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Registration number: 13868814


Ganymede Group Ltd

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Ganymede Group Ltd
(formerly Property by AMC Ltd)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Ganymede Group Ltd
(formerly Property by AMC Ltd)

Company Information

Directors

Mr A Burns

Mrs M Burns

Registered office

C/O Howsons
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

Accountants

Howsons (Stoke) Limited
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

Ganymede Group Ltd
(formerly Property by AMC Ltd)

(Registration number: 13868814)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

602

712

Current assets

 

Stocks

5

84,376

64,942

Debtors

6

214

1,946

Cash at bank and in hand

 

527

1,425

 

85,117

68,313

Creditors: Amounts falling due within one year

7

(90,845)

(72,540)

Net current liabilities

 

(5,728)

(4,227)

Net liabilities

 

(5,126)

(3,515)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(5,128)

(3,517)

Shareholders' deficit

 

(5,126)

(3,515)

For the financial year ending 31 January 2024 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 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

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.

 

Ganymede Group Ltd
(formerly Property by AMC Ltd)

(Registration number: 13868814)
Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 11 September 2023 and signed on its behalf by:
 

.........................................
Mr A Burns
Director

.........................................
Mrs M Burns
Director

 

Ganymede Group Ltd
(formerly Property by AMC Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The company was formerly known as Property by AMC Ltd.

The address of its registered office is:
C/O Howsons
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

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

Plant and machinery

20% straight line

 

Ganymede Group Ltd
(formerly Property by AMC Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Ganymede Group Ltd
(formerly Property by AMC Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

822

822

At 31 January 2024

822

822

Depreciation

At 1 February 2023

110

110

Charge for the year period

110

110

At 31 January 2024

220

220

Carrying amount

At 31 January 2024

602

602

At 31 January 2023

712

712

5

Stocks

2024
£

2023
£

Other inventories

84,376

64,942

6

Debtors

2024
£

2023
£

Other debtors

214

1,946

7

Creditors

2024
£

2023
£

Due within one year

Other creditors

1,320

3,171

Directors' loan account

89,525

69,369

90,845

72,540

 

Ganymede Group Ltd
(formerly Property by AMC Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Going Concern

The accounts have been prepared on a going concern basis. The company is undertaking their first project and this is being funded by the directors. The drectors will continue to support the company.