Company Registration No. 06265203 (England and Wales)
AAMM (LONDON) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
PAGES FOR FILING WITH REGISTRAR
AAMM (LONDON) LTD
COMPANY INFORMATION
Director
B Lee
(Appointed 12 February 2018)
Company number
06265203
Registered office
The Old Vic
The Cut
London
SE1 8NB
Accountants
Gerald Edelman
73 Cornhill
London
EC3V 3QQ
AAMM (LONDON) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
AAMM (LONDON) LTD
BALANCE SHEET
AS AT 31 MAY 2018
31 May 2018
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Cash at bank and in hand
2,285
2,285
Creditors: amounts falling due within one year
3
(176,477)
(176,477)
Net current liabilities
(174,192)
(174,192)
Capital and reserves
Called up share capital
4
5
5
Profit and loss reserves
(174,197)
(174,197)
Total equity
(174,192)
(174,192)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2018 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 25 January 2019 and are signed on its behalf by:
B Lee
Director
Company Registration No. 06265203
AAMM (LONDON) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
- 2 -
1
Accounting policies
Company information

AAMM (London) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Old Vic, The Cut, London, SE1 8NB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company was dormant throughout the current year and previous year.
1.2
Going concern

At the time of approving the financial statements, the director has stated his intention to close down the company. Thus the director has not adopted the going concern basis of accounting on preparing the financial statements, which have been prepared on a break-up basis.

1.3
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

AAMM (LONDON) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2018
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Taxation

No liability to UK corporation tax arose on ordinary activities for the year ended 31 May 2018 nor for the year ended 31 May 2017.

 

3
Creditors: amounts falling due within one year
2018
2017
£
£
Other creditors
176,477
176,477
4
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
5 Ordinary of £1 each
5
5
5
5
5
Related party transactions

Included in other creditors at the year end is an aggregate amount of £171,521 (2017: £171,521) due to the shareholders.

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