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COMPANY REGISTRATION NUMBER: 09910579
AM PARTNERS GROUP LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
AM PARTNERS GROUP LTD
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
113,609
81,411
Cash at bank and in hand
463
20,914
----------
----------
114,072
102,325
Creditors: amounts falling due within one year
5
( 139,669)
( 114,402)
----------
----------
Net current liabilities
( 25,597)
( 12,077)
---------
---------
Total assets less current liabilities
( 25,597)
( 12,077)
Creditors: amounts falling due after more than one year
6
( 1,681)
( 2,331)
---------
---------
Net liabilities
( 27,278)
( 14,408)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 27,279)
( 14,409)
---------
---------
Shareholders deficit
( 27,278)
( 14,408)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AM PARTNERS GROUP LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 6 September 2024 , and are signed on behalf of the board by:
A Mandich
Director
Company registration number: 09910579
AM PARTNERS GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kingfisher House, Hurstwood Grange, Hurstwood Lane, Haywards Heath, West Sussex, RH17 7QX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Debtors
2023
2022
£
£
Other debtors
113,609
81,411
----------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,928
17,731
Corporation tax
33,017
23,137
Social security and other taxes
103,174
72,984
Other creditors
550
550
----------
----------
139,669
114,402
----------
----------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,681
2,331
-------
-------
7. Director's advances, credits and guarantees
The director had a loan balance with the company at the year end of £85,205 (2022: £61,132)