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 ). |
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|
7 |
Ultimate controlling party |
|
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The parent company is AMS Holdings Limited, a company incorporated in British Virgin Island and there is no other controlling party. |
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|
8 |
Other information |
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AMS Corporate Services Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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66 High Street |
|
Stevenage |
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Hertfordshire |
|
SG1 3EA |