REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
AMLEVCO LIMITED |
REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
AMLEVCO LIMITED |
AMLEVCO LIMITED (REGISTERED NUMBER: 09107453) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AMLEVCO LIMITED |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
27 Daventry Street |
London |
NW1 6TD |
AMLEVCO LIMITED (REGISTERED NUMBER: 09107453) |
Abridged Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
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. |
AMLEVCO LIMITED (REGISTERED NUMBER: 09107453) |
Abridged Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the director and authorised for issue on |
AMLEVCO LIMITED (REGISTERED NUMBER: 09107453) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Amlevco 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Short leasehold | - |
Improvements to property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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. |
AMLEVCO LIMITED (REGISTERED NUMBER: 09107453) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Going concern |
The director has considered the Company's position at the time of signing the financial statements, and the impact COVID-19 and the Russia/Ukraine conflict had on the financial results. As such under the current circumstances, it is difficult to produce meaningful forecasts for the remainder of the financial year and medium term. Nevertheless, the director has considered the current financial strength of the Company, together with the range of measures the director is able to take to mitigate ongoing costs should he need to. |
Based on this, the director has concluded that he has a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future. He therefore believes that the financial statements have been prepared appropriately on the going concern basis.. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2023 |
Additions |
Disposals | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
AMLEVCO LIMITED (REGISTERED NUMBER: 09107453) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 July 2023 | 472,322 |
Additions | 117,453 |
At 30 June 2024 | 589,775 |
DEPRECIATION |
At 1 July 2023 | 167,518 |
Charge for year | 86,293 |
At 30 June 2024 | 253,811 |
NET BOOK VALUE |
At 30 June 2024 | 335,964 |
At 30 June 2023 | 304,804 |
5. | SECURED DEBTS |
The bank loan included under creditors is supported by a guarantee from the UK Government to the bank under the Bounce Back Loan Scheme (BBLS). |
The bank loan bears interest of 2.5% per annum. |
6. | RELATED PARTY DISCLOSURES |
During the year the company made loan advances to Storm Lounge Ltd, a Company in which the director has a controlling interest. These advances were interest free and repayable on demand. The balance outstanding at the year end was £14,780 (2023: £Nil). |