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REGISTERED NUMBER: 10335951 (England and Wales)















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: Mr D J Smith





REGISTERED OFFICE: Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL





REGISTERED NUMBER: 10335951 (England and Wales)





ACCOUNTANTS: Swindells LLP
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 1 1
Tangible assets 5 139,303 199,417
139,304 199,418

CURRENT ASSETS
Stocks 350,955 960,628
Debtors 6 292,932 516,447
Cash at bank and in hand 20,081 41,673
663,968 1,518,748
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

1,854,597

2,053,510
NET CURRENT LIABILITIES (1,190,629 ) (534,762 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,051,325

)

(335,344

)

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(13,333

)

(73,128

)

PROVISIONS FOR LIABILITIES - (10,404 )
NET LIABILITIES (1,064,658 ) (418,876 )

Ameauto Limited (Registered number: 10335951)

Balance Sheet - continued
31 March 2024

2024 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings (1,064,668 ) (418,886 )
SHAREHOLDERS' FUNDS (1,064,658 ) (418,876 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2025 and were signed by:





Mr D J Smith - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 13 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 December 2022
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 30 December 2022 1

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 31 December 2022 11,263 233,650 29,753
Additions - - -
At 31 March 2024 11,263 233,650 29,753
DEPRECIATION
At 31 December 2022 4,504 67,758 9,467
Charge for period 1,408 51,843 6,343
At 31 March 2024 5,912 119,601 15,810
NET BOOK VALUE
At 31 March 2024 5,351 114,049 13,943
At 30 December 2022 6,759 165,892 20,286

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 9,917 14,627 299,210
Additions - 2,189 2,189
At 31 March 2024 9,917 16,816 301,399
DEPRECIATION
At 31 December 2022 7,905 10,159 99,793
Charge for period 629 2,080 62,303
At 31 March 2024 8,534 12,239 162,096
NET BOOK VALUE
At 31 March 2024 1,383 4,577 139,303
At 30 December 2022 2,012 4,468 199,417

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 241,179 396,281
Other debtors 51,753 120,166
292,932 516,447

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 14,022 10,000
Trade creditors 859,011 909,730
Taxation and social security 772,330 851,648
Other creditors 209,234 282,132
1,854,597 2,053,510

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 13,333 24,167
Other creditors - 48,961
13,333 73,128

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2022
£    £   
Other loans 36,170 96,215
Other creditors 163,164 228,352
199,334 324,567

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: £    £   
10 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
£    £   
Mr D J Smith
Balance outstanding at start of period 38,810 136,937
Amounts advanced 15,926 39,483
Amounts repaid (45,242 ) (137,610 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 9,494 38,810

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).