Company Registration No. 06265203 (England and Wales)
AAMM (LONDON) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019
PAGES FOR FILING WITH REGISTRAR
AAMM (LONDON) LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4
AAMM (LONDON) LTD
BALANCE SHEET
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Cash at bank and in hand
2,285
2,285
Creditors: amounts falling due within one year
3
(177,677)
(176,477)
Net current liabilities
(175,392)
(174,192)
Capital and reserves
Called up share capital
4
5
5
Profit and loss reserves
(175,397)
(174,197)
Total equity
(175,392)
(174,192)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 27 February 2020
B Lee
Director
Company Registration No. 06265203
AAMM (LONDON) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2019
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 June 2017
5
(174,197)
(174,192)
Year ended 31 May 2018:
Profit and total comprehensive income for the year
-
-
-
Balance at 31 May 2018
5
(174,197)
(174,192)
Year ended 31 May 2019:
Loss and total comprehensive income for the year
-
(1,200)
(1,200)
Balance at 31 May 2019
5
(175,397)
(175,392)
AAMM (LONDON) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019
- 3 -
1
Accounting policies
Company information
AAMM (London) Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old Vic, The Cut, London, SE1 8NB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director has stated his intention is to cease trading but no date has been set yet, therefore the financial statements have been prepared on a basis other than that of the going concern basis. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.
1.3
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
AAMM (LONDON) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2019
1
Accounting policies
(Continued)
- 4 -
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Taxation
No liability to UK corporation tax arose on ordinary activities for the year ended 31 May 2019 nor for the year ended 31 May 2018.
3
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
177,677
176,477
4
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
5 Ordinary of £1 each
5
5
5
Related party transactions
Included in other creditors at the year end is an aggregate amount of £171,521 (2018: £171,521) due to the shareholders.