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Registration number: 06266876

Amthal Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Amthal Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Amthal Limited

Company Information

Directors

Mr JP Allam

Mr PJ Rosenthal

Mr JR Allam

Company secretary

Mr JR Allam

Registered office

1 Executive Park
Hatfield Road
St Albans
Hertfordshire
AL1 4TA

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Amthal Limited

(Registration number: 06266876)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

850,000

850,000

Current assets

 

Debtors

5

-

6,116

Cash at bank and in hand

 

23,389

11,480

 

23,389

17,596

Creditors: Amounts falling due within one year

6

(1,080)

(1,757)

Net current assets

 

22,309

15,839

Total assets less current liabilities

 

872,309

865,839

Creditors: Amounts falling due after more than one year

6

(757,917)

(756,548)

Provisions for liabilities

7

(34,039)

(38,152)

Net assets

 

80,353

71,139

Capital and reserves

 

Called up share capital

3

3

Retained earnings

80,350

71,136

Shareholders' funds

 

80,353

71,139

For the financial year ending 30 June 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.

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 11 October 2024 and signed on its behalf by:
 

 

Amthal Limited

(Registration number: 06266876)
Balance Sheet as at 30 June 2024 (continued)

.........................................
Mr JP Allam
Director

.........................................
Mr PJ Rosenthal
Director

.........................................
Mr JR Allam
Company secretary and director

     
 

Amthal Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
1 Executive Park
Hatfield Road
St Albans
Hertfordshire
AL1 4TA
United Kingdom

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.

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 and deferred 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.

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.

 

Amthal Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

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.

 

Amthal Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investment properties

2024
£

At 1 July

850,000

At 30 June

850,000


A valuation of the investment properties was carried out on 13 September 2022 by London's Surveyors and Valuers on a market value basis in the sum of £850,000. Upon reviewing the current market, the directors do not consider the market value of the property to have altered by the financial year-end.

5

Debtors

Current

2024
£

2023
£

Other debtors

-

6,116

 

-

6,116

 

Amthal Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

677

Accruals and deferred income

1,080

1,080

1,080

1,757

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

651,000

651,000

Other non-current financial liabilities

 

106,917

105,548

 

757,917

756,548

7

Provisions for liabilities

Deferred tax
£

Total
£

At 1 July 2023

32,036

32,036

Additional provisions

2,003

2,003

At 30 June 2024

34,039

34,039

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

650,250

650,250

Directors loan account

750

750

651,000

651,000

 

Amthal Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

8

Loans and borrowings (continued)

Other borrowings

The LendInvest loan is denominated in with a nominal interest rate of 4.97%, and the final instalment is due on 12 December 2027. The carrying amount at year end is £650,250 (2023 - £650,250).

The lender has a debenture over all the assets of the company and a legal charge over the investment properties.

9

Related party transactions

Summary of transactions with other related parties


Amthal Fire & Security Limited

Amthal Fire & Security Limited are under the ultimate control of the same individuals as the company.

 
During the year, further company expenses were paid by Amthal Fire & Security Limited. There are no specific terms of repayment or interest charged on this loan.

 

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

105,548

105,548

Advanced

1,369

1,369

At end of period

106,917

106,917

2023

Other related parties
£

Total
£

At start of period

717,304

717,304

Advanced

38,244

38,244

Repaid

(653,175)

(653,175)

Interest transactions

3,175

3,175

At end of period

105,548

105,548

10

Ultimate controlling party

The ultimate controlling party are the directors, by virtue of their joint shareholding.