Company Registration No. 09207617 (England and Wales)
Project AMS Limited
Unaudited accounts
for the year ended 30 September 2018
Project AMS Limited
Unaudited accounts
Contents
Project AMS Limited
Company Information
for the year ended 30 September 2018
Company Number
09207617 (England and Wales)
Registered Office
51 Wilmslow Road
Cheadle
Stockport
Cheshire
SK8 1HG
England
Accountants
SJM Accounting Services
51 Wilmslow Road
Cheadle
Stockport
Cheshire
SK8 1HG
Project AMS Limited
Accountants' report
Accountants' report to the director of Project AMS Limited on the preparation of the unaudited statutory accounts for the year ended 30 September 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Project AMS Limited for the year ended
30 September 2018 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Project AMS Limited, as a body, in accordance with the terms of our engagement letter dated 1 February 2017. Our work has been undertaken solely to prepare for your approval the accounts of Project AMS Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Project AMS Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Project AMS Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Project AMS Limited. You consider that Project AMS 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 accounts of Project AMS 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 accounts.
SJM Accounting Services
51 Wilmslow Road
Cheadle
Stockport
Cheshire
SK8 1HG
10 November 2018
Project AMS Limited
Statement of financial position
as at 30 September 2018
Tangible assets
1,262
1,146
Cash at bank and in hand
2,699
7,800
Creditors: amounts falling due within one year
(15,535)
(16,612)
Net current liabilities
(359)
(609)
Total assets less current liabilities
903
537
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
563
219
Shareholders' funds
663
319
For the year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 11 November 2018.
A Summers
Director
Company Registration No. 09207617
Project AMS Limited
Notes to the Accounts
for the year ended 30 September 2018
Project AMS Limited is a private company, limited by shares, registered in England and Wales, registration number 09207617. The registered office is 51 Wilmslow Road, Cheadle, Stockport, Cheshire, SK8 1HG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Project AMS Limited
Notes to the Accounts
for the year ended 30 September 2018
4
Tangible fixed assets
Computer equipment
At 30 September 2018
2,525
At 30 September 2018
1,263
At 30 September 2018
1,262
At 30 September 2017
1,146
Work in progress
1,440
1,080
Accrued income and prepayments
644
690
Other debtors
10,393
6,433
7
Creditors: amounts falling due within one year
2018
2017
Taxes and social security
14,626
15,753
8
Deferred taxation
2018
2017
Accelerated capital allowances
240
218
Provision at start of year
218
170
Charged to the profit and loss account
22
48
Provision at end of year
240
218
Project AMS Limited
Notes to the Accounts
for the year ended 30 September 2018
Allotted, called up and fully paid:
10 Ordinary shares of £10 each
100
100
10
Operating lease commitments
2018
2017
At 30 September 2018 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
-
6,430
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan with no set date for repayment
6,332
1,512
-
7,844
The company is under the control of A Summers by virtue of his interest in the issued share capital of the company.
13
Average number of employees
During the year the average number of employees was 2 (2017: 2).