Registered number
12383628
ACMG TRADING LTD
Filleted Accounts
31 December 2024
ACMG TRADING LTD
Registered number: 12383628
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,063 30,985
Investments 4 739 739
29,802 31,724
Current assets
Stocks 50,000 65,000
Debtors 5 85,113 87,077
Cash at bank and in hand 12,047 45,319
147,160 197,396
Creditors: amounts falling due within one year 6 (117,711) (153,703)
Net current assets 29,449 43,693
Total assets less current liabilities 59,251 75,417
Creditors: amounts falling due after more than one year 7 (24,104) -
Net assets 35,147 75,417
Capital and reserves
Called up share capital 1 1
Profit and loss account 35,146 75,416
Shareholder's funds 35,147 75,417
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.
Caglar Gunduz
Director
Approved by the board on 20 January 2025
ACMG TRADING LTD
Notes to the Accounts
for the year ended 31 December 2024
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 over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 3,797 37,980 41,777
Additions 8,429 - 8,429
At 31 December 2024 12,226 37,980 50,206
Depreciation
At 1 January 2024 1,297 9,495 10,792
Charge for the year 856 9,495 10,351
At 31 December 2024 2,153 18,990 21,143
Net book value
At 31 December 2024 10,073 18,990 29,063
At 31 December 2023 2,500 28,485 30,985
4 Investments
Other
investments
£
Cost
At 1 January 2024 739
At 31 December 2024 739
5 Debtors 2024 2023
£ £
Trade debtors 12,167 60,168
Other debtors 72,946 26,909
85,113 87,077
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 18,353
Trade creditors 39,967 28,312
Taxation and social security costs 1,651 30,096
Other creditors 76,093 76,942
117,711 153,703
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,104 -
8 Other information
ACMG TRADING LTD is a private company limited by shares and incorporated in England. Its registered office is:
163 Tubbenden Lane
Orpington
England
BR6 9PS
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