A.M.I. Development and Lettings Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: SC293262 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

A.M.I. DEVELOPMENT AND LETTINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A P Ismail

Mrs B Ismail

REGISTERED OFFICE:

Level One

211 Dumbarton Road

Mansfield Park

Glasgow

G11 6AA

REGISTERED NUMBER:

SC293262 (Scotland)

ACCOUNTANTS:

Independent Accountants in Scotland Limited

Level One

211 Dumbarton Road

Mansfield Park

Glasgow

G11 6AA

FIXED ASSETS

Tangible assets

4

614,529

614,529

CURRENT ASSETS

Cash at bank

54,779

27,944

CREDITORS

Amounts falling due within one year

5

618,729

585,854

NET CURRENT LIABILITIES

(563,950

)

(557,910

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,579

56,619

CREDITORS

Amounts falling due after more than one year

6

28,380

35,871

NET ASSETS

22,199

20,748

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

22,099

20,648

SHAREHOLDERS' FUNDS

22,199

20,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 31 August 2023 and were signed on its behalf by:

A P Ismail - Director

1.	STATUTORY INFORMATION

A.M.I. Development and Lettings 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.

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 NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 December 2021

and 30 November 2022

614,529

NET BOOK VALUE

At 30 November 2022

614,529

At 30 November 2021

614,529

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/22

30/11/21

£

£

Bank loans and overdrafts

-

811

Trade creditors

2,276

2,290

Taxation and social security

550

550

Other creditors

615,903

582,203

618,729

585,854

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/11/22

30/11/21

£

£

Bank loans

28,380

35,871

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

28,380

35,871

7.	RELATED PARTY DISCLOSURES

AMI 4 Limited (Company No: SC264371) is a related party of A.M.I. Development & Lettings Limited.

As at 30th November 2022, the company owed Mr A Ismail (Director) £165,293.33 (2021: £165,324.34). This loan is interest free and has no fixed date for repayment.

As at 30th November 2022, the company owed Mrs B Ismail (Director) £165,293.34 (2021: £165,324.34). This loan is interest free and has no fixed date for repayment.