11
31/03/2022
2022-03-31
false
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No description of principal activities is disclosed
2021-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
06636207
2021-04-01
2022-03-31
06636207
2022-03-31
06636207
2021-03-31
06636207
2020-04-01
2021-03-31
06636207
2021-03-31
06636207
2020-03-31
06636207
core:PlantMachinery
2021-04-01
2022-03-31
06636207
core:FurnitureFittingsToolsEquipment
2021-04-01
2022-03-31
06636207
core:MotorVehicles
2021-04-01
2022-03-31
06636207
bus:RegisteredOffice
2021-04-01
2022-03-31
06636207
bus:LeadAgentIfApplicable
2021-04-01
2022-03-31
06636207
bus:Director1
2021-04-01
2022-03-31
06636207
bus:Director2
2021-04-01
2022-03-31
06636207
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-03-31
06636207
core:PlantMachinery
2021-03-31
06636207
core:FurnitureFittingsToolsEquipment
2021-03-31
06636207
core:MotorVehicles
2021-03-31
06636207
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-03-31
06636207
core:PlantMachinery
2022-03-31
06636207
core:FurnitureFittingsToolsEquipment
2022-03-31
06636207
core:MotorVehicles
2022-03-31
06636207
core:WithinOneYear
2022-03-31
06636207
core:WithinOneYear
2021-03-31
06636207
core:AfterOneYear
2022-03-31
06636207
core:AfterOneYear
2021-03-31
06636207
core:ShareCapital
2022-03-31
06636207
core:ShareCapital
2021-03-31
06636207
core:RetainedEarningsAccumulatedLosses
2022-03-31
06636207
core:RetainedEarningsAccumulatedLosses
2021-03-31
06636207
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-03-31
06636207
core:PlantMachinery
2021-03-31
06636207
core:FurnitureFittingsToolsEquipment
2021-03-31
06636207
core:MotorVehicles
2021-03-31
06636207
bus:Director1
2021-03-31
06636207
bus:Director1
2022-03-31
06636207
bus:Director2
2021-03-31
06636207
bus:Director2
2022-03-31
06636207
bus:Director1
2020-03-31
06636207
bus:Director1
2021-03-31
06636207
bus:Director2
2020-03-31
06636207
bus:Director2
2021-03-31
06636207
bus:Director1
2020-04-01
2021-03-31
06636207
bus:Director2
2020-04-01
2021-03-31
06636207
bus:SmallEntities
2021-04-01
2022-03-31
06636207
bus:AuditExemptWithAccountantsReport
2021-04-01
2022-03-31
06636207
bus:FullAccounts
2021-04-01
2022-03-31
06636207
bus:SmallCompaniesRegimeForAccounts
2021-04-01
2022-03-31
06636207
bus:PrivateLimitedCompanyLtd
2021-04-01
2022-03-31
06636207
core:WithinOneYear
2021-04-01
2022-03-31
06636207
core:AfterOneYear
2021-04-01
2022-03-31
Company registration number:
06636207
AMP Construction & Groundworks Limited
Unaudited filleted financial statements
31 March 2022
AMP Construction & Groundworks Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
AMP Construction & Groundworks Limited
Directors and other information
|
|
|
|
Directors
|
Mr G Parry
|
|
|
Mr A Parry
|
|
|
|
|
|
|
|
Company number
|
06636207
|
|
|
|
|
|
|
|
Registered office
|
Mona Industrial Park
|
|
|
Gwalchmai
|
|
|
Anglesey
|
|
|
LL65 4RJ
|
|
|
|
|
|
|
|
Business address
|
Mona Industrial Park
|
|
|
Gwalchmai
|
|
|
Anglesey
|
|
|
LL65 4RJ
|
|
|
|
|
|
|
|
Accountants
|
Parker, O'Regan, Tann & Co
|
|
|
Bangor Business Centre
|
|
|
2 Farrar Road
|
|
|
Bangor
|
|
|
Gwynedd
|
|
|
LL57 1LJ
|
|
|
|
AMP Construction & Groundworks Limited
Chartered Certified accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of AMP Construction & Groundworks Limited
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AMP Construction & Groundworks Limited for the year ended 31 March 2022 as set out on pages 3 to 10 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 AMP Construction & Groundworks Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of AMP Construction & Groundworks Limited and state those matters that we have agreed to state to the board of directors of AMP Construction & Groundworks Limited as a body, 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 AMP Construction & Groundworks Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that AMP Construction & Groundworks 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 AMP Construction & Groundworks Limited. You consider that AMP Construction & Groundworks 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 AMP Construction & Groundworks 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.
Parker, O'Regan, Tann & Co
Chartered Certified Accountants
Bangor Business Centre
2 Farrar Road
Bangor
Gwynedd
LL57 1LJ
24 August 2022
AMP Construction & Groundworks Limited
Statement of financial position
31 March 2022
|
|
|
2022
|
|
|
|
2021
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
5
|
643,359
|
|
|
|
607,600
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
643,359
|
|
|
|
607,600
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
1,340,670
|
|
|
|
1,923,175
|
|
|
Debtors
|
|
6
|
315,020
|
|
|
|
107,923
|
|
|
Cash at bank and in hand
|
|
|
550,984
|
|
|
|
760,205
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
2,206,674
|
|
|
|
2,791,303
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
7
|
(
518,375)
|
|
|
|
(
496,151)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
1,688,299
|
|
|
|
2,295,152
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
2,331,658
|
|
|
|
2,902,752
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
8
|
|
|
(
252,968)
|
|
|
|
(
1,316,629)
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
69,638)
|
|
|
|
(
62,509)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
2,009,052
|
|
|
|
1,523,614
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
2
|
|
|
|
2
|
Profit and loss account
|
|
|
|
|
2,009,050
|
|
|
|
1,523,612
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
2,009,052
|
|
|
|
1,523,614
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2022 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 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 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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
24 August 2022
, and are signed on behalf of the board by:
Mr G Parry
Director
Company registration number:
06636207
AMP Construction & Groundworks Limited
Notes to the financial statements
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mona Industrial Park, Gwalchmai, Anglesey, LL65 4RJ.
