Company registration number 08989644 (England and Wales)
AMCG ENTERPRISE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
5 APRIL 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
AMCG ENTERPRISE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
AMCG ENTERPRISE LIMITED
BALANCE SHEET
AS AT
5 APRIL 2024
05 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
866
Investment property
4
1,500,000
1,500,000
Investments
5
6,500,000
6,500,000
8,000,000
8,000,866
Current assets
Debtors
7
684
2,048
Investments
8
622,108
541,085
Cash at bank and in hand
21,710
32,553
644,502
575,686
Creditors: amounts falling due within one year
9
(472,109)
(480,533)
Net current assets
172,393
95,153
Total assets less current liabilities
8,172,393
8,096,019
Provisions for liabilities
(1,343,526)
(1,335,529)
Net assets
6,828,867
6,760,490
Capital and reserves
Called up share capital
100
100
Share premium account
6,500,000
6,500,000
Profit and loss reserves
328,767
260,390
Total equity
6,828,867
6,760,490

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

AMCG ENTERPRISE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
5 APRIL 2024
05 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 January 2025 and are signed on its behalf by:
Miss M Wallrock
Director
Company registration number 08989644 (England and Wales)
AMCG ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
- 3 -
1
Accounting policies
Company information

AMCG Enterprise Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial assets and liabilities and investment properties at fair value through profit or loss.

1.2
Turnover

Turnover represents hotel profits and property rental income due during the year.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

 

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

 

Current asset investments

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

AMCG ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Current tax is recognised on taxable profit for the current and, where not previously recognised, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
AMCG ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 5 -
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 6 April 2023 and 5 April 2024
23,490
Depreciation and impairment
At 6 April 2023
22,624
Depreciation charged in the year
866
At 5 April 2024
23,490
Carrying amount
At 5 April 2024
-
0
At 5 April 2023
866
4
Investment property
2024
£
Fair value
At 6 April 2023 and 5 April 2024
1,500,000

Investment property was revalued on an open market basis by the directors as at 5 April 2024.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
1,585,535
1,585,535
Accumulated depreciation
-
-
Carrying amount
1,585,535
1,585,535
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
6,500,000
6,500,000
6
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
622,108
541,085
AMCG ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 6 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
684
2,048
8
Current asset investments
2024
2023
£
£
Other investments
622,108
541,085
9
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
11,274
8,132
Other creditors
460,835
472,401
472,109
480,533
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