Registered number
05856308
Amania Trading Ltd
Filleted Accounts
31 January 2024
Amania Trading Ltd
Registered number: 05856308
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 2,899
Tangible assets 4 2,978 3,015
2,978 5,914
Current assets
Stocks 97,920 98,139
Debtors 5 1,343 13
Cash at bank and in hand 138,189 145,482
237,452 243,634
Creditors: amounts falling due within one year 6 (113,613) (107,513)
Net current assets 123,839 136,121
Total assets less current liabilities 126,817 142,035
Provisions for liabilities (566) (572)
Net assets 126,251 141,463
Capital and reserves
Called up share capital 10 10
Profit and loss account 126,241 141,453
Shareholders' funds 126,251 141,463
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Mottershead
Director
Approved by the board on 12 September 2024
Amania Trading Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 14,495
At 31 January 2024 14,495
Amortisation
At 1 February 2023 11,596
Provided during the year 2,899
At 31 January 2024 14,495
Net book value
At 31 January 2024 -
At 31 January 2023 2,899
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 27,738
Additions 2,624
At 31 January 2024 30,362
Depreciation
At 1 February 2023 24,723
Charge for the year 2,661
At 31 January 2024 27,384
Net book value
At 31 January 2024 2,978
At 31 January 2023 3,015
5 Debtors 2024 2023
£ £
Trade debtors - 13
Other debtors 1,343 -
1,343 13
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 59,819 48,908
Taxation and social security costs 37,167 56,359
Other creditors 16,627 2,246
113,613 107,513
7 Other information
Amania Trading Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3 Alton Business Centre
Valley Lane
Wherstead
Suffolk
IP9 2AX
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