Company Registration No. 04779660 (England and Wales)
Amacsports Limited
Unaudited accounts
for the year ended 31 May 2024
Amacsports Limited
Unaudited accounts
Contents
Amacsports Limited
Company Information
for the year ended 31 May 2024
Directors
Mrs E Lee
Mr D Lee
Company Number
04779660 (England and Wales)
Registered Office
Office 16 Miners Way
Aylesham
Canterbury
CT3 3BF
England
Accountants
Austin, Taylor Limited
16 Dover Street
Canterbury
Kent
CT1 3HD
Amacsports Limited
Statement of financial position
as at 31 May 2024
Cash at bank and in hand
1,117
7,688
Creditors: amounts falling due within one year
(90,142)
(100,984)
Net current assets
37,793
146,719
Total assets less current liabilities
37,793
146,719
Creditors: amounts falling due after more than one year
(37,490)
(97,272)
Called up share capital
2
2
Profit and loss account
301
49,445
Shareholders' funds
303
49,447
For the year ending 31 May 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 21 September 2024 and were signed on its behalf by
Mrs E Lee
Director
Company Registration No. 04779660
Amacsports Limited
Notes to the Accounts
for the year ended 31 May 2024
Amacsports Limited is a private company, limited by shares, registered in England and Wales, registration number 04779660. The registered office is Office 16 Miners Way, Aylesham, Canterbury, CT3 3BF, England.
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, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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:
Fixtures & fittings
20% on Reducing Balance
Computer equipment
15% on Cost
Other tangible fixed assets
20% on Cost
Amacsports Limited
Notes to the Accounts
for the year ended 31 May 2024
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 June 2023
6,000
16,888
22,888
At 31 May 2024
6,000
16,888
22,888
At 1 June 2023
6,000
16,888
22,888
At 31 May 2024
6,000
16,888
22,888
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
11,663
159,448
171,111
At 31 May 2024
11,663
159,448
171,111
At 1 June 2023
11,663
159,448
171,111
At 31 May 2024
11,663
159,448
171,111
Amounts falling due within one year
Accrued income and prepayments
5,405
12,360
Other debtors
115,111
217,800
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
34,631
36,875
Trade creditors
1,009
1,365
Taxes and social security
52,402
34,688
Amacsports Limited
Notes to the Accounts
for the year ended 31 May 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan account
93,410
3,155
54,500
42,065
Directors loan account
93,409
3,156
54,500
42,065
186,819
6,311
109,000
84,130
At the year end the directors loan accounts incurred interest charges at 2.0% per annum. (2021: 2.0% per annum).
The maximum loan outstanding during the year was E Lee £93,410 and D Lee £93,409.
The directors balances are disclosed within Other Debtors.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).