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Registration number: NI644542

AM Group Properties Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 October 2024

 

AM Group Properties Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Balance Sheet

4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

AM Group Properties Ltd

Company Information

Director

Mr Adrian Maurice Moore

Registered office

Unit A3 Heron Business Park
39-40 Heron Road
Belfast
Co. Antrim
BT3 9LE

Accountants

Hamilton Morris Waugh
Chartered Certified Accountants
34 Dufferin Avenue
Bangor
Down
BT20 3AA

 

AM Group Properties Ltd

Director's Report for the Year Ended 31 October 2024

The director presents his report and the abridged financial statements for the year ended 31 October 2024.

Director of the company

The director who held office during the year was as follows:

Mr Adrian Maurice Moore

Principal activity

The principal activity of the company is that of letting property.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 4 March 2025
 

.........................................
Mr Adrian Maurice Moore
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AM Group Properties Ltd
for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AM Group Properties Ltd for the year ended 31 October 2024 as set out on pages 4 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants (ACCA), we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of AM Group Properties Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AM Group Properties Ltd and state those matters that we have agreed to state to the Board of Directors of AM Group Properties Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AM Group Properties Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AM Group Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AM Group Properties Ltd. You consider that AM Group Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AM Group Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hamilton Morris Waugh
Chartered Certified Accountants
34 Dufferin Avenue
Bangor
Down
BT20 3AA

4 March 2025

 

AM Group Properties Ltd

(Registration number: NI644542)
Abridged Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

126,605

126,605

Current assets

 

Cash at bank and in hand

 

22,524

13,007

Creditors: Amounts falling due within one year

(4,606)

(4,489)

Net current assets

 

17,918

8,518

Total assets less current liabilities

 

144,523

135,123

Accruals and deferred income

 

(950)

(950)

Net assets

 

143,573

134,173

Capital and reserves

 

Called up share capital

5

2

2

Retained earnings

143,571

134,171

Shareholders' funds

 

143,573

134,173

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 March 2025
 

.........................................
Mr Adrian Maurice Moore
Director

 

AM Group Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
Unit A3 Heron Business Park
39-40 Heron Road
Belfast
Co. Antrim
BT3 9LE
Northern Ireland

These financial statements were authorised for issue by the director on 4 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

AM Group Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land & Buildings

Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

AM Group Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 November 2023

126,605

126,605

At 31 October 2024

126,605

126,605

Depreciation

Carrying amount

At 31 October 2024

126,605

126,605

At 31 October 2023

126,605

126,605

Included within the net book value of land and buildings above is £126,605 (2023 - £126,605) in respect of long leasehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2