ACCOUNTS - Final Accounts preparation

AMG INVESTMENTS AND CONSULTANCY LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-03-312021-03-31No description of principal activity1false1true2020-04-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08384641 2020-04-01 2021-03-31 08384641 2019-04-01 2020-03-31 08384641 2021-03-31 08384641 2020-03-31 08384641 c:Director1 2020-04-01 2021-03-31 08384641 c:Director2 2020-04-01 2021-03-31 08384641 c:Director2 2021-03-31 08384641 c:RegisteredOffice 2020-04-01 2021-03-31 08384641 d:CurrentFinancialInstruments 2021-03-31 08384641 d:CurrentFinancialInstruments 2020-03-31 08384641 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 08384641 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 08384641 d:ShareCapital 2021-03-31 08384641 d:ShareCapital 2020-03-31 08384641 d:RetainedEarningsAccumulatedLosses 2021-03-31 08384641 d:RetainedEarningsAccumulatedLosses 2020-03-31 08384641 c:FRS102 2020-04-01 2021-03-31 08384641 c:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 08384641 c:FullAccounts 2020-04-01 2021-03-31 08384641 c:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure

Company registration number: 08384641

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2021

	AMG INVESTMENTS AND CONSULTANCY LIMITED


AMG INVESTMENTS AND CONSULTANCY LIMITED

COMPANY INFORMATION

Directors	L Govinden
	J Silva (appointed 3 November 2021)


Registered number	08384641


Registered office	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


AMG INVESTMENTS AND CONSULTANCY LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 3


AMG INVESTMENTS AND CONSULTANCY LIMITED REGISTERED NUMBER:08384641

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	498,836		533,467
Cash at bank and in hand		815		73,812
		499,651		607,279
Creditors: amounts falling due within one year	5	(112,211)		(75,813)
Net current assets			387,440		531,466
Total assets less current liabilities			387,440		531,466

Net assets			387,440		531,466

Capital and reserves
Called up share capital	100	100
Profit and loss account	387,340	531,366
	387,440	531,466

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J Silva

Director

Date: 8 March 2023

The notes on pages 2 to 3 form part of these financial statements.

Page 1


AMG INVESTMENTS AND CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

AMG Investments and Consultancy Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The Coronavirus pandemic is creating significant uncertainty globally and the company is not immune to this. The director is working to ensure the safety of the employees and maintaining the continuity of operations as far as he is able, whilst adhering to government advice. Whilst the pandemic will have a financial impact on the company, at this stage, it is not possible to reliably forecast what this may be. However, the director has taken all relevant measures to ensure the company is able to safeguard cash flow, jobs, customers and supplies to put them in the best possible position to be able to pick up on opportunities as they arise once business starts to return to normal. Given the uncertainties that exist, this may cast significant doubt on the company’s ability to continue as a going concern, however, the director believes that the actions he has taken should enable it to continue in operational existence for the foreseeable future.

2.3

Revenue

Revenue represents the income received for the consultancy services supplied to the company's clients.

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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AMG INVESTMENTS AND CONSULTANCY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Debtors

					2021	2020
					£	£


Other debtors	498,836	533,467
	498,836	533,467

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	4,150	8,124
Corporation tax	48,773	48,773
Other creditors	55,038	14,666
Accruals and deferred income	4,250	4,250
	112,211	75,813

6.	Related party transactions
	As at 31 March 2021 the company owed £13,371 to the director (2020 - £14,666). No interest is charged on this loan account.

Page 3