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Company Registration No. 12938167 (England and Wales)
AM Renovations Ltd Unaudited accounts for the year ended 31 October 2024
AM Renovations Ltd Unaudited accounts Contents
Page
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AM Renovations Ltd Company Information for the year ended 31 October 2024
Director
Adrian Morgan
Company Number
12938167 (England and Wales)
Registered Office
4 Greenfield Caerloen NP18 3DN
Accountants
Evans Entwistle Venta House Maes-glas Newport NP20 2NS
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of AM Renovations Ltd for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AM Renovations Ltd for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Venta House Maes-glas Newport NP20 2NS 16 April 2025
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AM Renovations Ltd Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
322 
11,500 
Current assets
Debtors
28,376 
26,916 
Cash at bank and in hand
905 
2,592 
29,281 
29,508 
Creditors: amounts falling due within one year
(29,342)
(45,420)
Net current liabilities
(61)
(15,912)
Total assets less current liabilities
261 
(4,412)
Creditors: amounts falling due after more than one year
- 
(8,526)
Provisions for liabilities
Deferred tax
(61)
(2,185)
Net assets/(liabilities)
200 
(15,123)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
198 
(15,125)
Shareholders' funds
200 
(15,123)
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 April 2025 and were signed on its behalf by
Adrian Morgan Director Company Registration No. 12938167
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AM Renovations Ltd Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
AM Renovations Ltd is a private company, limited by shares, registered in England and Wales, registration number 12938167. The registered office is 4 Greenfield, Caerloen, NP18 3DN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
5 years straight-line
Computer equipment
5 years straight-line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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AM Renovations Ltd Notes to the Accounts for the year ended 31 October 2024
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2023
18,300 
1,414 
19,714 
Disposals
(18,300)
(10)
(18,310)
At 31 October 2024
- 
1,404 
1,404 
Depreciation
At 1 November 2023
7,625 
589 
8,214 
Charge for the year
- 
493 
493 
On disposals
(7,625)
- 
(7,625)
At 31 October 2024
- 
1,082 
1,082 
Net book value
At 31 October 2024
- 
322 
322 
At 31 October 2023
10,675 
825 
11,500 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
753 
- 
Trade debtors
3,254 
8,858 
Other debtors
24,369 
18,058 
28,376 
26,916 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
9,537 
VAT
- 
1,772 
Trade creditors
2,918 
11,915 
Taxes and social security
25,664 
21,423 
Other creditors
760 
773 
29,342 
45,420 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
8,526 
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AM Renovations Ltd Notes to the Accounts for the year ended 31 October 2024
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
61 
2,185 
2024 
2023 
£ 
£ 
Provision at start of year
2,185 
2,934 
Credited to the profit and loss account
(2,124)
(749)
Provision at end of year
61 
2,185 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Adrian Morgan
general loan outstanding
9,292 
- 
1,084 
8,208 
9,292 
- 
1,084 
8,208 
The balance represents an interest free loan that is repayable to the company upon demand.
11
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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