Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12753208 2023-02-01 2024-01-31 12753208 2022-02-01 2023-01-31 12753208 2024-01-31 12753208 2023-01-31 12753208 c:Director1 2023-02-01 2024-01-31 12753208 d:OfficeEquipment 2023-02-01 2024-01-31 12753208 d:OfficeEquipment 2024-01-31 12753208 d:OfficeEquipment 2023-01-31 12753208 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12753208 d:CurrentFinancialInstruments 2024-01-31 12753208 d:CurrentFinancialInstruments 2023-01-31 12753208 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12753208 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12753208 d:ShareCapital 2024-01-31 12753208 d:ShareCapital 2023-01-31 12753208 d:RetainedEarningsAccumulatedLosses 2024-01-31 12753208 d:RetainedEarningsAccumulatedLosses 2023-01-31 12753208 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-01-31 12753208 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 12753208 c:OrdinaryShareClass1 2023-02-01 2024-01-31 12753208 c:OrdinaryShareClass1 2024-01-31 12753208 c:OrdinaryShareClass1 2023-01-31 12753208 c:FRS102 2023-02-01 2024-01-31 12753208 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12753208 c:FullAccounts 2023-02-01 2024-01-31 12753208 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12753208 6 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12753208










AMFE AGENCY LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024



 
AMFE AGENCY LTD
REGISTERED NUMBER: 12753208

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,718
-

Fixed Asset Investments
 5 
8,402
62,500

  
10,120
62,500

Current assets
  

Debtors: amounts falling due within one year
 6 
846,056
769,844

Cash at bank and in hand
 7 
7
5,466

  
846,063
775,310

Creditors: amounts falling due within one year
 8 
(567,398)
(487,445)

Net current assets
  
 
 
278,665
 
 
287,865

Total assets less current liabilities
  
288,785
350,365

  

Net assets
  
288,785
350,365


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
288,685
350,265

  
288,785
350,365


Page 1

 
AMFE AGENCY LTD
REGISTERED NUMBER: 12753208

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Allam
Director
Date: 24 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
AMFE AGENCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
AMFE AGENCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
1.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 4

 
AMFE AGENCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

 
1.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
1.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to
Page 5

 
AMFE AGENCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)


1.11
Financial instruments (continued)

settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


2.


General information

AMFE Agency Limited is a limited company incorporated in England and Wales.  The Company's registered office is The Stables, Little Coldharbour Farm, Tong Lane, Lamberhurst, Tunbridge Wells, Kent TN3 8AD.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
AMFE AGENCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
2,006



At 31 January 2024

2,006



Depreciation


Charge for the year on owned assets
288



At 31 January 2024

288



Net book value



At 31 January 2024
1,718



At 31 January 2023
-


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 February 2023
62,500


Disposals
(54,099)



At 31 January 2024
8,401





6.


Debtors

2024
2023
£
£


Amounts owed by connected entities
834,317
753,358

Other debtors
11,739
16,486

846,056
769,844


Page 7

 
AMFE AGENCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
7
5,466



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
205,470
36,567

Taxation and social security
-
1,625

Other creditors
361,928
449,253

567,398
487,445



9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
7
5,466




Financial assets measured at fair value through profit or loss comprise cash held.


10.


Deferred taxation


A deferred tax asset has not been recognised on the trading losses carried forward of £18,849 (2023: £NIL) on the basis that it is unlikely the losses will be utilised for the foreseeable future.


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



Page 8