Registered number
07872562
AMS Corporate Services Limited
Filleted Accounts
31 December 2017
AMS Corporate Services Limited
Registered number: 03740372
Balance Sheet
as at 31 December 2017
Notes 2017 2016
£ £
Current assets
Debtors 4 126,652 30,222
Cash at bank 23,479 20,697
150,131 50,919
Creditors: amounts falling due within one year 5 (391,759) (280,692)
Net current liabilities (241,628) (229,773)
Net liabilities (241,628) (229,773)
Capital and reserves
Called up share capital 2 2
Profit and loss account (241,630) (229,775)
Shareholder's funds (241,628) (229,773)
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 member has 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Musadiq Jaffer
Director
Approved by the board on 15 August 2018
AMS Corporate Services Limited
Notes to the Accounts
for the year ended 31 December 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight Line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Going Concern
The financial statements have been prepared on a going concern basis notwithstanding the deficit shown on the Balance Sheet on the grounds that the holding company, AMS Holdings Limited, has confirmed that it is willing to support the company without seeking repayment of its loan until the company returns to profitability.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2017 48,059
At 31 December 2017 48,059
Depreciation
At 1 January 2017 48,059
At 31 December 2017 48,059
Net book value
At 31 December 2017 -
4 Debtors 2017 2016
£ £
Trade debtors 123,118 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 25,171
Other debtors 3,534 5,051
126,652 30,222
5 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 1,230 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 385,505 279,443
Other taxes and social security costs 3,235 -
Other creditors 1,789 1,249
391,759 280,692
6 Related party transactions
At 31 December 2017, the amount owed to AMS Holdings Limited by the company amounted to £385,505 (2016: £279,443 ).
7 Ultimate controlling party
The parent company is AMS Holdings Limited, a company incorporated in British Virgin Island and there is no other controlling party.
8 Other information
AMS Corporate Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
66 High Street
Stevenage
Hertfordshire
SG1 3EA
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