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.
Going concern
The directors have considered impact with regards to COVID-19 as part of their going concern assessment. The view of the directors is that, while they acknowledge the significant disruption that the pandemic has had, and will continue to bring over the coming weeks and months, the company is well placed and has adequate resources to negotiate the unique set of conditions currently facing the UK economy. After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover represents the provision of civil engineering, general construction and sale of residential housing and land excluding value added tax and is net of trade discounts.Turnover from civil engineering and general construction is recognised based on the company's estimated valuation of work completed less provisions for additional work required in the retention period. Turnover from the sale of residential housing and land are recognised on legal completion.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially 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:
|
|
|
|
|
|
Freehold property
|
-
|
Nil
|
|
|
Plant and machinery
|
-
|
12.5 %
|
straight line
|
|
Fittings fixtures and equipment
|
-
|
12.5 %
|
straight line
|
|
Motor vehicles
|
-
|
25 %
|
straight line
|
|
|
|
|
|
No depreciation has been provided for on the land and property. An assessment of the net realisable value of the property at historic cost has been undertaken. On the basis that the property will be well maintained and such repair cost will be charged to the income statement, it is the view of the directors that the net realisable value equates to cost. On the basis of the above, no charge is necessary as it would be immaterial.Since no depreciation is charged on freehold property this is not in accordance with the Companies Act 2006 and FRS 102.If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and realisable value. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.Work in progress is made up of directly attributable costs such as materials, labour and sub-contract work.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, 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. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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
11
(2021:
11
).
5.
Tangible assets
|
|
Freehold property
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
£
|
£
|
£
|
£
|
£
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 April 2021
|
154,853
|
643,698
|
11,662
|
226,875
|
1,037,088
|
|
|
|
Additions
|
-
|
144,461
|
-
|
128,244
|
272,705
|
|
|
|
Disposals
|
-
|
(
68,000)
|
-
|
(
118,171)
|
(
186,171)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 March 2022
|
154,853
|
720,159
|
11,662
|
236,948
|
1,123,622
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 April 2021
|
-
|
331,536
|
7,378
|
90,574
|
429,488
|
|
|
|
Charge for the year
|
-
|
76,533
|
876
|
54,461
|
131,870
|
|
|
|
Disposals
|
-
|
(
42,500)
|
-
|
(
38,595)
|
(
81,095)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 March 2022
|
-
|
365,569
|
8,254
|
106,440
|
480,263
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 March 2022
|
154,853
|
354,590
|
3,408
|
130,508
|
643,359
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 March 2021
|
154,853
|
312,162
|
4,284
|
136,301
|
607,600
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
187,467
|
40,252
|
|
Other debtors
|
|
127,553
|
67,671
|
|
|
|
_______
|
_______
|
|
|
|
315,020
|
107,923
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
6,628
|
40,376
|
|
Trade creditors
|
|
268,375
|
232,874
|
|
Corporation tax
|
|
129,961
|
104,576
|
|
Social security and other taxes
|
|
9,293
|
9,289
|
|
Other creditors
|
|
104,118
|
109,036
|
|
|
|
_______
|
_______
|
|
|
|
518,375
|
496,151
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Bank loans and overdrafts are secured on the freehold property. Other loans are secured over the company's assets.Included in other creditors are amounts owed under hire purchase and finance lease contracts secured on the assets concerned. The amount owed under one year on hire purchase and finance lease contracts as at 31 March 2022 amounted to £67,621 (2021 - £58,374).
8.
Creditors: amounts falling due after more than one year
|
|
|
2022
|
2021
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
53,382
|
1,130,426
|
|
Other creditors
|
|
199,586
|
186,203
|
|
|
|
_______
|
_______
|
|
|
|
252,968
|
1,316,629
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Bank loans and overdrafts are secured on the freehold property. Other loans are secured over the company's assets. Included in other creditors are amounts owed under hire purchase and finance lease contracts secured on the assets concerned. The amount owed after one year on hire purchase and finance lease contracts amounted to £199,586 as at 31 March 2022 (2021 - £186,203).
Included within creditors: amounts falling due after more than one year is an amount of £ 26,110
(2021 £ 36,669 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The amount due for payment after more than five years has been calculated using an average interest rate of 5.4% over the total term length of 15 years.
9.
Other financial commitments
At 31 March 2022, the company had total commitments under non-cancellable contract hire over the remaining life of those contracts of £6,664 (2021 - £11,107).
10.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2022
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Mr G Parry
|
(
5,982)
|
-
|
(
13)
|
(
5,995)
|
|
|
|
Mr A Parry
|
(
6,166)
|
-
|
(
13)
|
(
6,179)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
(
12,148)
|
-
|
(
26)
|
(
12,174)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
2021
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Mr G Parry
|
3,991
|
27
|
(
10,000)
|
(
5,982)
|
|
|
|
Mr A Parry
|
3,834
|
-
|
(
10,000)
|
(
6,166)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
7,825
|
27
|
(
20,000)
|
(
12,148)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|