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4 January 2022
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No description of principal activity
2020-05-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
04504282
2020-05-01
2021-04-30
04504282
2021-04-30
04504282
2020-04-30
04504282
2019-05-01
2020-04-30
04504282
2020-04-30
04504282
core:FurnitureFittings
2020-05-01
2021-04-30
04504282
bus:Director1
2020-05-01
2021-04-30
04504282
core:FurnitureFittings
2020-04-30
04504282
core:FurnitureFittings
2021-04-30
04504282
core:WithinOneYear
2021-04-30
04504282
core:WithinOneYear
2020-04-30
04504282
core:ShareCapital
2021-04-30
04504282
core:ShareCapital
2020-04-30
04504282
core:RetainedEarningsAccumulatedLosses
2021-04-30
04504282
core:RetainedEarningsAccumulatedLosses
2020-04-30
04504282
core:FurnitureFittings
2020-04-30
04504282
bus:SmallEntities
2020-05-01
2021-04-30
04504282
bus:Audited
2020-05-01
2021-04-30
04504282
bus:FullAccounts
2020-05-01
2021-04-30
04504282
bus:SmallCompaniesRegimeForAccounts
2020-05-01
2021-04-30
04504282
bus:PrivateLimitedCompanyLtd
2020-05-01
2021-04-30
04504282
core:ComputerEquipment
2020-05-01
2021-04-30
04504282
core:ComputerEquipment
2020-04-30
04504282
core:ComputerEquipment
2021-04-30
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 2021
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 2021
Fixed assets
Tangible assets
|
6
|
|
17,239
|
25,334
|
|
|
|
|
|
Current assets
Debtors
|
7
|
731,267
|
|
177,812
|
Cash at bank and in hand
|
132,149
|
|
116,991
|
|
----------
|
|
----------
|
|
863,416
|
|
294,803
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
629,369
|
|
334,335
|
|
----------
|
|
----------
|
Net current assets/(liabilities)
|
|
234,047
|
(
39,532)
|
|
|
----------
|
---------
|
Total assets less current liabilities
|
|
251,286
|
(
14,198)
|
|
|
----------
|
---------
|
Net assets/(liabilities)
|
|
251,286
|
(
14,198)
|
|
|
----------
|
---------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
100
|
100
|
Profit and loss account
|
|
251,186
|
(
14,298)
|
|
|
----------
|
---------
|
Shareholders funds/(deficit)
|
|
251,286
|
(
14,198)
|
|
|
----------
|
---------
|
|
|
|
|
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 Section 1A of 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
4 January 2022
, 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 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 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.
Going concern
The director has considered the ongoing impact of COVID-19 in relation to his assessment of going concern and in his opinion has taken all reasonable steps to mitigate these factors. This includes giving further consideration to their projections under the 3-year business plan to take into account the potential scenarios that may arise as a result of COVID-19. As at the point of authorising the accounts, and for the foreseeable future, the director considers the going concern assumption to still be appropriate. The director acknowledges that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the director to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.
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) Disclosures 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.
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:
|
Fixtures and fittings
|
-
|
25% straight line
|
|
Equipment
|
-
|
25% straight line
|
|
|
|
|
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.
Government grants
Government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. 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.
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
20
(2020:
19
).
5.
Taxation on ordinary activities
Major components of tax income
Deferred tax:
Origination and reversal of timing differences
|
–
|
(
7,721)
|
|
----
|
-------
|
Taxation on ordinary activities
|
–
|
(
7,721)
|
|
----
|
-------
|
|
|
|
Reconciliation of tax income
The tax assessed on the profit/(loss) on ordinary activities for the year is lower than (2020: higher than) the
standard rate of corporation tax in the UK
of
19
% (2020:
19
%).
|
2021
|
2020
|
|
£
|
£
|
Profit/(loss) on ordinary activities before taxation
|
265,484
|
(
130,013)
|
|
----------
|
----------
|
Profit/(loss) on ordinary activities by rate of tax
|
50,442
|
(
24,702)
|
Effect of expenses not deductible for tax purposes
|
1,562
|
216
|
Effect of capital allowances and depreciation
|
434
|
(
7,841)
|
Group loss relief
|
(
52,438)
|
24,606
|
|
----------
|
----------
|
Tax on profit/(loss)
|
–
|
(
7,721)
|
|
----------
|
----------
|
|
|
|
6.
Tangible assets
|
Fixtures and fittings
|
Equipment
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 May 2020
|
26,267
|
49,391
|
75,658
|
Additions
|
–
|
1,254
|
1,254
|
Disposals
|
–
|
(
20,000)
|
(
20,000)
|
|
---------
|
---------
|
---------
|
At 30 April 2021
|
26,267
|
30,645
|
56,912
|
|
---------
|
---------
|
---------
|
Depreciation
|
|
|
|
At 1 May 2020
|
7,367
|
42,957
|
50,324
|
Charge for the year
|
6,300
|
3,049
|
9,349
|
Disposals
|
–
|
(
20,000)
|
(
20,000)
|
|
---------
|
---------
|
---------
|
At 30 April 2021
|
13,667
|
26,006
|
39,673
|
|
---------
|
---------
|
---------
|
Carrying amount
|
|
|
|
At 30 April 2021
|
12,600
|
4,639
|
17,239
|
|
---------
|
---------
|
---------
|
At 30 April 2020
|
18,900
|
6,434
|
25,334
|
|
---------
|
---------
|
---------
|
|
|
|
|
7.
Debtors
|
2021
|
2020
|
|
£
|
£
|
Trade debtors
|
93,905
|
100,607
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
579,971
|
2,633
|
Other debtors
|
57,391
|
74,572
|
|
----------
|
----------
|
|
731,267
|
177,812
|
|
----------
|
----------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2021
|
2020
|
|
£
|
£
|
Trade creditors
|
34,866
|
22,457
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
494,646
|
163,946
|
Social security and other taxes
|
83,469
|
91,432
|
Other creditors
|
16,388
|
56,500
|
|
----------
|
----------
|
|
629,369
|
334,335
|
|
----------
|
----------
|
|
|
|
9.
Summary audit opinion
The auditor's report for the year dated
4 January 2022
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
There are no matters requiring disclosure.
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.