AMPP Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06445402 (England and Wales)

AMPP SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr A D Jackson

Mrs K M Lee

SECRETARY:

Mrs J Jackson

REGISTERED OFFICE:

2D Merlin Court

Lancaster Way Business Park

Ely

Cambridgeshire

CB6 3GN

REGISTERED NUMBER:

06445402 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Princes Court

Royal Way

Loughborough

Leicestershire

LE11 5XR

FIXED ASSETS

Property, plant and equipment

4

9,365

15,206

CURRENT ASSETS

Inventories

450

450

Debtors

5

150,602

160,329

Cash at bank

7

-

151,059

160,779

CREDITORS

Amounts falling due within one year

6

130,406

105,893

NET CURRENT ASSETS

20,653

54,886

TOTAL ASSETS LESS CURRENT LIABILITIES

30,018

70,092

CREDITORS

Amounts falling due after more than one year

7

(29,546

)

(12,587

)

PROVISIONS FOR LIABILITIES

(1,779

)

(2,889

)

NET (LIABILITIES)/ASSETS

(1,307

)

54,616

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(1,407

)

54,516

SHAREHOLDERS' FUNDS

(1,307

)

54,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 the Board of Directors and authorised for issue on 22 December 2021 and were signed on its behalf by:

Mrs K M Lee - Director

1.	STATUTORY INFORMATION

AMPP Services 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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The financial statements cover the individual entity.

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.

Revenue

Revenue represents amounts charged to customers for goods and services provided during the year, excluding value added tax. Revenue from the sale of goods is recognised when the significant risks and benefits of ownership of the product have transferred to the buyer. Revenue from services provided is recognised in the period in which the services are performed.

Property, plant and equipment

Property, plant and equipment assets are held at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its useful economic life:

Land and buildings Leasehold

50% Straight Line

Plant and machinery

10% Reducing Balance

Computer equipment

33.33% Straight Line

Fixtures, fittings & equipment

15% Reducing Balance

Government grants

Government grants are recognised when there is reasonable assurance that the grant will be received, and any conditions attached will be complied with. Grants are recognised as income over the period necessary to

match them with the related costs, for which they are intended to compensate, on a systematic basis.

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 7 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2020

2,313

60,248

62,561

Disposals

-

(3,437

)

(3,437

)

At 31 December 2020

2,313

56,811

59,124

DEPRECIATION

At 1 January 2020

2,313

45,042

47,355

Charge for year

-

2,919

2,919

Eliminated on disposal

-

(515

)

(515

)

At 31 December 2020

2,313

47,446

49,759

NET BOOK VALUE

At 31 December 2020

-

9,365

9,365

At 31 December 2019

-

15,206

15,206

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

65,956

65,195

Other debtors

84,646

95,134

150,602

160,329

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

17,548

29,117

Hire purchase contracts

-

4,857

Trade creditors

884

3,398

Taxation and social security

78,184

55,527

Other creditors

33,790

12,994

130,406

105,893

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

29,546

12,587

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank overdrafts

9,064

19,586

Bank loans

38,030

22,118

47,094

41,704

The bank borrowings are secured by a personal guarantee given by the director, Mr A Jackson.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

10.	OTHER FINANCIAL COMMITMENTS

The company has commitments due as follows:

2020

2019

£

£

Due in less than one year

20,327

24,796

Due between two and five years

28,980

9,660

49,307

34,456

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2020 and 31 December 2019:

2020

2019

£

£

Mr A D Jackson

Balance outstanding at start of year

81,859

58,090

Amounts advanced

58,226

63,434

Amounts repaid

(74,880

)

(39,665

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

65,205

81,859

Mrs K M Lee

Balance outstanding at start of year

4,304

-

Amounts advanced

4,995

8,526

Amounts repaid

(8,320

)

(4,222

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

979

4,304

Interest was charged on A Jackson's overdrawn director's current account at a rate of 2.5% in line with the rates issued by HMRC. No interest was charged on K Lee's director's current account. The loans are repayable on demand.

12.	EVENTS AFTER THE REPORTING PERIOD

The aggregate amount of dividends raised since the statement of financial position date amounts to £27,094.

13.	GOING CONCERN

The company has net liabilities as at 31 December 2020, despite this the directors consider it appropriate to prepare the accounts on a going concern basis as they believe the trade has only been temporarily effected by the Covid 19 pandemic. The validity of the going concern basis is dependent upon the continued support of the directors, the bank and the company's creditors.

The financial statements have been prepared on the going concern basis, which assumes the company will continue in operational existence for the foreseeable future.

Like many other businesses, the company's trade and operations have been significantly impacted adversely by the coronavirus outbreak during the year. The director is monitoring the exposure to the company's business and is referring to government and professional advice being published so that action can be considered which may help minimise the impact of this risk.

The director is confident that the company is in a position to manage the situation and possible outcomes,

while working to mitigate the risk where possible. For these reasons the director believes that the going

concern basis is appropriate.