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Registration number: 04455557

AMPM247.com Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

AMPM247.com Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

AMPM247.com Ltd

Company Information

Directors

Mr D A R Heaton

Mr J T Barnfield

Registered office

Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

AMPM247.com Ltd

(Registration number: 04455557)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

31,725

34,111

Current assets

 

Stocks

5

258,000

180,000

Debtors

6

625,748

299,633

Cash at bank and in hand

 

110,791

230,935

 

994,539

710,568

Creditors: Amounts falling due within one year

7

(793,347)

(450,814)

Net current assets

 

201,192

259,754

Total assets less current liabilities

 

232,917

293,865

Creditors: Amounts falling due after more than one year

7

(30,057)

(91,892)

Provisions for liabilities

(5,781)

(6,219)

Net assets

 

197,079

195,754

Capital and reserves

 

Called up share capital

1

1

Capital redemption reserve

2

2

Retained earnings

197,076

195,751

Shareholders' funds

 

197,079

195,754

 

AMPM247.com Ltd

(Registration number: 04455557)
Balance Sheet as at 31 December 2023

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 July 2024 and signed on its behalf by:
 

.........................................
Mr D A R Heaton
Director

.........................................
Mr J T Barnfield
Director

 

AMPM247.com Ltd

Notes to the Unaudited 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 & Wales.

The presentation currency of the financial statements is the Pound Sterling (£).

The address of its registered office is:
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE
England

These financial statements were authorised for issue by the Board on 8 July 2024.

The principal place of business is:
The Site
24 Chosen View Road
Cheltenham
Gloucestershire
GL51 9LT
England

2

Accounting policies

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 directors have considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability of the company to continue as a going concern have been identified by the directors.

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 projects are completed or for long term projects when milestones are met.

 

AMPM247.com Ltd

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

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.

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

Plant and machinery

25% on cost

Motor Vehicles

25% on cost

Office equipment

25% on cost

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.

stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to theri present location and condition.

 

AMPM247.com Ltd

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

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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet and that a payment will be required in settlement that can be estimated reliably. Where materials, provisions are calculated on a discounted basis,

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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

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.

Financial instruments

Classification
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2022 - 25).

 

AMPM247.com Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

32,540

191,699

62,330

286,569

Additions

3,437

12,175

-

15,612

At 31 December 2023

35,977

203,874

62,330

302,181

Depreciation

At 1 January 2023

26,829

166,500

59,129

252,458

Charge for the year

4,088

12,514

1,396

17,998

At 31 December 2023

30,917

179,014

60,525

270,456

Carrying amount

At 31 December 2023

5,060

24,860

1,805

31,725

At 31 December 2022

5,711

25,199

3,201

34,111

5

stocks

2023
£

2022
£

Work in progress

258,000

180,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

596,637

238,748

Prepayments

17,611

14,702

Other debtors

11,500

46,183

 

625,748

299,633

 

AMPM247.com Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

61,835

64,865

Trade creditors

 

359,624

214,733

Taxation and social security

 

257,223

111,990

Accruals and deferred income

 

86,989

26,782

Other creditors

 

27,676

32,444

 

793,347

450,814

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

30,057

91,892

8

Secured Debts

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

30,057

91,892

2023
£

2022
£

Current loans and borrowings

Bank borrowings

61,835

64,865

The company has a debenture with Virgin Money, with the amount secured being all monies due or to become due from the company to the chargee on any account whatsoever.

The debenture contains fixed and floating charges over the undertaking and all property and assets present and future including goodwill, bookdebts, uncalled capital buildings, fixtures and fixed plant and machinery.

 

AMPM247.com Ltd

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

9

Related party transactions

Directors' advances, credits and guarantees

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr D A R Heaton

11,778

(7,000)

5,552

10,330

         
       

Mr J T Barnfield

10,871

(10,000)

5,312

6,183

         
       

 

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Mr D A R Heaton

902

(39)

10,915

11,778

         
       

Mr J T Barnfield

598

(39)

10,312

10,871

         
       

 

There is no interest accruing and the balance due to the directors is repayable on demand.