Amc (Cricklewood) Ltd - Period Ending 2016-04-30

AMC (CRICKLEWOOD) LTD - Company Information

Registration number: 09018879

Amc (Cricklewood) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016

Chaplin Associates (Oxon) Ltd
Gates End
Fairmile
Henley-On-Thames
Oxfordshire
RG9 2JY

Amc (Cricklewood) Ltd

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2 to 3
Notes to the Abbreviated Accounts	4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Amc (Cricklewood) Ltd
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Amc (Cricklewood) Ltd for the year ended 30 April 2016 set out on pages XX from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Amc (Cricklewood) Ltd, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Amc (Cricklewood) Ltd and state those matters that we have agreed to state to them. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amc (Cricklewood) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Amc (Cricklewood) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Amc (Cricklewood) Ltd. You consider that Amc (Cricklewood) 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 accounts of Amc (Cricklewood) 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 accounts.

......................................

Chaplin Associates (Oxon) Ltd
Gates End
Fairmile
Henley-On-Thames
Oxfordshire
RG9 2JY

3 August 2016

Page 1

Amc (Cricklewood) Ltd

(Registration number: 09018879)
Abbreviated Balance Sheet as at 30 April 2016

	Note	30 April 2016 £	30 April 2015 £
Fixed assets
Intangible assets	2	560,000	560,000
Tangible assets	2	214,821	220,962
		774,821	780,962
Current assets
Stocks		25,199	36,933
Debtors		47,791	38,923
Cash at bank and in hand		148,018	55,511
		221,008	131,367
Prepayments and accrued income		1,304	348
Creditors: Amounts falling due within one year		(158,292)	(93,487)
Net current assets		64,020	38,228
Total assets less current liabilities		838,841	819,190
Creditors: Amounts falling due after more than one year		(636,274)	(651,672)
Provisions for liabilities		(42,964)	(12,462)
Accruals and deferred income		(5,470)	(7,300)
Net assets		154,133	147,756
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		154,033	147,656
Shareholders funds		154,133	147,756

For the year ending 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Amc (Cricklewood) Ltd

(Registration number: 09018879)
Abbreviated Balance Sheet as at 30 April 2016

Approved by the Board on 3 August 2016 and signed on its behalf by:

.........................................
Mr Philip John Chaplin
Company secretary and director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Amc (Cricklewood) Ltd

Notes to the Abbreviated Accounts

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015).

Exemption from preparing a cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Goodwill

As a departure from FRSSE 2015 Paragraph 6 the members have not amortised goodwill in these financial statements. This treatment is adopted on the basis of the true and fair override concept in the preparation of financial statements. Veterinary businesses tend to increase in value over time and amortisation of goodwill would be in conflict with this underlying commercial reality. The members will carry out a regular impairment review to confirm whether the current value of goodwill is at least equal to its carrying value. If not, the goodwill will be written down to the lower value determined in the impairment review.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on reducing balance
Fixtures and fittings	25% on reducing balance
Motor cars	25% on reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Page 4

Amc (Cricklewood) Ltd

Notes to the Abbreviated Accounts

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 May 2015	560,000	241,422	801,422
Additions	-	11,241	11,241
At 30 April 2016	560,000	252,663	812,663
Depreciation
At 1 May 2015	-	20,460	20,460
Charge for the year	-	17,382	17,382
At 30 April 2016	-	37,842	37,842
Net book value
At 30 April 2016	560,000	214,821	774,821
At 30 April 2015	560,000	220,962	780,962

Page 5

Amc (Cricklewood) Ltd

Notes to the Abbreviated Accounts

Share capital

Allotted, called up and fully paid shares

	30 April 2016		30 April 2015
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Related party transactions

AMC LondonIs a freehold owner receiving rentOwned 50% Dwynwen Palmer, 25% Philip Chaplin & 25% John Ball.All intercompany transactions are at arms length and are on a fully commercial basis.

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 6