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REGISTERED NUMBER: 07021348 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

AMG Sheet Metal Limited

AMG Sheet Metal Limited (Registered number: 07021348)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AMG Sheet Metal Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr A Garton
Mrs M R Garton





REGISTERED OFFICE: Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 07021348 (England and Wales)





ACCOUNTANTS: Asquith Accountants Ltd
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

AMG Sheet Metal Limited (Registered number: 07021348)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 201,826 85,629

CURRENT ASSETS
Stocks 393,055 441,384
Debtors 5 28,969 25,510
Cash at bank and in hand 98,778 130
520,802 467,024
CREDITORS
Amounts falling due within one year 6 369,297 374,143
NET CURRENT ASSETS 151,505 92,881
TOTAL ASSETS LESS CURRENT
LIABILITIES

353,331

178,510

CREDITORS
Amounts falling due after more than one
year

7

(179,993

)

(97,598

)

PROVISIONS FOR LIABILITIES (39,437 ) (18,564 )
NET ASSETS 133,901 62,348

CAPITAL AND RESERVES
Called up share capital 20 4
Retained earnings 133,881 62,344
SHAREHOLDERS' FUNDS 133,901 62,348

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

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

The directors acknowledge their 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.

AMG Sheet Metal Limited (Registered number: 07021348)

Balance Sheet - continued
31 December 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:




Mr A Garton - Director



Mrs M R Garton - Director


AMG Sheet Metal Limited (Registered number: 07021348)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

AMG Sheet Metal 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.

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 net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on cost and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

AMG Sheet Metal Limited (Registered number: 07021348)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 201,047
Additions 161,110
Disposals (54,780 )
At 31 December 2024 307,377
DEPRECIATION
At 1 January 2024 115,418
Charge for year 38,780
Eliminated on disposal (48,647 )
At 31 December 2024 105,551
NET BOOK VALUE
At 31 December 2024 201,826
At 31 December 2023 85,629

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024 65,927
Additions 158,922
At 31 December 2024 224,849
DEPRECIATION
At 1 January 2024 6,044
Charge for year 34,692
At 31 December 2024 40,736
NET BOOK VALUE
At 31 December 2024 184,113
At 31 December 2023 59,883

AMG Sheet Metal Limited (Registered number: 07021348)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other debtors 28,969 25,510

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,000 31,747
Hire purchase contracts 32,986 12,553
Trade creditors 282,006 277,922
Taxation and social security 24,884 29,185
Other creditors 19,421 22,736
369,297 374,143

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 4,167 14,167
Hire purchase contracts 158,688 49,904
Other creditors 17,138 33,527
179,993 97,598