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REGISTERED NUMBER: NI672095 (Northern Ireland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

AMPM LUXURY GOODS LTD

PREVIOUSLY KNOWN AS
AM PM TIMEPIECES LIMITED

AMPM LUXURY GOODS LTD (REGISTERED NUMBER: NI672095)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AMPM LUXURY GOODS LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: W Ferris





REGISTERED OFFICE: 7 Lombard Street
Belfast
BT1 1RB





REGISTERED NUMBER: NI672095 (Northern Ireland)





ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY

AMPM LUXURY GOODS LTD (REGISTERED NUMBER: NI672095)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 614 -
Investments 5 120,050 -
120,664 -

CURRENT ASSETS
Stocks 521,899 329,235
Debtors 6 137,853 202,613
Cash at bank and in hand 18,858 1,862
678,610 533,710
CREDITORS
Amounts falling due within one year 7 487,378 326,659
NET CURRENT ASSETS 191,232 207,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

311,896

207,051

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 310,896 206,051
SHAREHOLDERS' FUNDS 311,896 207,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

AMPM LUXURY GOODS LTD (REGISTERED NUMBER: NI672095)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2024 and were signed by:





W Ferris - Director


AMPM LUXURY GOODS LTD (REGISTERED NUMBER: NI672095)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

AMPM Luxury Goods Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates . It also requires the directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Estimation Uncertainty

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

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.
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognizes these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortized cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.


AMPM LUXURY GOODS LTD (REGISTERED NUMBER: NI672095)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 916
At 31 March 2024 916
DEPRECIATION
Charge for year 302
At 31 March 2024 302
NET BOOK VALUE
At 31 March 2024 614

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Other investments not loans 120,050 -

AMPM LUXURY GOODS LTD (REGISTERED NUMBER: NI672095)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Other
investments
£   
COST
Additions 95,050
At 31 March 2024 95,050
NET BOOK VALUE
At 31 March 2024 95,050

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
B share in Unlisted company 25,000 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 101,134 202,458
Other debtors 36,719 155
137,853 202,613

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 104,416 61,730
Trade creditors 229,190 152,447
Taxation and social security 65,094 56,346
Other creditors 88,678 56,136
487,378 326,659

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
500 Ordinary A £1 500 500
500 Ordinary B £1 500 500
1,000 1,000

AMPM LUXURY GOODS LTD (REGISTERED NUMBER: NI672095)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

9. RESERVES
Retained
earnings
£   

At 1 April 2023 206,052
Profit for the year 146,344
Dividends (41,500 )
At 31 March 2024 310,896

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
W Ferris
Balance outstanding at start of year (37,640 ) (21,489 )
Amounts advanced 371,495 91,775
Amounts repaid (297,943 ) (107,926 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,912 (37,640 )