| AM Global (Uk) Limited |
|
| Report to the director on the preparation of the unaudited statutory accounts of AM Global (Uk) Limited for the year ended 31 July 2018 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AM Global (Uk) Limited for the year ended 31 July 2018 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/ |
This report is made solely to the director of AM Global (UK) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare, for your approval, the financial statements of AM Global (UK) Limited and state those matters that we have agreed to state to the director of AM Global (UK) Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility, to anyone other than the company and its director, for our work or for this report.
It is your duty to ensure AM Global (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AM Global (UK) Limited. You consider that AM Global (UK) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of AM Global (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
|
| CHARTERHOUSE WHITTENBURY ASSOCIATES |
| Certified Accountants |
| 403 Hornsey Road |
| Islington |
| LONDON |
| N19 4DX |
|
| 19 July 2019 |
|
| AM Global (Uk) Limited |
| Registered number: |
08593170 |
| Balance Sheet |
| as at 31 July 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Current assets |
| Stocks |
|
|
29,371 |
|
|
- |
| Debtors |
3 |
|
136,007 |
|
|
161,517 |
| Investments held as current assets |
4 |
|
333,017 |
|
|
192,526 |
| Cash at bank and in hand |
|
|
216,078 |
|
|
254,948 |
|
|
|
714,473 |
|
|
608,991 |
|
| Creditors: amounts falling due within one year |
5 |
|
(74,387) |
|
|
(32,232) |
|
| Net current assets |
|
|
|
640,086 |
|
|
576,759 |
|
| Total assets less current liabilities |
|
|
|
640,086 |
|
|
576,759 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(594,811) |
|
|
(611,202) |
|
|
|
| Net assets/(liabilities) |
|
|
|
45,275 |
|
|
(34,443) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
45,175 |
|
|
(34,543) |
|
| Shareholder's funds |
|
|
|
45,275 |
|
|
(34,443) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his 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. |
|
|
|
|
| Mr. Ashraf Mengrani |
| Director |
| Approved by the board on 19 July 2019 |
|
| AM Global (Uk) Limited |
| Notes to the Accounts |
| for the year ended 31 July 2018 |
|
|
| 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. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
7,539 |
|
56,971 |
|
Other debtors |
128,468 |
|
104,546 |
|
|
|
|
|
|
136,007 |
|
161,517 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Investments held as current assets |
2018 |
|
2017 |
| £ |
£ |
|
Fair value |
|
Investments |
333,017 |
|
192,526 |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans and overdrafts |
1,811 |
|
- |
|
Trade creditors |
42,259 |
|
37,195 |
|
PAYE |
846 |
|
846 |
|
VAT |
(5,448) |
|
(35,679) |
|
Accruals |
114 |
|
- |
|
Other creditors |
32,870 |
|
29,870 |
|
|
|
|
|
|
74,387 |
|
32,232 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade creditors |
58,556 |
|
- |
|
Other creditors |
536,255 |
|
611,202 |
|
|
|
|
|
|
594,811 |
|
611,202 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Controlling party |
|
|
The Company considers A. Mengrani to be its ultimate controlling party. |
|
|
| 8 |
Other information |
|
|
AM Global (Uk) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
403 Hornsey Road |
|
Islington |
|
London |
|
N19 4DX |
