08422629 d:PlantMachinery 2023-03-31 08422629 d:PlantMachinery 2022-03-31 08422629 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08422629 d:MotorVehicles 2022-04-01 2023-03-31 08422629 d:FurnitureFittings 2022-04-01 2023-03-31 08422629 d:FurnitureFittings 2023-03-31 08422629 d:FurnitureFittings 2022-03-31 08422629 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08422629 d:OfficeEquipment 2022-04-01 2023-03-31 08422629 d:OfficeEquipment 2023-03-31 08422629 d:OfficeEquipment 2022-03-31 08422629 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08422629 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08422629 d:CurrentFinancialInstruments 2023-03-31 08422629 d:CurrentFinancialInstruments 2022-03-31 08422629 d:Non-currentFinancialInstruments 2023-03-31 08422629 d:Non-currentFinancialInstruments 2022-03-31 08422629 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08422629 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08422629 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08422629 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08422629 d:ShareCapital 2023-03-31 08422629 d:ShareCapital 2022-03-31 08422629 d:RetainedEarningsAccumulatedLosses 2023-03-31 08422629 d:RetainedEarningsAccumulatedLosses 2022-03-31 08422629 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08422629 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 08422629 d:RetirementBenefitObligationsDeferredTax 2023-03-31 08422629 d:RetirementBenefitObligationsDeferredTax 2022-03-31 08422629 d:OtherDeferredTax 2023-03-31 08422629 d:OtherDeferredTax 2022-03-31 08422629 c:OrdinaryShareClass1 2022-04-01 2023-03-31 08422629 c:OrdinaryShareClass1 2023-03-31 08422629 c:OrdinaryShareClass1 2022-03-31 08422629 c:FRS102 2022-04-01 2023-03-31 08422629 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08422629 c:FullAccounts 2022-04-01 2023-03-31 08422629 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08422629 2 2022-04-01 2023-03-31 08422629 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08422629










AMAX SUPPLIES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
AMAX SUPPLIES LTD
REGISTERED NUMBER: 08422629

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,545
5,041

  
12,545
5,041

Current assets
  

Stocks
 5 
34,100
4,200

Debtors
 6 
290,364
190,058

Cash at bank and in hand
 7 
25,610
72,213

  
350,074
266,471

Creditors: amounts falling due within one year
 8 
(222,888)
(124,259)

Net current assets
  
 
 
127,186
 
 
142,212

Total assets less current liabilities
  
139,731
147,253

Creditors: amounts falling due after more than one year
 9 
(30,460)
(40,000)

Net assets
  
109,271
107,253


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
  
109,270
107,252

  
109,271
107,253


Page 1

 
AMAX SUPPLIES LTD
REGISTERED NUMBER: 08422629

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Mehta
Director

Date: 10 April 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AMAX SUPPLIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Amax Supplies Ltd is a private company, limited by share capital and incorporated in England and Wales. 

The company's registered registered office is Unit B1b Neptune Road, Harrow, Middlesex, HA1 4HX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
AMAX SUPPLIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
AMAX SUPPLIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as per below.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
10%
reducing balance
Office equipment
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
AMAX SUPPLIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from bank and other third parties, loan to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
13,833
749
293
14,875


Additions
-
-
9,645
9,645



At 31 March 2023

13,833
749
9,938
24,520



Depreciation


At 1 April 2022
9,456
210
168
9,834


Charge for the year on owned assets
1,094
54
993
2,141



At 31 March 2023

10,550
264
1,161
11,975



Net book value



At 31 March 2023
3,283
485
8,777
12,545



At 31 March 2022
4,377
539
125
5,041

Page 6

 
AMAX SUPPLIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
34,100
4,200

34,100
4,200



6.


Debtors

2023
2022
£
£

Trade debtors
258,510
110,805

Other debtors
30,237
77,817

Deferred taxation
1,617
1,436

290,364
190,058



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
25,610
72,213

25,610
72,213



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
182,443
69,811

Other taxation and social security
26,578
10,503

Other creditors
1,242
1,239

Accruals and deferred income
2,625
32,706

222,888
124,259


Page 7

 
AMAX SUPPLIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
30,460
40,000

30,460
40,000



10.


Deferred taxation




2023


£






At beginning of year
1,436


Charged to profit or loss
181



At end of year
1,617

The deferred tax asset is made up as follows:

2023
2022
£
£


Fixed asset timing differences
(653)
1,382

Short term timing differences
57
54

Losses and other deductions
2,213
-

1,617
1,436


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary Share share of £1
1
1


Page 8

 
AMAX SUPPLIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,768 (2022 - £2,724). Contributions totalling £528 (2022 - £511) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

At the year end the company was owed £nil (2022: £1,152) from Amax Fire and Security Limited, to a company that is related by virtue of having common directors and/or shareholders.


14.


Controlling party

The company is controlled by its director.


Page 9