0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 252,679 81,845 17,084 98,929 153,750 170,834 xbrli:pure xbrli:shares iso4217:GBP 09747727 2023-09-01 2024-08-31 09747727 2024-08-31 09747727 2023-08-31 09747727 2022-09-01 2023-08-31 09747727 2023-08-31 09747727 2022-08-31 09747727 core:PlantMachinery 2023-09-01 2024-08-31 09747727 bus:Director1 2023-09-01 2024-08-31 09747727 bus:Director2 2023-09-01 2024-08-31 09747727 bus:Director3 2023-09-01 2024-08-31 09747727 core:PlantMachinery 2023-08-31 09747727 core:PlantMachinery 2024-08-31 09747727 core:WithinOneYear 2024-08-31 09747727 core:WithinOneYear 2023-08-31 09747727 core:AfterOneYear 2024-08-31 09747727 core:AfterOneYear 2023-08-31 09747727 core:ShareCapital 2024-08-31 09747727 core:ShareCapital 2023-08-31 09747727 core:RetainedEarningsAccumulatedLosses 2024-08-31 09747727 core:RetainedEarningsAccumulatedLosses 2023-08-31 09747727 core:PlantMachinery 2023-08-31 09747727 bus:SmallEntities 2023-09-01 2024-08-31 09747727 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09747727 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09747727 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09747727 bus:FullAccounts 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: 09747727
6AM Development Limited
Filleted Unaudited Financial Statements
For the year ended
31 August 2024
6AM Development Limited
Financial Statements
Year ended 31 August 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
6AM Development Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
153,750
170,834
Current assets
Debtors
6
119,747
62,056
Cash at bank and in hand
96,752
31,774
---------
--------
216,499
93,830
Creditors: amounts falling due within one year
7
482,952
263,487
---------
---------
Net current liabilities
266,453
169,657
---------
---------
Total assets less current liabilities
112,703
1,177
Creditors: amounts falling due after more than one year
8
8,333
18,338
---------
--------
Net liabilities
121,036
17,161
---------
--------
Capital and reserves
Called up share capital
105
105
Profit and loss account
121,141
17,266
---------
--------
Shareholders deficit
121,036
17,161
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
6AM Development Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 7 March 2025 , and are signed on behalf of the board by:
Mr BH Gavin
Mr DJ McKie
Director
Director
Ms RSJ Wilson
Director
Company registration number: 09747727
6AM Development Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hackney Depot, 5 Sheep Lane, London, E8 4QS, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company balance sheet is in deficit, however the company meets its ongoing working capital requirement through the support of the Directors by way of loan accounts. It is the opinion of the directors that such support will continue and accordingly the accounts are prepared on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 3 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 September 2023 and 31 August 2024
252,679
252,679
---------
---------
Depreciation
At 1 September 2023
81,845
81,845
Charge for the year
17,084
17,084
---------
---------
At 31 August 2024
98,929
98,929
---------
---------
Carrying amount
At 31 August 2024
153,750
153,750
---------
---------
At 31 August 2023
170,834
170,834
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
111,043
53,398
Other debtors
8,704
8,658
---------
--------
119,747
62,056
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
430
Social security and other taxes
27,136
26,660
Other creditors
445,386
226,827
---------
---------
482,952
263,487
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,333
18,338
-------
--------
9. Directors' advances, credits and guarantees
The directors' loan accounts were not in debit at any time throughout the year.