REGISTERED NUMBER: |
Ameauto Limited |
Unaudited Financial Statements |
for the Period 31 December 2022 to 31 March 2024 |
REGISTERED NUMBER: |
Ameauto Limited |
Unaudited Financial Statements |
for the Period 31 December 2022 to 31 March 2024 |
Ameauto Limited (Registered number: 10335951) |
Contents of the Financial Statements |
for the Period 31 December 2022 to 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Ameauto Limited |
Company Information |
for the Period 31 December 2022 to 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Atlantic House |
8 Bell Lane |
Bellbrook Industrial Estate |
Uckfield |
East Sussex |
TN22 1QL |
Ameauto Limited (Registered number: 10335951) |
Balance Sheet |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
Ameauto Limited (Registered number: 10335951) |
Balance Sheet - continued |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
Ameauto Limited (Registered number: 10335951) |
Notes to the Financial Statements |
for the Period 31 December 2022 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Ameauto Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents revenue, net of VAT, from commercial transactions under which the company supplies customers the goods and services that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for those goods and services. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Ameauto Limited (Registered number: 10335951) |
Notes to the Financial Statements - continued |
for the Period 31 December 2022 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company contributes to employees' defined contribution pension schemes. Contributions payable to the schemes are charged to profit or loss in the period to which they relate. |
Going concern note |
These financial statements have been prepared on a going concern basis notwithstanding the deficiency of net assets shown on the Balance Sheet. The director has assessed whether the going concern basis of preparation continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. |
At the time of approving the financial statements the director believes that all appropriate measures have been or will be taken to ensure that the company will be able to continue its operations for at least the next twelve months. The director has reviewed the financial situation and forecasts and is confident that the going concern basis remains appropriate. |
Ameauto Limited (Registered number: 10335951) |
Notes to the Financial Statements - continued |
for the Period 31 December 2022 to 31 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 31 December 2022 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and |
leasehold | machinery | fittings |
£ | £ | £ |
COST |
At 31 December 2022 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 31 December 2022 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 December 2022 |
Ameauto Limited (Registered number: 10335951) |
Notes to the Financial Statements - continued |
for the Period 31 December 2022 to 31 March 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 31 December 2022 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 31 December 2022 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
Ameauto Limited (Registered number: 10335951) |
Notes to the Financial Statements - continued |
for the Period 31 December 2022 to 31 March 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2022 |
£ | £ |
Other loans |
Other creditors | 163,164 | 228,352 |
Lloyds Bank Commercial Finance Limited holds fixed and floating charges over the property and assets of the company in a charge dated 18 January 2017. |
The Funding Circle loan is secured by a personal guarantee given by the director. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2022 |
value: | £ | £ |
Ordinary | £1 | 10 | 10 |
11. | OTHER FINANCIAL COMMITMENTS |
At the balance sheet date the company had outstanding operating lease commitments totalling £630,000 (2022 - £105,000). |
Ameauto Limited (Registered number: 10335951) |
Notes to the Financial Statements - continued |
for the Period 31 December 2022 to 31 March 2024 |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the periods ended 31 March 2024 and 30 December 2022: |
2024 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Loans made to the director during the period are unsecured and repayable on demand. Interest was charged on the loan at a rate of 2% until 5 April 2023 and 2.25% after totalling £926 (2022 - 798). |
13. | RELATED PARTY DISCLOSURES |
During the year the company paid dividends to the director totalling £56,310 (2022 - £187,650). |