AMD Automation Ltd 11246473 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is design engineering. Digita Accounts Production Advanced 6.30.9574.0 true true 11246473 2023-04-01 2024-03-31 11246473 2024-03-31 11246473 bus:Director1 1 2024-03-31 11246473 core:CurrentFinancialInstruments 2024-03-31 11246473 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11246473 core:FurnitureFittingsToolsEquipment 2024-03-31 11246473 core:MotorVehicles 2024-03-31 11246473 core:OtherPropertyPlantEquipment 2024-03-31 11246473 bus:SmallEntities 2023-04-01 2024-03-31 11246473 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11246473 bus:FilletedAccounts 2023-04-01 2024-03-31 11246473 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11246473 bus:RegisteredOffice 2023-04-01 2024-03-31 11246473 bus:Director1 2023-04-01 2024-03-31 11246473 bus:Director1 1 2023-04-01 2024-03-31 11246473 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11246473 bus:Agent1 2023-04-01 2024-03-31 11246473 core:ComputerEquipment 2023-04-01 2024-03-31 11246473 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11246473 core:MotorVehicles 2023-04-01 2024-03-31 11246473 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 11246473 core:PlantMachinery 2023-04-01 2024-03-31 11246473 countries:AllCountries 2023-04-01 2024-03-31 11246473 2023-03-31 11246473 bus:Director1 1 2023-03-31 11246473 core:FurnitureFittingsToolsEquipment 2023-03-31 11246473 core:MotorVehicles 2023-03-31 11246473 core:OtherPropertyPlantEquipment 2023-03-31 11246473 2022-04-01 2023-03-31 11246473 2023-03-31 11246473 bus:Director1 1 2023-03-31 11246473 core:CurrentFinancialInstruments 2023-03-31 11246473 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11246473 core:FurnitureFittingsToolsEquipment 2023-03-31 11246473 core:MotorVehicles 2023-03-31 11246473 core:OtherPropertyPlantEquipment 2023-03-31 11246473 bus:Director1 1 2022-04-01 2023-03-31 11246473 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 11246473

AMD Automation Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

AMD Automation Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

AMD Automation Ltd

Company Information

Director

Mr A A Martinez Diaz

Registered office

Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

Accountants

Andrews & O'Shea Ltd
Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AMD Automation Ltd
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AMD Automation Ltd for the year ended 31 March 2022 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of AMD Automation Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AMD Automation Ltd and state those matters that we have agreed to state to the Board of Directors of AMD Automation Ltd, as a body, in this report and for no other reason. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AMD Automation Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AMD Automation Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AMD Automation Ltd. You consider that AMD Automation Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AMD Automation Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Andrews & O'Shea Ltd
Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

26 April 2024

 

AMD Automation Ltd

(Registration number: 11246473)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

16,854

18,452

Current assets

 

Debtors

6

256

3,960

Cash at bank and in hand

 

41,289

7,256

 

41,545

11,216

Creditors: Amounts falling due within one year

7

(10,408)

(2,770)

Net current assets

 

31,137

8,446

Total assets less current liabilities

 

47,991

26,898

Provisions for liabilities

(1,349)

(1,534)

Net assets

 

46,642

25,364

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

46,641

25,363

Shareholders' funds

 

46,642

25,364

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 April 2024
 

.........................................
Mr A A Martinez Diaz
Director

 

AMD Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

These financial statements were authorised for issue by the director on 26 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

AMD Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

50% per annum on a straight line basis

Plant and machinery

33% per annum on a reducing balance basis

Motor vehicles

25% per annum on a reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

AMD Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

7,609

8,374

 

AMD Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

2,092

16,924

28,086

47,102

Additions

-

-

6,011

6,011

At 31 March 2024

2,092

16,924

34,097

53,113

Depreciation

At 1 April 2023

2,092

11,124

15,434

28,650

Charge for the year

-

1,450

6,159

7,609

At 31 March 2024

2,092

12,574

21,593

36,259

Carrying amount

At 31 March 2024

-

4,350

12,504

16,854

At 31 March 2023

-

5,800

12,652

18,452

 

AMD Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

debtors

Current

2024
£

2023
£

Trade debtors

-

2,853

Other debtors

256

1,107

 

256

3,960

Details of non-current trade and other debtors

£112 (2023 -£215) of Section 455 Tax is classified as non current.

 

AMD Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

4,450

2,749

Taxation and social security

 

5,958

21

 

10,408

2,770

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

4,450

2,749

10

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £4,450 (2023 - £5,000) per each ordinary share

 

4,450

 

5,000

         
 

AMD Automation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Other payments made to company by director
£

At 31 March 2024
£

Mr A A Martinez Diaz

Interest free loan

2,749

1,701

4,450

2023

At 1 April 2022
£

Advances to director
£

Other payments made to company by director
£

At 31 March 2023
£

Mr A A Martinez Diaz

Interest free loan

(351)

(212)

3,312

2,749

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,096

9,096

Contributions paid to money purchase schemes

-

20,000

9,096

29,096

During the year the number of directors who were receiving benefits and share incentives was as follows:

2024
No.

2023
No.

Accruing benefits under money purchase pension scheme

-

1

Dividends paid to the director

2024
£

2023
£

Mr A A Martinez Diaz

Ordinary

4,450

5,000