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Registration number: 08009607

AMC Exhibitions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

AMC Exhibitions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

AMC Exhibitions Limited

Company Information

Directors

Mr Martin Green

Mrs Kate Martin

Registered office

5 High Green
Great Shelford
Cambridge
CB22 5EG

Accountants

Tayabali & White
5 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG

 

AMC Exhibitions Limited

(Registration number: 08009607)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

63,200

71,100

Tangible assets

5

101,270

75,997

 

164,470

147,097

Current assets

 

Stocks

6

18,467

17,417

Debtors

7

98,562

133,168

Cash at bank and in hand

 

335,258

214,258

 

452,287

364,843

Creditors: Amounts falling due within one year

8

(246,124)

(222,992)

Net current assets

 

206,163

141,851

Total assets less current liabilities

 

370,633

288,948

Creditors: Amounts falling due after more than one year

8

(21,212)

(39,394)

Net assets

 

349,421

249,554

Capital and reserves

 

Called up share capital

9

200

200

Retained earnings

349,221

249,354

Shareholders' funds

 

349,421

249,554

For the financial year ending 31 May 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.

 

AMC Exhibitions Limited

(Registration number: 08009607)
Balance Sheet as at 31 May 2024

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.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

.........................................
Mrs Kate Martin
Director

 

AMC Exhibitions Limited

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

1

General information

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

The company's registered number is 08009607.

The address of its registered office is:
5 High Green
Great Shelford
Cambridge
CB22 5EG

These financial statements were authorised for issue by the Board on 23 September 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

AMC Exhibitions Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Office Equipment

25% reducing balance

Fixtures and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Tenants Improvements

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

AMC Exhibitions Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

AMC Exhibitions Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2023 - 19).

 

AMC Exhibitions Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

158,000

158,000

At 31 May 2024

158,000

158,000

Amortisation

At 1 June 2023

86,900

86,900

Amortisation charge

7,900

7,900

At 31 May 2024

94,800

94,800

Carrying amount

At 31 May 2024

63,200

63,200

At 31 May 2023

71,100

71,100

 

AMC Exhibitions Limited

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

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

15,984

88,156

63,529

80,674

248,343

Additions

-

9,521

7,597

41,700

58,818

Disposals

-

-

-

(38,685)

(38,685)

At 31 May 2024

15,984

97,677

71,126

83,689

268,476

Depreciation

At 1 June 2023

3,795

59,864

53,017

55,670

172,346

Charge for the year

1,220

9,453

4,527

16,120

31,320

Eliminated on disposal

-

-

-

(36,460)

(36,460)

At 31 May 2024

5,015

69,317

57,544

35,330

167,206

Carrying amount

At 31 May 2024

10,969

28,360

13,582

48,359

101,270

At 31 May 2023

12,189

28,292

10,512

25,004

75,997

Included within the net book value of land and buildings above is £10,969 (2023 - £12,189) in respect of short leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Raw materials and consumables

18,467

17,417

7

Debtors

 

AMC Exhibitions Limited

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

Current

2024
£

2023
£

Trade debtors

48,910

105,423

Prepayments

20,082

-

Other debtors

29,570

27,745

 

98,562

133,168

 

AMC Exhibitions Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

18,182

18,182

Trade creditors

 

104,396

56,543

Taxation and social security

 

64,431

76,310

Accruals and deferred income

 

3,475

3,320

Other creditors

 

55,640

68,637

 

246,124

222,992

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

21,212

39,394

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

A Ordinary of £1 each

100

100

100

100

200

200

200

200

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

21,212

39,394

 

AMC Exhibitions Limited

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

Current loans and borrowings

2024
£

2023
£

Bank borrowings

18,182

18,182

11

Related party transactions

 

AMC Exhibitions Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

122,289

118,000