IRIS Accounts Production v24.3.0.553 03163055 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031630552023-03-31031630552024-03-31031630552023-04-012024-03-31031630552022-03-31031630552022-04-012023-03-31031630552023-03-3103163055ns15:EnglandWales2023-04-012024-03-3103163055ns14:PoundSterling2023-04-012024-03-3103163055ns10:Director12023-04-012024-03-3103163055ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103163055ns10:SmallEntities2023-04-012024-03-3103163055ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3103163055ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103163055ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103163055ns10:FullAccounts2023-04-012024-03-310316305512023-04-012024-03-3103163055ns10:OrdinaryShareClass12023-04-012024-03-3103163055ns10:Director22023-04-012024-03-3103163055ns10:CompanySecretary12023-04-012024-03-3103163055ns10:RegisteredOffice2023-04-012024-03-3103163055ns5:CurrentFinancialInstruments2024-03-3103163055ns5:CurrentFinancialInstruments2023-03-3103163055ns5:Non-currentFinancialInstruments2024-03-3103163055ns5:Non-currentFinancialInstruments2023-03-3103163055ns5:ShareCapital2024-03-3103163055ns5:ShareCapital2023-03-3103163055ns5:RetainedEarningsAccumulatedLosses2024-03-3103163055ns5:RetainedEarningsAccumulatedLosses2023-03-3103163055ns5:NetGoodwill2023-04-012024-03-3103163055ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3103163055ns5:PlantMachinery2023-04-012024-03-3103163055ns5:FurnitureFittings2023-04-012024-03-3103163055ns5:NetGoodwill2023-03-3103163055ns5:NetGoodwill2024-03-3103163055ns5:NetGoodwill2023-03-3103163055ns5:LandBuildings2023-03-3103163055ns5:PlantMachinery2023-03-3103163055ns5:FurnitureFittings2023-03-3103163055ns5:LandBuildings2023-04-012024-03-3103163055ns5:LandBuildings2024-03-3103163055ns5:PlantMachinery2024-03-3103163055ns5:FurnitureFittings2024-03-3103163055ns5:LandBuildings2023-03-3103163055ns5:PlantMachinery2023-03-3103163055ns5:FurnitureFittings2023-03-3103163055ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3103163055ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3103163055ns5:Non-currentFinancialInstruments2023-04-012024-03-3103163055ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-03-3103163055ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-03-3103163055ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3103163055ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3103163055ns5:HirePurchaseContracts2024-03-3103163055ns5:HirePurchaseContracts2023-03-3103163055ns5:WithinOneYear2024-03-3103163055ns5:WithinOneYear2023-03-3103163055ns5:BetweenOneFiveYears2024-03-3103163055ns5:BetweenOneFiveYears2023-03-3103163055ns5:AllPeriods2024-03-3103163055ns5:AllPeriods2023-03-3103163055ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 03163055 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

AM Labels Ltd

AM Labels Ltd (Registered number: 03163055)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


AM Labels Ltd

Company Information
for the Year Ended 31 March 2024







Directors: A F Mariani
Mrs J Mariani





Secretary: Mrs J Mariani





Registered office: Unit 1
Acan Business Park, Garrard Way
Telford Way Industrial Estate
Kettering
Northamptonshire
NN16 8TD





Registered number: 03163055 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
AM Labels Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AM Labels Ltd for the year ended 31 March 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of AM Labels Ltd, as a body, in accordance with the terms of our engagement letter dated 18 June 2021. Our work has been undertaken solely to prepare for your approval the financial statements of AM Labels Ltd and state those matters that we have agreed to state to the Board of Directors of AM Labels Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AM Labels Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that AM Labels Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AM Labels Ltd. You consider that AM Labels Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AM Labels Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


1 November 2024

AM Labels Ltd (Registered number: 03163055)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 5 - -
Tangible assets 6 1,393,929 1,430,145
1,393,929 1,430,145

Current assets
Stocks 345,566 253,878
Debtors 7 429,409 386,379
Cash at bank 169,767 349,661
944,742 989,918
Creditors
Amounts falling due within one year 8 743,815 727,480
Net current assets 200,927 262,438
Total assets less current liabilities 1,594,856 1,692,583

Creditors
Amounts falling due after more than one
year

9

(630,539

)

(768,269

)

Provisions for liabilities (84,219 ) (63,961 )
Net assets 880,098 860,353

Capital and reserves
Called up share capital 11 2 2
Retained earnings 880,096 860,351
Shareholders' funds 880,098 860,353

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 directors acknowledge their 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.

AM Labels Ltd (Registered number: 03163055)

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by:





A F Mariani - Director


AM Labels Ltd (Registered number: 03163055)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

AM Labels 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on a straight line basis
Fixtures, fittings and equipment
-
33% on a straight line basis and 20% on a straight line basis

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


AM Labels Ltd (Registered number: 03163055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued
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.

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 20 (2023 - 22 ) .

5. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2023
and 31 March 2024 30,000
Amortisation
At 1 April 2023
and 31 March 2024 30,000
Net book value
At 31 March 2024 -
At 31 March 2023 -

AM Labels Ltd (Registered number: 03163055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. Tangible fixed assets
Fixtures,
fittings
Land and Plant and and
buildings machinery equipment Totals
£    £    £    £   
Cost
At 1 April 2023 1,311,549 131,312 138,365 1,581,226
Additions 1,001 38,990 1,649 41,640
Disposals - - (2,874 ) (2,874 )
At 31 March 2024 1,312,550 170,302 137,140 1,619,992
Depreciation
At 1 April 2023 24,648 64,172 62,261 151,081
Charge for year 13,887 27,083 34,481 75,451
Eliminated on disposal - - (469 ) (469 )
At 31 March 2024 38,535 91,255 96,273 226,063
Net book value
At 31 March 2024 1,274,015 79,047 40,867 1,393,929
At 31 March 2023 1,286,901 67,140 76,104 1,430,145

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 349,677 298,975
Other debtors 6,792 23,927
Tax - 12,429
Prepayments and accrued income 72,940 51,048
429,409 386,379

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 94,844 86,756
Hire purchase contracts (see note 10) 45,595 45,595
Trade creditors 342,653 357,450
Corporation tax 12,723 -
Social security and other taxes 14,847 15,790
VAT 77,212 83,381
Other creditors 9,786 6,361
Directors' loan accounts 126,348 126,348
Accruals and deferred income 19,807 5,799
743,815 727,480

AM Labels Ltd (Registered number: 03163055)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Loans and borrowings 584,967 677,103
Hire purchase contracts (see note 10) 45,572 91,166
630,539 768,269

Included within creditors: amounts falling due after more than one year is an amount of £421,043 (2023: £388,967) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Hire purchase creditors are secured on the assets concerned. Bank loans and overdrafts are secured against the assets of the company by the form of a debenture and by a fixed and floating charge.

10. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 45,595 45,595
Between one and five years 45,572 91,166
91,167 136,761

Non-cancellable operating leases
2024 2023
£    £   
Within one year 860 2,346
Between one and five years - 391
860 2,737

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2