AMF (Old Steine) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09827697 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2019 to 31 December 2019

for

AMF (Old Steine) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

D M Frizzell

J Anderson-Mann

A Spencer

Registered office:

85 Church Road

Hove

East Sussex

BN3 2BB

Registered number:

09827697 (England and Wales)

Accountants:

Wilson Sandford Limited

Chartered accountants

85 Church Road

Hove

East Sussex

BN3 2BB

Fixed assets

Investments

4

-

81

Current assets

Stocks

-

1,382,638

Debtors

5

12,737

326,228

Cash at bank

864

878

13,601

1,709,744

Creditors

Amounts falling due within one year

6

13,599

1,801,371

Net current assets/(liabilities)

2

(91,627

)

Total assets less current liabilities

2

(91,546

)

Capital and reserves

Called up share capital

7

2

2

Retained earnings

-

(91,548

)

Shareholders' funds

2

(91,546

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2020 and were signed on its behalf by:

J Anderson-Mann - Director

1.	Statutory information

AMF (Old Steine) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The company year end was shortened to 9 months to bring it in to line with other members of it's group. The comparatives which reflect a 12 month period, are therefore not entirely comparable.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about AMF (Old Steine) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.This is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work-in-progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing Work-in-progress to its present location and condition.

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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

3.	Employees and directors

The average number of employees during the period was NIL (2019 - NIL).

4.	Fixed asset investments

Shares in

group

undertakin

£

Cost

At 1 April 2019

81

Disposals

(81

)

At 31 December 2019

-

Net book value

At 31 December 2019

-

At 31 March 2019

81

5.

Debtors: amounts falling due within one year

2019

2019

£

£

Amounts owed by associates

5,327

-

Other debtors

7,410

326,228

12,737

326,228

6.

Creditors: amounts falling due within one year

2019

2019

£

£

Trade creditors

-

376

Amounts owed to group undertakings

7,251

-

Taxation and social security

-

469

Other creditors

6,348

1,800,526

13,599

1,801,371

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2019

value:

£

£

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

2

2

8.	Directors' advances, credits and guarantees

Advances were made to the directors of £6,600 (2019 - £nil), with repayments of £nil (2019 - £nil). The balance of £6,600 (2019 - £nil) is included in debtors. This loan is on an interest free and repayable on demand basis.

9.	Related party disclosures

Within creditors is £nil (2019 - £144,948) owed to the directors.