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Registered number: 02747692
A.M.C. Jets Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mrs A M Crossman
Mr R J Crossman
Secretary Mrs A M Crossman
Company Number 02747692
Registered Office Unit 3 Lakeside Business Park
Lichfield Road
Tamworth
Staffordshire
B78 3NT
Accountants Inform Accounting Ltd
St James House
65 Mere Green Road
Sutton Coldfield
West Midlands
B75 5BY
Page 1
Page 2
Statement of Financial Position
Registered number: 02747692
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,294 33,043
30,294 33,043
CURRENT ASSETS
Stocks 5 991,122 859,302
Debtors 6 436,003 561,416
Cash at bank and in hand 1,188,061 999,838
2,615,186 2,420,556
Creditors: Amounts Falling Due Within One Year 7 (181,829 ) (143,034 )
NET CURRENT ASSETS (LIABILITIES) 2,433,357 2,277,522
TOTAL ASSETS LESS CURRENT LIABILITIES 2,463,651 2,310,565
PROVISIONS FOR LIABILITIES
Deferred Taxation (337 ) (2,200 )
NET ASSETS 2,463,314 2,308,365
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 2,463,214 2,308,265
SHAREHOLDERS' FUNDS 2,463,314 2,308,365
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Page 3
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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr R J Crossman
Director
15/07/2025
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
A.M.C. Jets Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02747692 . The registered office is Unit 3 Lakeside Business Park, Lichfield Road, Tamworth, Staffordshire, B78 3NT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
2.2. Turnover
Turnover is the total amount receivable by the Company in the ordinary course of business for work executed and services provided, excluding VAT.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold 10% Straight line
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 33 1/3% Straight line
2.4. Leasing and Hire Purchase Contracts
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2.5. Stocks and Work in Progress
Stock in trade has been valued at the lower of cost or net realisable value.
2.6. Foreign Currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included in the profit and loss account.
2.7. Taxation
Deferred tax us recognised in respect of all timing differences that have originated but not reversed at the statement of financial postion date.
2.8. Pensions
The Company operates a defined contribution pension scheme for the benefit of its directors and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 November 2023 5,613 15,940 36,499 29,540
Additions - - 6,500 -
As at 31 October 2024 5,613 15,940 42,999 29,540
Depreciation
As at 1 November 2023 2,582 10,254 14,863 28,161
Provided during the period 561 1,423 5,679 275
As at 31 October 2024 3,143 11,677 20,542 28,436
Net Book Value
As at 31 October 2024 2,470 4,263 22,457 1,104
As at 1 November 2023 3,031 5,686 21,636 1,379
Computer Equipment Total
£ £
Cost
As at 1 November 2023 11,892 99,484
Additions - 6,500
As at 31 October 2024 11,892 105,984
Depreciation
As at 1 November 2023 10,581 66,441
Provided during the period 1,311 9,249
As at 31 October 2024 11,892 75,690
Net Book Value
As at 31 October 2024 - 30,294
As at 1 November 2023 1,311 33,043
Included in leasehold land and property are improvements to premises with a cost of £5,613.
5. Stocks
2024 2023
£ £
Finished goods 991,122 859,302
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 417,222 543,645
Other debtors 18,781 17,771
436,003 561,416
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 51,410 94,350
Other creditors 12,964 18,807
Taxation and social security 117,455 29,877
181,829 143,034
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 8,324 8,327
Later than one year and not later than five years 13,878 22,206
22,202 30,533
10. Directors Advances, Credits and Guarantees
The Company's bank have a debenture charge which is a fixed and floating charge over all property and assets of the Company.
11. Related Party Transactions
The Company is controlled by Mrs A M Crossman by virtue of her majority shareholding.
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