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REGISTERED NUMBER: 01412282 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

AMG North Weald Limited

AMG North Weald Limited (Registered number: 01412282)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


AMG North Weald Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Ms J J E Smith
J H Atwell (Junior)
G D Gillard



SECRETARY: Ms J J E Smith



REGISTERED OFFICE: No 3 Building
North Weald Airfield
North Weald
Essex
CM16 6HR



REGISTERED NUMBER: 01412282 (England and Wales)



ACCOUNTANTS: Fredericks Limited
Chartered Accountants
106 Charter Avenue
Ilford
Essex
IG2 7AD



BANKERS: H S B C Bank plc
34 Broad Walk
Harlow
Essex
CM20 1JA



SOLICITORS: Foskett, Marr, Gadsby, Head
181 High Street
Epping
Essex
CM16 4BQ

AMG North Weald Limited (Registered number: 01412282)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 62,645 75,174
Tangible assets 5 119,132 137,313
Investments 6 100 100
181,877 212,587

CURRENT ASSETS
Debtors 259,795 323,811
Cash at bank 733,849 649,559
993,644 973,370
CREDITORS
Amounts falling due within one year 263,388 312,769
NET CURRENT ASSETS 730,256 660,601
TOTAL ASSETS LESS CURRENT
LIABILITIES

912,133

873,188

PROVISIONS FOR LIABILITIES 7 26,000 31,500
NET ASSETS 886,133 841,688

CAPITAL AND RESERVES
Called up share capital 8 31,000 31,000
Retained earnings 855,133 810,688
SHAREHOLDERS' FUNDS 886,133 841,688

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.

AMG North Weald Limited (Registered number: 01412282)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:




G D Gillard - Director



Ms J J E Smith - Director


AMG North Weald Limited (Registered number: 01412282)

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

1. STATUTORY INFORMATION

AMG North Weald Limited 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.

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


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.

Preparation of consolidated financial statements
The financial statements contain information about AMG North Weald Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill acquired is amortised over the expected useful life of 25 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Lorries and vans - 25% on reducing balance
Fixtures and fittings - 15 to 25% on reducing balance
Motor vehicles - 25% on reducing balance
Trailers - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiaries are stated at cost less impairment.

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


AMG North Weald Limited (Registered number: 01412282)

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

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 313,224
AMORTISATION
At 1 January 2023 238,050
Amortisation for year 12,529
At 31 December 2023 250,579
NET BOOK VALUE

At 31 December 2023 62,645
At 31 December 2022 75,174

AMG North Weald Limited (Registered number: 01412282)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 391,913
Additions 15,689
Disposals (7,716 )
At 31 December 2023 399,886
DEPRECIATION
At 1 January 2023 254,600
Charge for year 33,685
Eliminated on disposal (7,531 )
At 31 December 2023 280,754
NET BOOK VALUE
At 31 December 2023 119,132
At 31 December 2022 137,313

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023 73,240
Transfer to ownership (73,240 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 39,691
Transfer to ownership (39,691 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 33,549

6. FIXED ASSET INVESTMENTS

The Company owns 100% of the issued capital of AMG Logistics Solutions Ltd, a dormant company company registered in England and Wales.The value of the investment is stated at cost of £100 (2022 £100).

The Company also owns 100% of the issued share capital of AMG Interfreight Ltd, a dormant company company registered in England and Wales.The value of the investment is stated at cost of £Nil (2022 £Nil).

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 26,000 31,500

AMG North Weald Limited (Registered number: 01412282)

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

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 31,500
Timing differences (5,500 )
Change in taxation rate
Balance at 31 December 2023 26,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
27,000 A Ordinary £1.00 27,000 27,000
4,000 B Ordinary £1.00 4,000 4,000
31,000 31,000

The B Ordinary shares of £1.00 each have different rights to the A Ordinary shares in that they shall confer no right to vote at general meetings of the company but shall rank pari passu with the A Ordinary shares in the event of a capital distribution or winding up of the company.

9. RELATED PARTY DISCLOSURES

The company was under the control of J H Atwell and G D Gillard during the year.

During the year charges of £124,323 (2022 : £178,975) were incurred from A.M.G. Warehousing Limited, a company in which J H Atwell and G D Gillard are directors and have material interest.The sum of Nil (2022 £70,000) was accrued at the year end.

The company charged A.M.G. Warehousing Limited the sum of £30,000 in respect of property management charges (2022: £30,000).The balances outstanding at the year end were £Nil (2022 : £Nil). .

The directors consider that the above transactions have been carried out at arms length and at market value.