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REGISTERED NUMBER: 08182748 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023

FOR

AMACK GROUP LTD

AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AMACK GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Miss A M D Greig-Mackintosh





REGISTERED OFFICE: 53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF





REGISTERED NUMBER: 08182748 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 36,292 -
Tangible assets 6 68,856 4,433
105,148 4,433

CURRENT ASSETS
Stocks 7 593,590 137,404
Debtors 8 157,394 90,935
Cash at bank 745,031 570,471
1,496,015 798,810
CREDITORS
Amounts falling due within one year 9 462,879 395,341
NET CURRENT ASSETS 1,033,136 403,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,138,284

407,902

PROVISIONS FOR LIABILITIES 11 17,214 1,108
NET ASSETS 1,121,070 406,794

CAPITAL AND RESERVES
Called up share capital 12 200 200
Retained earnings 1,120,870 406,594
SHAREHOLDERS' FUNDS 1,121,070 406,794

AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director acknowledges her 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:





Miss A M D Greig-Mackintosh - Director


AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Amack Group Ltd 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.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised as the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 20% on cost
Fixtures, fittings and equipment - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

All fixed assets are initially recorded at cost.

AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 710
Additions 43,550
At 31 December 2023 44,260
AMORTISATION
At 1 January 2023 710
Charge for year 7,258
At 31 December 2023 7,968
NET BOOK VALUE
At 31 December 2023 36,292
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Leasehold and Motor Computer
improvements equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 9,203 27,096 - 15,759 52,058
Additions - 2,256 65,990 5,645 73,891
At 31 December 2023 9,203 29,352 65,990 21,404 125,949
DEPRECIATION
At 1 January 2023 9,203 23,854 - 14,568 47,625
Charge for year - 926 7,424 1,118 9,468
At 31 December 2023 9,203 24,780 7,424 15,686 57,093
NET BOOK VALUE
At 31 December 2023 - 4,572 58,566 5,718 68,856
At 31 December 2022 - 3,242 - 1,191 4,433

AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. STOCKS
2023 2022
£    £   
Stocks 593,590 137,404

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,438 20,495
Other debtors 3,000 4,144
VAT - 38,394
Prepayments and accrued income 79,956 27,902
157,394 90,935

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 206 -
Trade creditors 95,011 103,303
Corporation tax 240,945 94,002
PAYE and social security 7,683 2,740
VAT 23,641 -
Other creditors 67,381 32,602
Director's current account 4,571 147
Accrued expenses 23,441 162,547
462,879 395,341

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 28,800 28,800
Between one and five years 43,200 72,000
72,000 100,800

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 17,214 1,108

AMACK GROUP LTD (REGISTERED NUMBER: 08182748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 1,108
Provided during year 16,106
Balance at 31 December 2023 17,214

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
10 Ordinary B £1 10 10
90 Ordinary C £1 90 90
200 200