false
false
false
false
false
false
false
false
false
true
false
false
true
true
true
true
true
No description of principal activity
2017-05-01
Sage Accounts Production Advanced 2018 Update 1 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
04504282
2017-05-01
2018-04-30
04504282
2018-04-30
04504282
2017-04-30
04504282
2016-05-01
2017-04-30
04504282
2017-04-30
04504282
core:LandBuildings
core:LongLeaseholdAssets
2017-05-01
2018-04-30
04504282
core:FurnitureFittings
2017-05-01
2018-04-30
04504282
bus:Director1
2017-05-01
2018-04-30
04504282
core:LandBuildings
2017-04-30
04504282
core:FurnitureFittings
2017-04-30
04504282
core:LandBuildings
2018-04-30
04504282
core:FurnitureFittings
2018-04-30
04504282
core:WithinOneYear
2018-04-30
04504282
core:WithinOneYear
2017-04-30
04504282
core:ShareCapital
2018-04-30
04504282
core:ShareCapital
2017-04-30
04504282
core:RetainedEarningsAccumulatedLosses
2018-04-30
04504282
core:RetainedEarningsAccumulatedLosses
2017-04-30
04504282
core:LandBuildings
2017-05-01
2018-04-30
04504282
core:LandBuildings
2017-04-30
04504282
bus:SmallEntities
2017-05-01
2018-04-30
04504282
bus:Audited
2017-05-01
2018-04-30
04504282
bus:FullAccounts
2017-05-01
2018-04-30
04504282
bus:SmallCompaniesRegimeForAccounts
2017-05-01
2018-04-30
04504282
bus:PrivateLimitedCompanyLtd
2017-05-01
2018-04-30
COMPANY REGISTRATION NUMBER:
04504282
AMT Contract Hire & Leasing Limited
|
|
Filleted Financial Statements
|
|
AMT Contract Hire & Leasing Limited
|
|
Director's Responsibilities Statement
|
|
Year ended 30 April 2018
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
AMT Contract Hire & Leasing Limited
|
|
Statement of Financial Position
|
|
30 April 2018
Fixed assets
Tangible assets
|
6
|
|
148,734
|
164,490
|
|
|
|
|
|
Current assets
Debtors
|
7
|
733,771
|
|
297,867
|
Cash at bank and in hand
|
8,852
|
|
30,756
|
|
----------
|
|
----------
|
|
742,623
|
|
328,623
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
786,910
|
|
403,438
|
|
----------
|
|
----------
|
Net current liabilities
|
|
44,287
|
74,815
|
|
|
----------
|
----------
|
Total assets less current liabilities
|
|
104,447
|
89,675
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
8,876
|
–
|
|
|
----------
|
---------
|
Net assets
|
|
95,571
|
89,675
|
|
|
----------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
95,471
|
89,575
|
|
|
---------
|
---------
|
Shareholders funds
|
|
95,571
|
89,675
|
|
|
---------
|
---------
|
|
|
|
|
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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
21 January 2019
, and are signed on behalf of the board by:
Company registration number:
04504282
AMT Contract Hire & Leasing Limited
|
|
Notes to the Financial Statements
|
|
Year ended 30 April 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is AMT House, 174 Armley Road, Leeds, West Yorkshire, LS12 2QH.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, '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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of AMT Global Investments Limited whose accounts are publicly available. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Dislosures in respect of related party transactions with fellow group companies have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover as shown in the profit and loss account comprises the administrative elements of contract hire and vehicle leasing agreements and is stated net of VAT.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Leasehold property improvements
|
-
|
5% straight line
|
|
Fixtures and fittings
|
-
|
25% straight line
|
|
Equipment
|
-
|
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Particulars of employees
The average number of persons employed by the company during the year amounted to
14
(2017:
19
).
5.
Taxation on ordinary activities
Major components of tax expense
Deferred tax:
Origination and reversal of timing differences
|
8,876
|
5,198
|
|
-------
|
-------
|
Taxation on ordinary activities
|
8,876
|
5,198
|
|
-------
|
-------
|
|
|
|
Reconciliation of tax expense
The tax assessed on the profit/(loss) on ordinary activities for the year is higher than (2017: higher than) the
standard rate of corporation tax in the UK
of
19
% (2017:
20
%).
|
2018
|
2017
|
|
£
|
£
|
Profit/(loss) on ordinary activities before taxation
|
14,772
|
(
96,105)
|
|
---------
|
---------
|
Profit/(loss) on ordinary activities by rate of tax
|
2,806
|
(
19,221)
|
Effect of expenses not deductible for tax purposes
|
567
|
–
|
Effect of capital allowances and depreciation
|
10,997
|
7,605
|
Group loss relief
|
|
|
|
---------
|
---------
|
Tax on profit/(loss)
|
8,876
|
5,198
|
|
---------
|
---------
|
|
|
|
6.
Tangible assets
|
Land and buildings
|
Fixtures and fittings
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
At 1 May 2017 and 30 April 2018
|
177,709
|
1,067
|
|
220,311
|
|
----------
|
-------
|
---------
|
----------
|
Depreciation
|
|
|
|
|
At 1 May 2017
|
26,656
|
1,067
|
|
55,821
|
Charge for the year
|
8,886
|
–
|
|
15,756
|
|
----------
|
-------
|
---------
|
----------
|
At 30 April 2018
|
35,542
|
1,067
|
|
71,577
|
|
----------
|
-------
|
---------
|
----------
|
Carrying amount
|
|
|
|
|
At 30 April 2018
|
142,167
|
–
|
|
148,734
|
|
----------
|
-------
|
---------
|
----------
|
At 30 April 2017
|
151,053
|
–
|
|
164,490
|
|
----------
|
-------
|
---------
|
----------
|
|
|
|
|
|
7.
Debtors
|
2018
|
2017
|
|
£
|
£
|
Trade debtors
|
498,228
|
215,222
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
168,901
|
66,699
|
Other debtors
|
66,642
|
15,946
|
|
----------
|
----------
|
|
733,771
|
297,867
|
|
----------
|
----------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2018
|
2017
|
|
£
|
£
|
Trade creditors
|
296,787
|
25,960
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
248,976
|
183,329
|
Social security and other taxes
|
|
|
Other creditors
|
199,072
|
139,119
|
|
----------
|
----------
|
|
786,910
|
403,438
|
|
----------
|
----------
|
|
|
|
9.
Summary audit opinion
The auditor's report for the year dated 21 January 2019 was unqualified.
The senior statutory auditor was
Ian Jonathan Grant BSc FCA CF
, for and on behalf of
Grants
.
10.
Director's advances, credits and guarantees
Included in other creditors is a loan from the director which is repayable on demand.
11.
Related party transactions
The company is party to a cross guarantee over the assets of the group as a whole as held by the group bankers.
12.
Controlling party
Throughout the current year the ultimate parent company has been considered to be AMT Global Investments Limited, a company registered in England and Wales. Throughout the current and previous year
Mr N McGawley
was considered to be the ultimate controlling party due to his sole directorship and shareholding in AMT Global Investments Limited.