1 October 2017 false Taxfiler 2018.15.Web 09207617business:PrivateLimitedCompanyLtd2017-10-012018-09-30 092076172017-09-30 092076172017-10-012018-09-30 09207617business:AuditExemptWithAccountantsReport2017-10-012018-09-30 09207617business:FullAccounts2017-10-012018-09-30 092076172018-09-30 09207617business:Director12017-10-012018-09-30 09207617business:RegisteredOffice2017-10-012018-09-30 092076172017-09-30 09207617core:WithinOneYear2018-09-30 09207617core:WithinOneYear2017-09-30 09207617core:ShareCapital2018-09-30 09207617core:ShareCapital2017-09-30 09207617core:RetainedEarningsAccumulatedLosses2018-09-30 09207617core:RetainedEarningsAccumulatedLosses2017-09-30 09207617business:SmallEntities2017-10-012018-09-30 09207617countries:EnglandWales2017-10-012018-09-30 09207617core:ComputerEquipment2017-10-012018-09-30 09207617core:ComputerEquipment2017-09-30 09207617core:ComputerEquipment2018-09-30 09207617core:AcceleratedTaxDepreciationDeferredTax2018-09-30 09207617core:AcceleratedTaxDepreciationDeferredTax2017-09-30 092076172016-09-30 092076172016-10-012017-09-30 09207617business:OrdinaryShareClass12017-10-012018-09-30 09207617business:OrdinaryShareClass12016-10-012017-09-30 09207617core:BetweenOneFiveYears2018-09-30 09207617core:BetweenOneFiveYears2017-09-30 09207617business:Director112017-10-012018-09-30 09207617business:Director112017-09-30 09207617business:Director112018-09-30 iso4217:GBP xbrli:shares xbrli:pure
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
Page
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Project AMS Limited Company Information for the year ended 30 September 2018
Director
A Summers
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
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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
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Project AMS Limited Statement of financial position as at 30 September 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,262 
1,146 
Current assets
Inventories
1,440 
1,080 
Debtors
11,037 
7,123 
Cash at bank and in hand
2,699 
7,800 
15,176 
16,003 
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
Deferred tax
(240)
(218)
Net assets
663 
319 
Capital and reserves
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
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Project AMS Limited Notes to the Accounts for the year ended 30 September 2018
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
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Project AMS Limited Notes to the Accounts for the year ended 30 September 2018
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 October 2017
1,567 
Additions
958 
At 30 September 2018
2,525 
Depreciation
At 1 October 2017
421 
Charge for the year
842 
At 30 September 2018
1,263 
Net book value
At 30 September 2018
1,262 
At 30 September 2017
1,146 
5
Inventories
2018 
2017 
£ 
£ 
Work in progress
1,440 
1,080 
1,440 
1,080 
6
Debtors
2018 
2017 
£ 
£ 
Accrued income and prepayments
644 
690 
Other debtors
10,393 
6,433 
11,037 
7,123 
7
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Taxes and social security
14,626 
15,753 
Accruals
909 
859 
15,535 
16,612 
8
Deferred taxation
2018 
2017 
£ 
£ 
Accelerated capital allowances
240 
218 
2018 
2017 
£ 
£ 
Provision at start of year
218 
170 
Charged to the profit and loss account
22 
48 
Provision at end of year
240 
218 
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Project AMS Limited Notes to the Accounts for the year ended 30 September 2018
9
Share capital
2018 
2017 
£ 
£ 
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 one year
1,286 
- 
Within two to five years
- 
6,430 
1,286 
6,430 
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
A Summers
Interest free loan with no set date for repayment
6,332 
1,512 
- 
7,844 
6,332 
1,512 
- 
7,844 
12
Controlling party
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).
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