AMM Wells Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC429557 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 July 2021

for

AMM Wells Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A McKay

REGISTERED OFFICE:

182 High Street

Montrose

ANGUS

DD10 8PH

REGISTERED NUMBER:

SC429557 (Scotland)

ACCOUNTANTS:

MMG Archbold Ltd

Chartered Accountants

182 High Street

Montrose

ANGUS

DD10 8PH

FIXED ASSETS

Tangible assets

4

157

210

CURRENT ASSETS

Debtors

5

299

-

Cash at bank

151,341

187,298

151,640

187,298

CREDITORS

Amounts falling due within one year

6

661

20,599

NET CURRENT ASSETS

150,979

166,699

TOTAL ASSETS LESS CURRENT LIABILITIES

151,136

166,909

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

151,135

166,908

SHAREHOLDERS' FUNDS

151,136

166,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 October 2021 and were signed by:

A McKay - Director

1.	STATUTORY INFORMATION

AMM Wells Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover and profit on ordinary activities before taxation are attributable to well services in the oil and gas industry.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Contracts for services

Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect the partial performance of our contractual obligations. The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2020

and 31 July 2021

542

DEPRECIATION

At 1 August 2020

332

Charge for year

53

At 31 July 2021

385

NET BOOK VALUE

At 31 July 2021

157

At 31 July 2020

210

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

299

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

-

19,278

Other creditors

661

1,321

661

20,599

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2021 and 31 July 2020:

2021

2020

£

£

A McKay

Balance outstanding at start of year

-

75

Amounts advanced

120

354

Amounts repaid

(120

)

(429

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A McKay.