A & M Promotions (UK) Limited
Registered number: 04684391
Balance Sheet
as at 31 October 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 105,909 130,679
Current assets
Debtors 3 49,659 27,360
Cash at bank and in hand 250 250
49,909 27,610
Creditors: amounts falling due within one year 4 (92,002) (72,363)
Net current liabilities (42,093) (44,753)
Total assets less current liabilities 63,816 85,926
Creditors: amounts falling due after more than one year 5 (40,678) (63,899)
Net assets 23,138 22,027
Capital and reserves
Called up share capital 3 3
Profit and loss account 23,135 22,024
Shareholders' funds 23,138 22,027
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K G Ford
Director
Approved by the board on 2 August 2017
A & M Promotions (UK) Limited
Notes to the Accounts
for the year ended 31 October 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% on reducing balance
Equipment 10% on reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 November 2015 16,570 347,459 364,029
Additions - 12,450 12,450
Disposals - (13,400) (13,400)
At 31 October 2016 16,570 346,509 363,079
Depreciation
At 1 November 2015 4,950 228,400 233,350
Charge for the year 1,162 31,818 32,980
On disposals - (9,160) (9,160)
At 31 October 2016 6,112 251,058 257,170
Net book value
At 31 October 2016 10,458 95,451 105,909
At 31 October 2015 11,620 119,059 130,679
3 Debtors 2016 2015
£ £
Trade debtors 23,214 27,360
Other debtors 26,445 -
49,659 27,360
4 Creditors: amounts falling due within one year 2016 2015
£ £
Bank loans and overdrafts 36,128 24,411
Obligations under finance lease and hire purchase contracts 23,221 23,221
Trade creditors 9,954 5,032
Other taxes and social security costs 22,699 17,821
Other creditors - 1,878
92,002 72,363
5 Creditors: amounts falling due after one year 2016 2015
£ £
Obligations under finance lease and hire purchase contracts 40,678 63,899
6 Other information
A & M Promotions (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 2, Building 16 Bilton Ind Est
Humber Avenue
Coventry
CV3 1JL
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