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No description of principal activities is disclosed
2020-06-01
Sage Accounts Production 21.0 - FRS102_2019
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Company registration number:
04186064
Ampec Limited
Unaudited financial statements
31 May 2021
Ampec Limited
Contents
Directors and other information
Directors report
Accountants report
Statement of income and retained earnings
Statement of financial position
Notes to the financial statements
Ampec Limited
Directors and other information
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Directors
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S P Gallagher
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C P Gallagher
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Secretary
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C P Gallagher
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Company number
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04186064
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Registered office
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84 Turpin Green Lane
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Leyland
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PR25 3HP
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Business address
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84 Turpin Green Lane
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Leyland
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PR25 3HP
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Accountants
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Leach Briely
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Craven House
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32 Lee Lane
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Horwich
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Bolton
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BL6 7BY
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Bankers
|
Virgin Money
|
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44 Fishergate
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Preston
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PR1 8BH
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|
Ampec Limited
Directors report
Year ended 31 May 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2021.
Directors
The directors who served the company during the year were as follows:
|
S P Gallagher
|
C P Gallagher
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
23 February 2022
and signed on behalf of the board by:
C P Gallagher
Director
Ampec Limited
Accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Ampec Limited
Year ended 31 May 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ampec Limited for the year ended 31 May 2021 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com.
This report is made solely to the board of directors of Ampec Limited, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Ampec Limited and state those matters that we have agreed to state to the board of directors of Ampec Limited, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ampec Limited and its board of directors for our work or for this report.
It is your duty to ensure that Ampec Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ampec Limited. You consider that Ampec Limited 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 financial statements of Ampec Limited. 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 financial statements.
Leach Briely
Accountants
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY
23 February 2022
Ampec Limited
Statement of income and retained earnings
Year ended 31 May 2021
|
|
|
|
2021
|
|
2020
|
|
|
|
|
Note
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Turnover
|
|
|
|
221,778
|
|
187,456
|
|
|
Cost of sales
|
|
|
|
(
101,364)
|
|
(
84,165)
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
Gross profit
|
|
|
|
120,414
|
|
103,291
|
|
|
|
|
|
|
|
|
|
|
|
Administrative expenses
|
|
|
|
(
64,344)
|
|
(
63,477)
|
|
|
Other operating income
|
|
|
|
775
|
|
3,310
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
Operating profit
|
|
|
|
56,845
|
|
43,124
|
|
|
|
|
|
|
|
|
|
|
|
Interest payable and similar expenses
|
|
|
|
(
775)
|
|
-
|
|
|
Profit before taxation
|
|
5
|
|
56,070
|
|
43,124
|
|
|
|
|
|
|
|
|
|
|
|
Tax on profit
|
|
6
|
|
(
10,973)
|
|
(
8,248)
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
Profit for the financial year and total comprehensive income
|
|
|
|
45,097
|
|
34,876
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
Dividends declared and paid or payable during the year
|
|
|
|
(
45,000)
|
|
(
32,600)
|
|
|
|
|
|
|
|
|
|
|
|
Retained earnings at the start of the year
|
|
|
|
4,503
|
|
2,227
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
Retained earnings at the end of the year
|
|
|
|
4,600
|
|
4,503
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
Ampec Limited
Statement of financial position
31 May 2021
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
7
|
-
|
|
|
|
-
|
|
|
Tangible assets
|
|
8
|
12,164
|
|
|
|
3,614
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
12,164
|
|
|
|
3,614
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
1,450
|
|
|
|
1,450
|
|
|
Debtors
|
|
9
|
33,966
|
|
|
|
17,403
|
|
|
Cash at bank and in hand
|
|
|
24,659
|
|
|
|
30,119
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
60,075
|
|
|
|
48,972
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
10
|
(
40,104)
|
|
|
|
(
47,983)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
19,971
|
|
|
|
989
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
32,135
|
|
|
|
4,603
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
11
|
|
|
(
25,317)
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
12
|
|
|
(
2,118)
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
4,700
|
|
|
|
4,603
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
13
|
|
|
100
|
|
|
|
100
|
Profit and loss account
|
|
|
|
|
4,600
|
|
|
|
4,503
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
4,700
|
|
|
|
4,603
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year 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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the
board of directors
and authorised for issue on
23 February 2022
, and are signed on behalf of the board by:
S P Gallagher
Director
Company registration number:
04186064
Ampec Limited
Notes to the financial statements
Year ended 31 May 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 84 Turpin Green Lane, Leyland, PR25 3HP.
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 Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements
have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the total invoice value, excluding value added tax, of computer installation and maintenance services provided during the year.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the statement of income and retained
earnings. Current tax is recognised on taxable profit for the current period. Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initally recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery
|
-
|
20 %
|
reducing balance
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
Stocks
Stocks are measured at cost.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and
other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2020:
3
).
5.
Profit before taxation
Profit before taxation is stated after charging/(crediting):
|
|
|
|
2021
|
2020
|
|
|
|
|
£
|
£
|
|
Depreciation of tangible assets
|
|
|
1,749
|
1,185
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
6.
Tax on profit
Major components of tax expense
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Current tax:
|
|
|
|
|
UK current tax expense
|
|
8,855
|
8,248
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Deferred tax:
|
|
|
|
|
Origination and reversal of timing differences
|
|
2,118
|
-
|
|
|
|
_______
|
_______
|
|
Tax on profit
|
|
10,973
|
8,248
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 June 2020 and 31 May 2021
|
5,000
|
5,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 June 2020 and 31 May 2021
|
5,000
|
5,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 May 2021
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 May 2020
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
8.
Tangible assets
|
|
Plant and machinery
|
Motor vehicles
|
Total
|
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 June 2020
|
2,800
|
7,400
|
10,200
|
|
|
|
|
|
Additions
|
-
|
10,300
|
10,300
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 May 2021
|
2,800
|
17,700
|
20,500
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 June 2020
|
2,569
|
4,018
|
6,587
|
|
|
|
|
|
Charge for the year
|
46
|
1,703
|
1,749
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 May 2021
|
2,615
|
5,721
|
8,336
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 May 2021
|
185
|
11,979
|
12,164
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 May 2020
|
231
|
3,382
|
3,613
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.
Debtors
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
24,386
|
15,600
|
|
Other debtors
|
|
9,580
|
1,803
|
|
|
|
_______
|
_______
|
|
|
|
33,966
|
17,403
|
|
|
|
_______
|
_______
|
|
|
|
|
|
10.
Creditors: amounts falling due within one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
5,683
|
-
|
|
Trade creditors
|
|
9,709
|
10,410
|
|
Corporation tax
|
|
13,061
|
13,612
|
|
Social security and other taxes
|
|
10,224
|
10,997
|
|
Bank loan
|
|
1,427
|
12,964
|
|
|
|
_______
|
_______
|
|
|
|
40,104
|
47,983
|
|
|
|
_______
|
_______
|
|
|
|
|
|
11.
Creditors: amounts falling due after more than one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loan
|
|
25,317
|
-
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Included within creditors: amounts falling due after more than one year is an amount of £ 517
(2020 £ - ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
12.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Included in provisions (note 6)
|
|
2,118
|
-
|
|
|
|
_______
|
_______
|
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Accelerated capital allowances
|
|
7,994
|
-
|
|
|
|
_______
|
_______
|
|
|
|
|
|
13.
Called up share capital
Issued, called up and fully paid
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
|
No
|
|
£
|
|
No
|
|
£
|
|
Ordinary
shares of £
1.00 each
|
|
100
|
|
100
|
|
100
|
|
100
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|