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COMPANY REGISTRATION NUMBER: 05880356
AMCO CONSULTANCY LIMITED
Filleted Unaudited Financial Statements
31 August 2024
AMCO CONSULTANCY LIMITED
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,126,186
677,278
Current assets
Debtors
6
10,395
1,625
Cash at bank and in hand
12,246
2,961
--------
-------
22,641
4,586
Creditors: amounts falling due within one year
7
241,495
150,810
---------
---------
Net current liabilities
218,854
146,224
------------
---------
Total assets less current liabilities
907,332
531,054
Creditors: amounts falling due after more than one year
8
852,751
494,790
---------
---------
Net assets
54,581
36,264
---------
---------
Capital and reserves
Called up share capital
80
80
Profit and loss account
54,501
36,184
--------
--------
Shareholders funds
54,581
36,264
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AMCO CONSULTANCY LIMITED
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 29 November 2024 , and are signed on behalf of the board by:
Ms Shital Amin
Dr Nishal Amin
Director
Director
Ms Nita Amin
Director
Company registration number: 05880356
AMCO CONSULTANCY LIMITED
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 781-783 Harrow Road, Sudbury Town, Wembley, Middlesex, HA0 2LP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the disclosure exemptions available under paragraph 1.12 of FRS 102:
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The Turnover shown in profit and loss accounts represents book-keeping and secretarial fees received during the year and property rental income excluding value added tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current tax liability recognised in the reporting period. Tax is also recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Because of losses brought forward no provision for taxation has been made in the account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
18% reducing balance
Furniture and Fittings
-
18% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 September 2023
669,291
6,247
6,854
682,392
Additions
450,346
450,346
------------
-------
-------
------------
At 31 August 2024
1,119,637
6,247
6,854
1,132,738
------------
-------
-------
------------
Depreciation
At 1 September 2023
2,476
2,638
5,114
Charge for the year
679
759
1,438
------------
-------
-------
------------
At 31 August 2024
3,155
3,397
6,552
------------
-------
-------
------------
Carrying amount
At 31 August 2024
1,119,637
3,092
3,457
1,126,186
------------
-------
-------
------------
At 31 August 2023
669,291
3,771
4,216
677,278
------------
-------
-------
------------
6. Debtors
2024
2023
£
£
Trade debtors
10,395
1,625
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
210,341
142,270
Trade creditors
26,216
6,045
Corporation tax
4,938
2,495
---------
---------
241,495
150,810
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
852,751
494,790
---------
---------
Other creditors represents directors' accounts as shown in below note 10.
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Ms Shital Amin
( 171,590)
( 89,344)
( 260,934)
Dr Nishal Amin
( 147,500)
( 81,344)
( 228,844)
Ms Nita Amin
( 175,700)
( 187,273)
( 362,973)
---------
---------
---------
( 494,790)
( 357,961)
( 852,751)
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Ms Shital Amin
( 170,563)
( 1,027)
( 171,590)
Dr Nishal Amin
( 147,500)
( 147,500)
Ms Nita Amin
( 174,400)
( 1,300)
( 175,700)
---------
-------
---------
( 492,463)
( 2,327)
( 494,790)
---------
-------
---------
10. Related party transactions
The company was under the control of the directors throughout the current and previous year. Mrs Nita Amin is the managing director and a shareholder in the company. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.