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Registration number: 03572776

AMI ESTATES LTD

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

AMI ESTATES LTD

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

AMI ESTATES LTD

Company Information

Director

Mr John Charles Cottingham

Company secretary

Mr Raymond Eric Puttick

Registered office

Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

Bankers

National Westminster Bank Plc
59 High Street
Exeter
Devon
EX4 3DL

Accountants

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AMI ESTATES LTD
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AMI ESTATES LTD for the year ended 31 December 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of AMI ESTATES 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 AMI ESTATES LTD and state those matters that we have agreed to state to the Board of Directors of AMI ESTATES LTD, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AMI ESTATES LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AMI ESTATES 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 AMI ESTATES LTD. You consider that AMI ESTATES 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 AMI ESTATES 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.

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

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

22 July 2024

 

AMI ESTATES LTD

(Registration number: 03572776)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,741

1,051

Current assets

 

Debtors

5

13,051

11,232

Cash at bank and in hand

 

122,565

110,662

 

135,616

121,894

Prepayments and accrued income

 

727

696

Creditors: Amounts falling due within one year

(86,569)

(77,219)

Net current assets

 

49,774

45,371

Total assets less current liabilities

 

51,515

46,422

Accruals and deferred income

 

(2,160)

(1,680)

Net assets

 

49,355

44,742

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

48,355

43,742

Shareholders' funds

 

49,355

44,742

For the financial year ending 31 December 2023 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 22 July 2024
 

 

AMI ESTATES LTD

(Registration number: 03572776)
Abridged Balance Sheet as at 31 December 2023

.........................................
Mr John Charles Cottingham
Director

 

AMI ESTATES LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

The principal place of business is:
Asher House
Gerway Lane
Ottery St. Mary
Devon
EX11 1PW

These financial statements were authorised for issue by the director on 22 July 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 abridged 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 abridged 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.

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.

Tax

The tax expense for the period comprises current 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.

 

AMI ESTATES LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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.

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

Office Furniture

15% Reducing Balance Basis

Fixtures, Fittings & Equipment

15% 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.

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.

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.

 

AMI ESTATES LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

7,802

7,802

Additions

996

996

At 31 December 2023

8,798

8,798

Depreciation

At 1 January 2023

6,751

6,751

Charge for the year

306

306

At 31 December 2023

7,057

7,057

Carrying amount

At 31 December 2023

1,741

1,741

At 31 December 2022

1,051

1,051

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       
 

AMI ESTATES LTD

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

7

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

Other payments made to company by director
£

At 31 December 2023
£

Mr John Charles Cottingham

Directors Loan

(52,632)

42,000

(27,312)

(22,000)

(59,943)

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

Other payments made to company by director
£

At 31 December 2022
£

Mr John Charles Cottingham

Directors Loan

(47,327)

42,000

(25,305)

(22,000)

(52,632)

Director's remuneration

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

2023
£

2022
£

Remuneration

12,510

11,146

Dividends paid to the director

2023
£

2022
£

Mr John Charles Cottingham

Ordinary £1 Shares

11,000

11,000