Am-ex (American Exports) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC074357 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

AM-EX (AMERICAN EXPORTS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I W D D McClain

Mrs L E M McClain

SECRETARY:

Mrs L E M McClain

REGISTERED OFFICE:

Crosbie Towers

West Kilbride

Ayrshire

KA23 9PH

REGISTERED NUMBER:

SC074357 (Scotland)

ACCOUNTANTS:

Kean Jarman & Company

Chartered Accountants

27 Ingram Street

Glasgow

G1 1HA

FIXED ASSETS

Tangible assets

4

107,018

90,509

CURRENT ASSETS

Stocks

216,773

216,773

Debtors

5

3,832

2,280

Cash at bank and in hand

76,729

37,118

297,334

256,171

CREDITORS

Amounts falling due within one year

6

15,202

14,960

NET CURRENT ASSETS

282,132

241,211

TOTAL ASSETS LESS CURRENT LIABILITIES

389,150

331,720

PROVISIONS FOR LIABILITIES

5,628

-

NET ASSETS

383,522

331,720

CAPITAL AND RESERVES

Called up share capital

54

54

Retained earnings

383,468

331,666

SHAREHOLDERS' FUNDS

383,522

331,720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 8 December 2021 and were signed on its behalf by:

I W D D McClain - Director

Mrs L E M McClain - Director

1.	STATUTORY INFORMATION

Am-ex (American Exports) Limited 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

10% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2020

77,388

26,132

2,308

105,828

Additions

-

19,854

-

19,854

At 31 March 2021

77,388

45,986

2,308

125,682

DEPRECIATION

At 1 April 2020

-

13,948

1,371

15,319

Charge for year

-

3,204

141

3,345

At 31 March 2021

-

17,152

1,512

18,664

NET BOOK VALUE

At 31 March 2021

77,388

28,834

796

107,018

At 31 March 2020

77,388

12,184

937

90,509

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

-

534

VAT

3,832

1,746

3,832

2,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Tax

9,599

2,210

Other creditors

2,118

10,000

Accrued expenses

3,485

2,750

15,202

14,960