Registered number
07865474
Ammax Ltd
Filleted Accounts
30 November 2023
Ammax Ltd
Registered number: 07865474
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 527,517 263,161
Current assets
Debtors 4 484,548 646,087
Cash at bank and in hand 145,329 45,027
629,877 691,114
Creditors: amounts falling due within one year 5 (387,874) (318,311)
Net current assets 242,003 372,803
Total assets less current liabilities 769,520 635,964
Creditors: amounts falling due after more than one year 6 (99,595) (80,963)
Net assets 669,925 555,001
Capital and reserves
Called up share capital 100 100
Profit and loss account 669,825 554,901
Shareholder's funds 669,925 555,001
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Alex Jones
Director
Approved by the board on 29 November 2024
Ammax Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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:
Plant and machinery 25% Reducing balance
Fixtures, fittings, tools and equipment 25% Reducing balance
Vehicles 25% Reducing balance
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 2023 2022
Number Number
Average number of persons employed by the company 30 19
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 127,258 474,215 601,473
Additions 202,646 183,000 385,646
At 30 November 2023 329,904 657,215 987,119
Depreciation
At 1 December 2022 68,178 270,134 338,312
Charge for the year 53,466 67,824 121,290
At 30 November 2023 121,644 337,958 459,602
Net book value
At 30 November 2023 208,260 319,257 527,517
At 30 November 2022 59,080 204,081 263,161
4 Debtors 2023 2022
£ £
Trade debtors 484,548 642,787
Other debtors - 3,300
484,548 646,087
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 82,959 82,976
Obligations under finance lease and hire purchase contracts 109,800 69,750
Trade creditors 188,531 93,635
Corporation tax 40,317 14,314
Other taxes and social security costs (56,476) 42,815
Other creditors 22,743 14,821
387,874 318,311
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 118,508 225,028
Obligations under finance lease and hire purchase contracts 65,187 103,023
Other creditors (84,100) (247,088)
99,595 80,963
Obligations under financial lease and hire purchase contracts
Net carrying amount for assets under hire purchase agreement included within fixed assets: plant and machinery 174,987
Total future minimum payments
not later than one year 109,800
not later than five years 65,187
174,987
7 Other information
Ammax Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Harmer Street
Gravesend
Kent
DA12 2AX
Ammax Ltd 07865474 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 Mr Alex Jones No description of principal activity 07865474 2021-12-01 2022-11-30 07865474 core:WithinOneYear 2022-11-30 07865474 core:AfterOneYear 2022-11-30 07865474 core:ShareCapital 2022-11-30 07865474 core:RetainedEarningsAccumulatedLosses 2022-11-30 07865474 2022-12-01 2023-11-30 07865474 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07865474 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07865474 bus:Director40 2022-12-01 2023-11-30 07865474 1 2022-12-01 2023-11-30 07865474 2 2022-12-01 2023-11-30 07865474 core:PlantMachinery 2022-12-01 2023-11-30 07865474 core:Vehicles 2022-12-01 2023-11-30 07865474 countries:England 2022-12-01 2023-11-30 07865474 bus:FRS102 2022-12-01 2023-11-30 07865474 bus:FilletedAccounts 2022-12-01 2023-11-30 07865474 2023-11-30 07865474 core:WithinOneYear 2023-11-30 07865474 core:AfterOneYear 2023-11-30 07865474 core:ShareCapital 2023-11-30 07865474 core:RetainedEarningsAccumulatedLosses 2023-11-30 07865474 core:PlantMachinery 2023-11-30 07865474 core:Vehicles 2023-11-30 07865474 2022-11-30 07865474 core:PlantMachinery 2022-11-30 07865474 core:Vehicles 2022-11-30 iso4217:GBP xbrli:pure