| AMK Trading and Investment Ltd |
| Registered number: |
08711893 |
| Director's Report |
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| The director presents his report and accounts for the year ended 30 September 2015. |
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| Principal activities |
| The company's principal activity during the year was that of dealing in stocks and shares. |
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| Director |
| The following person served as director during the year: |
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|
Omar Ala Mahmoud Al Khawaja |
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| Director's responsibilities |
| The director is responsible for preparing the report and accounts in accordance with applicable law and regulations. |
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| Company law requires the director to prepare accounts for each financial year. Under that law the director has elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the director is required to: |
| ● |
select suitable accounting policies and then apply them consistently; |
| ● |
make judgements and estimates that are reasonable and prudent; |
| ● |
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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| 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 him to ensure that the accounts 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. |
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| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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| This report was approved by the board on 1 March 2016 and signed on its behalf. |
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| Omar Ala Mahmoud Al Khawaja |
| Director |
|
| AMK Trading and Investment Ltd |
| Balance Sheet |
| as at 30 September 2015 |
|
| Notes |
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|
2015 |
|
|
2014 |
| £ |
£ |
| Current assets |
| Cash at bank and in hand |
|
|
2,229 |
|
|
7,587 |
|
| Creditors: amounts falling due within one year |
2 |
|
(4,629) |
|
|
(1,800) |
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| Net current (liabilities)/assets |
|
|
|
(2,400) |
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|
5,787 |
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| Total assets less current liabilities |
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|
|
(2,400) |
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|
5,787 |
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| Creditors: amounts falling due after more than one year |
3 |
|
|
- |
|
|
(7,587) |
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|
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| Net liabilities |
|
|
|
(2,400) |
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|
(1,800) |
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|
|
|
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| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
|
|
100 |
| Profit and loss account |
5 |
|
|
(2,500) |
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|
(1,900) |
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| Shareholders' deficit |
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|
|
(2,400) |
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(1,800) |
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| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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| Omar Ala Mahmoud Al Khawaja |
| Director |
| Approved by the board on 1 March 2016 |
|
| AMK Trading and Investment Ltd |
| Notes to the Accounts |
| for the year ended 30 September 2015 |
|
| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Going concern |
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The company meets its day to day workings capital requirement through internal funding from its director and shareholder Omar Ala Mahmoud Al Khawaja |
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The director have indicated that it is resonable to rely on the continuation, into the foreseeable future, of financial support of its parent undertaking. On the basis of this information and the conduct of its financial affairs subsequent to the balance sheet date, the director consider it appropriate to prepare the financial statements on the going concern basis. |
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Turnover |
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The company did not procure any turnover during the year |
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
20% straight line |
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Motor vehicles |
25% straight line |
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Stocks |
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Stock is valued at the lower of cost and net realisable value. |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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Foreign currencies |
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Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
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Leasing and hire purchase commitments |
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Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
| 2 |
Creditors: amounts falling due within one year |
2015 |
|
2014 |
| £ |
£ |
|
|
Other creditors |
4,629 |
|
1,800 |
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|
| 3 |
Creditors: amounts falling due after one year |
2015 |
|
2014 |
| £ |
£ |
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Other creditors |
- |
|
7,587 |
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| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
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|
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|
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|
| 5 |
Profit and loss account |
2015 |
| £ |
|
|
At 1 October 2014 |
(1,900) |
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Loss for the year |
(600) |
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At 30 September 2015 |
(2,500) |
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| 6 |
Related party transactions |
2015 |
|
2014 |
| £ |
£ |
|
Omar Ala Mahmoud Al Khawaja |
|
The above individual is sole director and sole shareholder |
|
Amount due to the related party |
4,029 |
|
7,587 |
|
|
|
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|
| 7 |
Ultimate controlling party |
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The company is controlled by the sole director and sole shareholder Omar Ala Mahmoud Al Khawaja |
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| 8 |
Going Concern |
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During the year the company incurred loss of £600. As at the balance sheet date, the company has net liabilities of £2,400 which includes £4,029 due to the director and shareholder Omar Ala Mahmoud Al Khawaja. |
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The company has received an undertaking from Omar Ala Mahmoud Al Khawaja that he would not seek repayment of the funds until such time as the company has funds available for the purpose and it would financially support the company as and when required. |
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Accordingly the financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued financial support by the director/shareholder and company procuring profitable operations |
