Amigos Para Siempre Limited
Unaudited Financial Statements
For the year ended 30 June 2024
Pages for Filing with Registrar
Company Registration No. 14340315 (England and Wales)
Amigos Para Siempre Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
3 - 5
Amigos Para Siempre Limited
Balance Sheet
As at 30 June 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
163,581
130,002
Cash at bank and in hand
416,995
-
0
580,576
130,002
Creditors: amounts falling due within one year
4
(421,653)
(135,250)
Net current assets/(liabilities)
158,923
(5,248)
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
158,921
(5,250)
Total equity
158,923
(5,248)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
L I Chapman
Director
Company Registration No. 14340315
Amigos Para Siempre Limited
Statement of Changes in Equity
For the year ended 30 June 2024
Page 2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 6 September 2022
-
0
-
0
-
Period ended 30 June 2023:
Loss and total comprehensive income for the period
-
(5,250)
(5,250)
Issue of share capital
5
2
-
2
Balance at 30 June 2023
2
(5,250)
(5,248)
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
164,171
164,171
Balance at 30 June 2024
2
158,921
158,923
Amigos Para Siempre Limited
Notes to the Financial Statements
For the year ended 30 June 2024
Page 3
1
Accounting policies
Company information

Amigos Para Siempre Limited is a private company limited by shares incorporated in England and Wales. The registered office is: 6 Catherine Street, London, England, WC2B FJY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting

Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the

Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that thetrue

company has adequate resources to continue in operational existence for a period of at least 12 months

from the date of approval of the financial statements. Thus the directors continue to adopt the going

concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover comprises the amounts receivable, exclusive of Value Added Tax, for goods and services and for royalties from theatre, video and film productions, records, publishing, stock and amateur licensing and merchandising.

 

Revenue is recognised on a right to consideration basis.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Amigos Para Siempre Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
Page 4
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The company has no employees (excluding directors). The directors received no remuneration in the year in respect of qualifying services (2023: £nil).

2024
2023
Number
Number
Total
-
0
-
0
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
83,774
130,000
Other debtors
2
2
Prepayments and accrued income
79,805
-
0
163,581
130,002
Amigos Para Siempre Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 5
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
211,261
-
0
Corporation tax
52,367
-
0
Accruals and deferred income
158,025
135,250
421,653
135,250
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
2
2
2
2
6
Related party transactions

The company is jointly owned by The Really Useful Group Limited and Ab Brands Sociedad Limitada Unipersonal.

 

During the year the company entered into transactions with related parties as follows:

 

Purchases of £46,226 (2023: £nil) from The Really Useful Group Limited. At the year end the company was due £83,775 (2023: £130.001) from The Really Useful Group Limited.

 

Purchases of £211,261 (2023: £nil) from The Really Useful Theatre Company Limited, a wholly owned subsidiary of The Really Useful Group Limited. At the year end the company owed £211,261 (2023: £nil) to The Really Useful Theatre Company Limited.

 

Purchases of £411,001 (2023: £nil) from Escaway Limited an entity under common control with The Really Useful Group Limited.

7
Parent company

The Directors consider that there is no ultimate controlling party as the entity is jointly owned and controlled.

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