REGISTERED NUMBER: |
AMSYS LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 |
REGISTERED NUMBER: |
AMSYS LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 |
AMSYS LIMITED (REGISTERED NUMBER: 02052274) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
Page |
Company information | 1 |
Statement of financial position | 2 |
Notes to the financial statements | 3 | to | 7 |
AMSYS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Chartered Accountants and Statutory Auditors |
Richmond House |
Walkern Road |
Stevenage |
Hertfordshire |
SG1 3QP |
AMSYS LIMITED (REGISTERED NUMBER: 02052274) |
STATEMENT OF FINANCIAL POSITION |
31ST DECEMBER 2021 |
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Inventories |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
AMSYS LIMITED (REGISTERED NUMBER: 02052274) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Amsys Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have prepared budgets and forecasts for a period of 12 months from the date of these financial statements. The forecasts indicate that the company will continue to operate with the parameters of existing facilities. Furthermore, the directors expect the company to return to profitability in the coming years, consequently strengthening the balance sheet. |
On this assertion the financial statements have been prepared on a going concern basis. |
Significant judgements and estimates |
No significant judgements or estimates have had to be made by the directors in preparing these financial statements. |
Revenue |
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other taxes of sales made during the year. |
Revenue recognition |
Revenue is measured at fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the company and value added taxes. |
The company provides repair services of micro-computers and related peripheral products to corporate entities. Revenue is recognised in the accounting period in which the services are rendered when the outcome of the contract has been concluded. Contract income invoiced in advance is recognised in equal monthly instalments over the duration of the contact. |
AMSYS LIMITED (REGISTERED NUMBER: 02052274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
3. | ACCOUNTING POLICIES - continued |
Property, plant and equipment |
Land and buildings | - |
Plant and machinery etc | - |
Stocks and work in progress |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Contracts are assessed on a contract basis and are reflected in the income statement by recording revenue and related costs as contract activity progresses. Where the outcome of each contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the income statement as the difference between the reported revenue and the related costs for that contract. |
Amounts recoverable on contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account. |
Tax |
Tax for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred tax assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease. |
AMSYS LIMITED (REGISTERED NUMBER: 02052274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
3. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate. |
Exceptional items |
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost |
At 1st January 2021 |
Additions |
At 31st December 2021 |
Depreciation |
At 1st January 2021 |
Charge for year |
At 31st December 2021 |
Net book value |
At 31st December 2021 |
At 31st December 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on contract |
Other debtors |
AMSYS LIMITED (REGISTERED NUMBER: 02052274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | - | 5,833 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
Other companies within the Amsys Technology Holdings Ltd group have entered into loan agreements with their bankers and with private lenders also. These borrowings are secured by a fixed and floating charge over the assets and property of Amsys Limited. |
AMSYS LIMITED (REGISTERED NUMBER: 02052274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Ordinary A | £1 | 50,000 | 50,000 |
50,100 | 50,100 |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the auditors was unqualified. |
for and on behalf of |
13. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
14. | PARENT RELATIONSHIPS |
The company is a wholly owned subsidiary of Amsys Technology Holdings Ltd, a company in incorporated in England and Wales at Bryon House, Lower Road, Kenley, Surrey, CR8 5NB. |
Amsys Technology Holdings Ltd prepares the smallest and largest group financial statements in which the results of the company are included. Copies of the group financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. |