AMA (Majestic) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC136884

AMA (Majestic) Limited

Filleted Unaudited Financial Statements

31 December 2024

AMA (Majestic) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Investments	5		766,748	766,748

Current assets

Debtors	6	2,260,830	2,262,630
Cash at bank and in hand		2,430	2,268
		------------	------------
		2,263,260	2,264,898

Creditors: amounts falling due within one year	7	3,190,719		3,191,469
		------------		------------
Net current liabilities			927,459	926,571
			---------	---------
Total assets less current liabilities			( 160,711)	( 159,823)
			---------	---------
Net liabilities			( 160,711)	( 159,823)
			---------	---------

Capital and reserves

Called up share capital	9	34,714	34,714
Profit and loss account		( 195,425)	( 194,537)
		---------	---------
Shareholders deficit		( 160,711)	( 159,823)
		---------	---------

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 December 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 .

AMA (Majestic) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

A.B. Afshar

Director

Company registration number: SC136884

AMA (Majestic) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Scotland ( SC136884 ). The address of the registered office is 15 Coates Crescent, Edinburgh, EH3 7AF.

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. as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements relate to the individual entity.

Fixed asset investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

Going concern

At the balance sheet date, there is a net liability position of £160,711. The financial statements have been prepared on a going concern basis as the company relies on the support of its directors. The directors will not call upon the loan to repaid within the next 12 months.

Group accounts

The company is entitled to exemption under section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

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. Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash and short term highly liquid investments. Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

4. Staff costs

The average number of persons employed by the company during the year, including the directors was nil (2022: nil).

5. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	1,465,857
	------------
Impairment
At 1 January 2024 and 31 December 2024	699,109
	------------

Carrying amount
At 31 December 2024	766,748
	------------
At 31 December 2023	766,748
	------------

Holdings of 20% or more

The company owns 20% or more of the issued share capital of the companies listed below

Subsidiaries

AMA (Majestic 1) Ltd previously James Mackintosh & Son (Metalworkers) Ltd

Country of registration or incorporation: Scotland

Nature of business: property investment & development

Class of shares held: Ordinary

Proportion of shares held: 100%

Majestic (Belford) Limited

Country of registration or incorporation: Scotland

Nature of business: property investment & development

Class of shares held: Ordinary

Proportion of shares held: 100%

6. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings	1,920,830	1,922,630
Other debtors	340,000	340,000
	------------	------------
	2,260,830	2,262,630
	------------	------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Other loans	861,519	861,519
Accruals and deferred income	1,750	2,500
Social security and other taxes	100,569	100,569
Director loan accounts	398,071	398,071
Other creditors	1,828,810	1,828,810
	------------	------------
	3,190,719	3,191,469
	------------	------------

8. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2024	2023
	£	£

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	861,519	861,519
	---------	---------

Fair value adjustment in year through profit and loss £nil (2023 £48,766).

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary A shares of £ 1 each	33,714	33,714	33,714	33,714
Ordinary B shares of £ 1 each	1,000	1,000	1,000	1,000
	--------	--------	--------	--------
	34,714	34,714	34,714	34,714
	--------	--------	--------	--------

The 'A' and 'B' shares have equal rights and rank pari passu in all respects.

10. Related party transactions

The directors have advanced loans to the company in the sum of £398,071 (2023 £398,071). The loans are unsecured, interest free and repayable upon demand. At 31 December 2024 the company was due AMA (New Town) Ltd £ 1,828,810 (2023 £1,828,010), the loan is unsecured, interest free and repayable upon demand. The directors of the company are also directors and majority shareholders of AMA (New Town) Ltd. Debtors include a loan to AMA (Majestic 1) Ltd of £2,600 (2023 £5,000) and a loan to Majestic Belford Ltd £1,918,230 (2023 £1,920,030). These loans are unsecured, interest free and repayable upon demand.