Acorah Software Products - Accounts Production 16.1.300 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 09033522 Mr Mark Gaftarnik Mr Andrew Pearce iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09033522 2023-05-31 09033522 2024-05-31 09033522 2023-06-01 2024-05-31 09033522 frs-core:CurrentFinancialInstruments 2024-05-31 09033522 frs-core:Non-currentFinancialInstruments 2024-05-31 09033522 frs-core:PlantMachinery 2024-05-31 09033522 frs-core:PlantMachinery 2023-06-01 2024-05-31 09033522 frs-core:PlantMachinery 2023-05-31 09033522 frs-core:RevaluationReserve 2023-06-01 2024-05-31 09033522 frs-core:RevaluationReserve 2023-05-31 09033522 frs-core:RevaluationReserve 2024-05-31 09033522 frs-core:ShareCapital 2024-05-31 09033522 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 09033522 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09033522 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 09033522 frs-bus:SmallEntities 2023-06-01 2024-05-31 09033522 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09033522 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09033522 frs-bus:Director1 2023-06-01 2024-05-31 09033522 frs-bus:Director2 2023-06-01 2024-05-31 09033522 frs-countries:EnglandWales 2023-06-01 2024-05-31 09033522 2022-05-31 09033522 2023-05-31 09033522 2022-06-01 2023-05-31 09033522 frs-core:CurrentFinancialInstruments 2023-05-31 09033522 frs-core:Non-currentFinancialInstruments 2023-05-31 09033522 frs-core:RevaluationReserve 2023-05-31 09033522 frs-core:ShareCapital 2023-05-31 09033522 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 09033522
AMPG 2 Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 09033522
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2 551
Investment Properties 5 275,000 230,000
275,002 230,551
CURRENT ASSETS
Debtors 6 3,269 4,200
Cash at bank and in hand 24,004 31,491
27,273 35,691
Creditors: Amounts Falling Due Within One Year 7 (59,700 ) (109,950 )
NET CURRENT ASSETS (LIABILITIES) (32,427 ) (74,259 )
TOTAL ASSETS LESS CURRENT LIABILITIES 242,575 156,292
Creditors: Amounts Falling Due After More Than One Year 8 (62,295 ) (80,217 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,484 ) (8,038 )
NET ASSETS 163,796 68,037
CAPITAL AND RESERVES
Called up share capital 9 102 102
Revaluation reserve 10 70,271 33,821
Income Statement 93,423 34,114
SHAREHOLDERS' FUNDS 163,796 68,037
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Mark Gaftarnik
Director
21 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AMPG 2 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09033522 . The registered office is Donic House Wike Ridge Lane, Slaid Hill, Leeds, LS17 9JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern assumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on cost
2.5. Investment Properties
All investment properties are carried at fair value. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery
£
Cost or Valuation
As at 1 June 2023 12,046
Disposals (7,676 )
As at 31 May 2024 4,370
Depreciation
As at 1 June 2023 11,495
Provided during the period 549
Disposals (7,676 )
As at 31 May 2024 4,368
Net Book Value
As at 31 May 2024 2
As at 1 June 2023 551
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 230,000
Revaluations 45,000
As at 31 May 2024 275,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,269 4,200
3,269 4,200
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 822 226
Bank loans and overdrafts 10,000 10,000
Other creditors 31,389 96,189
Taxation and social security 17,489 3,535
59,700 109,950
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,333 23,333
Other creditors 48,962 56,884
62,295 80,217
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
10. Reserves
Revaluation Reserve
£
As at 1 June 2023 33,821
Transfer to profit and loss 36,450
As at 31 May 2024 70,271
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