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REGISTERED NUMBER: 03061826 (England and Wales)















AMG Automotive Services Ltd

Unaudited Financial Statements For The Year Ended 31 December 2023






AMG Automotive Services Ltd (Registered number: 03061826)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AMG Automotive Services Ltd

Company Information
For The Year Ended 31 December 2023







DIRECTORS: A R Boyd
K Boyd





SECRETARY: K Boyd





REGISTERED OFFICE: The Service Centre
Railway Court
Doncaster
South Yorkshire
DN4 5FB





REGISTERED NUMBER: 03061826 (England and Wales)





ACCOUNTANTS: Kingswood Allotts Limited
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

AMG Automotive Services Ltd (Registered number: 03061826)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,795 25,826

CURRENT ASSETS
Stocks 5 8,500 17,500
Debtors 6 113,116 118,254
Cash at bank and in hand 93,825 120,051
215,441 255,805
CREDITORS
Amounts falling due within one year 7 154,260 150,669
NET CURRENT ASSETS 61,181 105,136
TOTAL ASSETS LESS CURRENT LIABILITIES 81,976 130,962

CREDITORS
Amounts falling due after more than one year 8 (14,530 ) (24,677 )

PROVISIONS FOR LIABILITIES (2,420 ) (2,404 )
NET ASSETS 65,026 103,881

CAPITAL AND RESERVES
Called up share capital 9 6,000 6,000
Retained earnings 59,026 97,881
SHAREHOLDERS' FUNDS 65,026 103,881

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:




A R Boyd - Director


AMG Automotive Services Ltd (Registered number: 03061826)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

AMG Automotive Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant, fixtures and fittings - 33.33% on cost, 20% on cost and 10% on cost
Motor vehicles - 33.33% on cost

Stocks and work in progress
Stock and short term work in progress is valued at the lower of cost and net realisable value. Cost is purchase cost plus direct costs of production. Net realisable value is the amount expected to be realised in the normal course of trade in the company's business after costs of realisation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

AMG Automotive Services Ltd (Registered number: 03061826)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant,
fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 100,436 62,351 162,787
Additions 9,682 - 9,682
At 31 December 2023 110,118 62,351 172,469
DEPRECIATION
At 1 January 2023 94,930 42,031 136,961
Charge for year 4,111 10,602 14,713
At 31 December 2023 99,041 52,633 151,674
NET BOOK VALUE
At 31 December 2023 11,077 9,718 20,795
At 31 December 2022 5,506 20,320 25,826

5. STOCKS
2023 2022
£    £   
Spares, parts etc 4,500 4,500
Work-in-progress 1,000 1,000
Vehicles for resale 3,000 12,000
8,500 17,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 97,312 100,702
Other debtors 15,804 17,552
113,116 118,254

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,147 9,897
Trade creditors 45,781 55,063
Taxation 9,691 8,403
Social security and other taxes 21,228 17,676
Directors' current accounts 57,433 53,158
Other creditors 9,980 6,472
154,260 150,669

AMG Automotive Services Ltd (Registered number: 03061826)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 14,530 24,677

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6,000 Ordinary £1 6,000 6,000

10. OTHER FINANCIAL COMMITMENTS

At the year end, the company had total commitments under non cancellable operating leases in respect of a property it occupies totalling £207,000 (2022: £241,500) and a motor vehicle totalling £2,715 (2022: £4,887).

11. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £57,433 (2022: £53,158) on their directors' loan account. The loan is interest free and without any formal repayment terms.