AMF (New Church RD) Limited Company Accounts

AMF (New Church RD) Limited Company Accounts

AMF (NEW CHURCH RD) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09257404
AMF (New Church RD) Limited
Unaudited Financial Statements
30 November 2016
WILSON SANDFORD LIMITED
Chartered accountant
85 Church Road
Hove
East Sussex
BN3 2BB
AMF (New Church RD) Limited
Financial Statements
Period from 1 April 2016 to 30 November 2016
Contents
Page
Statement of financial position
1
Statement of changes in equity
3
Notes to the financial statements
4
AMF (New Church RD) Limited
Statement of Financial Position
30 November 2016
30 Nov 16
31 Mar 16
Note
£
£
£
Current assets
Stocks
5
–
2,228,837
Debtors
6
24,879
8,506
Cash at bank and in hand
15,523
21,308
--------
------------
40,402
2,258,651
Creditors: amounts falling due within one year
7
39,402
998,389
--------
------------
Net current assets
1,000
1,260,262
-------
------------
Total assets less current liabilities
1,000
1,260,262
Creditors: amounts falling due after more than one year
8
–
1,273,373
-------
------------
Net assets/(liabilities)
1,000
( 13,111)
-------
------------
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss account
–
( 14,111)
-------
--------
Members funds/(deficit)
1,000
( 13,111)
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period ending 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AMF (New Church RD) Limited
Statement of Financial Position (continued)
30 November 2016
These financial statements were approved by the board of directors and authorised for issue on 22 February 2017 , and are signed on behalf of the board by:
J Anderson-Mann
Director
Company registration number: 09257404
AMF (New Church RD) Limited
Statement of Changes in Equity
Period from 1 April 2016 to 30 November 2016
Called up share capital
Profit and loss account
Total
£
£
£
At 9 October 2014
–
–
–
Loss for the period
( 14,111)
( 14,111)
----
--------
--------
Total comprehensive income for the period
–
( 14,111)
( 14,111)
Issue of shares
1,000
–
1,000
-------
--------
--------
Total investments by and distributions to owners
1,000
–
1,000
At 31 March 2016
1,000
( 14,111)
( 13,111)
Profit for the period
14,111
14,111
-------
--------
--------
Total comprehensive income for the period
–
14,111
14,111
-------
--------
--------
At 30 November 2016
1,000
–
1,000
-------
--------
--------
AMF (New Church RD) Limited
Notes to the Financial Statements
Period from 1 April 2016 to 30 November 2016
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 85 Church Road, Hove, East Sussex, BN3 2BB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors are satisfied that the company will remain able to meet its day to day working capital requirements. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would be necessary from an ability to meet liabilities from a deterioration in working capital.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 9 October 2014. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet.
4. Staff costs
The average number of persons employed by the company during the period, including the directors, amounted to Nil (2016: Nil).
5. Stocks
30 Nov 16
31 Mar 16
£
£
Work in progress
–
2,228,837
----
------------
6. Debtors
30 Nov 16
31 Mar 16
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
11,915
–
Other debtors
12,964
8,506
--------
-------
24,879
8,506
--------
-------
7. Creditors: amounts falling due within one year
30 Nov 16
31 Mar 16
£
£
Trade creditors
35,964
298,073
Other creditors
3,438
700,316
--------
---------
39,402
998,389
--------
---------
8. Creditors: amounts falling due after more than one year
30 Nov 16
31 Mar 16
£
£
Bank loans and overdrafts
–
1,273,373
----
------------
9. Called up share capital
Issued, called up and fully paid
30 Nov 16
31 Mar 16
No.
£
No.
£
Ordinary A shares of £ 1 each
500
500
500
500
Ordinary B shares of £ 1 each
500
500
500
500
-------
-------
-------
-------
1,000
1,000
1,000
1,000
-------
-------
-------
-------
10. Directors' advances, credits and guarantees
Guarantees have been given by the directors, J Anderson-Mann and D Frizell, in respect of bank borrowing up to £585,000. The bank borrowings have all been repaid in the period.
11. Related party transactions
Within debtors are balances of £nil (2015 - creditor £296,015) owed to Steeple Construction Limited and £11,915 (2015 - creditor £103,992) owed to AMF Property Investment Limited. Both are companies in which J Anderson-Mann and D Frizzell are both directors and shareholders. Trade creditors also includes £31,015 (2015 - £nil) owed to Steeple Construction Limited. Also within creditors is a balance of £1,794 owed to J Anderson-Mann. These accounts include loan interest of £48,483 (2015 - £nil) and share of joint venture distributions of £105,294 (2015 - £nil) payable to AMF Property Investment Limited.
12. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 9 October 2014.
No transitional adjustments were required in equity or profit or loss for the period.