Amitek Consulting Ltd. - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC403833 (Scotland)

AMITEK CONSULTING LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

R Mishra

S Mishra

REGISTERED OFFICE:

4 Royal Crescent

Glasgow

G3 7SL

BUSINESS ADDRESS:

2/1 (Flat 35)

3 Woodrow Road

Glasgow

G41 5PN

REGISTERED NUMBER:

SC403833 (Scotland)

ACCOUNTANTS:

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Amitek Consulting Ltd. for the year ended 31st March 2022 which comprise the Income Statement, Balance Sheet, 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Amitek Consulting Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Amitek Consulting Ltd. and state those matters that we have agreed to state to the Board of Directors of Amitek Consulting Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Amitek Consulting Ltd. 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 Amitek Consulting Ltd.. You consider that Amitek Consulting Ltd. 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 Amitek Consulting Ltd.. 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.

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

20th December 2022

FIXED ASSETS

Tangible assets

4

459

135

CURRENT ASSETS

Debtors

5

56,032

151,740

Cash at bank

2,830

11,922

58,862

163,662

CREDITORS

Amounts falling due within one year

6

47,948

63,203

NET CURRENT ASSETS

10,914

100,459

TOTAL ASSETS LESS CURRENT LIABILITIES

11,373

100,594

CREDITORS

Amounts falling due after more than one year

7

12,299

16,518

NET (LIABILITIES)/ASSETS

(926

)

84,076

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(1,026

)

83,976

SHAREHOLDERS' FUNDS

(926

)

84,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th December 2022 and were signed on its behalf by:

R Mishra - Director

1.	STATUTORY INFORMATION

Amitek Consulting Ltd. is a private company, limited by shares , registered in Scotland. 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 (£).

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.

Going Concern Basis

The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future.

Turnover

The turnover shown in the profit and loss account represents the sales value of consultancy services carried out during the year, exclusive of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Office equipment

-

33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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 year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1st April 2021

3,231

Additions

500

At 31st March 2022

3,731

DEPRECIATION

At 1st April 2021

3,096

Charge for year

176

At 31st March 2022

3,272

NET BOOK VALUE

At 31st March 2022

459

At 31st March 2021

135

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

9,120

8,640

Other debtors

46,912

143,100

56,032

151,740

Other debtors includes tax payable under CTA 2010 s.455 which will be recoverable when the amounts owed by R Mishra and S Mishra are repaid.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts (see note 8)

4,539

3,482

Trade creditors

4,050

5,263

Taxation and social security

15,894

31,557

Other creditors

23,465

22,901

47,948

63,203

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans (see note 8)

12,299

16,518

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

-

1,060

8.

LOANS

An analysis of the maturity of loans is given below:

31.3.22

31.3.21

£

£

Amounts falling due within one year or on demand:

Bank loans

4,539

3,482

Amounts falling due between one and two years:

Bank loans - 1-2 years

3,998

3,891

Amounts falling due between two and five years:

Bank loans - 2-5 years

8,301

11,567

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

-

1,060

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

50

A Ordinary

£1

50

50

50

B Ordinary

£1

50

50

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2022 and 31st March 2021:

31.3.22

31.3.21

£

£

R Mishra

Balance outstanding at start of year

105,614

96,059

Amounts advanced

27,500

19,900

Amounts repaid

(97,708

)

(10,345

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

35,406

105,614

S Mishra

Balance outstanding at start of year

15,510

25,810

Amounts advanced

39,311

45

Amounts repaid

(73,708

)

(10,345

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(18,887

)

15,510

This amount bears no interest and has no fixed repayment terms.

11.	ULTIMATE CONTROLLING PARTY