Company Registration No. 08451699 (England and Wales)
AMC Energi Ltd
Unaudited accounts
for the year ended 31 March 2024
AMC Energi Ltd
Unaudited accounts
Contents
AMC Energi Ltd
Company Information
for the year ended 31 March 2024
Directors
Mr A L Platt
Mr D S R Oliver
Mrs A M Oliver
Mrs G Platt
Company Number
08451699 (England and Wales)
Registered Office
Unit 9, Penn Farm Studios
Harston Road
Haslingfield
Cambs
CB23 1JZ
Accountants
Accountibbleity Ltd
7, Station Road West
Whittlesford
Cambridgeshire
CB22 4NL
AMC Energi Ltd
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
36,001
-
Creditors: amounts falling due within one year
(85,208)
(286,282)
Net current assets/(liabilities)
29,286
(45,216)
Total assets less current liabilities
33,119
(45,041)
Creditors: amounts falling due after more than one year
(15,784)
(36,771)
Provisions for liabilities
Net assets/(liabilities)
16,606
(81,846)
Called up share capital
105
105
Profit and loss account
16,501
(81,951)
Shareholders' funds
16,606
(81,846)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by
Mr A L Platt
Director
Company Registration No. 08451699
AMC Energi Ltd
Notes to the Accounts
for the year ended 31 March 2024
AMC Energi Ltd is a private company, limited by shares, registered in England and Wales, registration number 08451699. The registered office is Unit 9, Penn Farm Studios, Harston Road, Haslingfield, Cambs, CB23 1JZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Turnover from the sale of goods is recognised when the goods have been delivered and the title has passed.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion. This can only be done where the amount of turnover can be measured reliably; it is probable that the Company will receive the consideration due; the stage of completion can be measured reliably; and the costs incurred and the cost to complete the contract can be measured reliably.
Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the term of the lease.
Finance costs are charged to the Income and Retained earnings over the term of the debt using the effective interest method, so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in the Statement of Income and Retained Earnings in the period in which they are incurred.
The Company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the Statement of Income and Retained Earnings when they fall due. Any amounts not paid are shown within creditors on the balance sheet.
The assets of the scheme are held separately from the Company in independently administered funds.
AMC Energi Ltd
Notes to the Accounts
for the year ended 31 March 2024
Current and deferred taxation
Taxation represents the sum of tax currently payable and deferred tax.
The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the accounting period.
Deferred Tax is recognised on all timing differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the accounting period.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Typically over 3 to 5 years on a straight line basis.
Work in Progress has been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress cost includes a relevant proportion of overheads according to the stage of completion.
The Company only enters into basic financial instrument transactions that result from the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in Statement of Income and Retained Earnings.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
-
1,706
1,706
At 31 March 2024
4,000
1,706
5,706
At 1 April 2023
-
1,531
1,531
Charge for the year
167
175
342
At 31 March 2024
167
1,706
1,873
At 31 March 2024
3,833
-
3,833
At 31 March 2023
-
175
175
AMC Energi Ltd
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
54,014
228,905
Accrued income and prepayments
4,034
4,049
Other debtors
10,545
6,612
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
16,567
49,442
Trade creditors
4,599
8,247
Taxes and social security
31,046
8,750
Loans from directors
710
12,354
7
Creditors: amounts falling due after more than one year
2024
2023
A secured debt which was secured via a fixed and floating charge on the Company's assets was fully discharged during 2024 (2023 - £26,911)
A Government backed Bounce Back Loan was taken out in June 2020 and the analysis of the maturity can be found below:
Amounts falling due within 1 year £10,000 (2023 - £10,0000)
Amounts falling due 2-5 years £15,784 (2023- £24,357)
Allotted, called up and fully paid:
100 Ordinary shares Of £1 each of £1 each
100
100
1 Ordinary Share A of £1 of £1 each
1
1
1 Ordinary Share B of £1 of £1 each
1
1
1 Ordinary Share C of £1 of £1 each
1
1
1 Ordinary Share D of £1 of £1 each
1
1
1 Ordinary Share E of £1 of £1 each
1
1
AMC Energi Ltd
Notes to the Accounts
for the year ended 31 March 2024
9
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
12,500
12,500
Later than one year and not later than five years
37,500
-
10
Average number of employees
During the year the average number of employees was 6 (2023: 6).