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Registration number: 08828281

Amtech Business Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Amtech Business Solutions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Amtech Business Solutions Limited

Company Information

Director

Mr David Melin

Registered office

Oxford House
12 -20 Oxford Street
Newbury
Berkshire
RG14 1JB

Accountants

WoodWhite Accountants Ltd
Chartered Accountants
Unit 4 City Limits
Danehill
Reading
Berkshire
RG6 4UP

 

Amtech Business Solutions Limited

(Registration number: 08828281)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

9,657

8,718

Current assets

 

Debtors

5

402,183

344,054

Cash at bank and in hand

 

29,659

97,474

 

431,842

441,528

Creditors: Amounts falling due within one year

6

(441,248)

(435,806)

Net current (liabilities)/assets

 

(9,406)

5,722

Total assets less current liabilities

 

251

14,440

Creditors: Amounts falling due after more than one year

6

-

(40,833)

Net assets/(liabilities)

 

251

(26,393)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

151

(26,493)

Shareholders' funds/(deficit)

 

251

(26,393)

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Amtech Business Solutions Limited

(Registration number: 08828281)
Balance Sheet as at 31 March 2022

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 12 September 2022
 

.........................................
Mr David Melin
Director

 

Amtech Business Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Oxford House
12 -20 Oxford Street
Newbury
Berkshire
RG14 1JB

These financial statements were authorised for issue by the director on 12 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Amtech Business Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

20% straight line

Office equipment

50% straight line

Furniture, fittings, tools and equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Amtech Business Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2021 - 4).

 

Amtech Business Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2021

15,239

24,747

39,986

Additions

-

6,789

6,789

At 31 March 2022

15,239

31,536

46,775

Depreciation

At 1 April 2021

9,397

21,870

31,267

Charge for the year

3,048

2,803

5,851

At 31 March 2022

12,445

24,673

37,118

Carrying amount

At 31 March 2022

2,794

6,863

9,657

At 31 March 2021

5,841

2,877

8,718

Included within the net book value of land and buildings above is £2,794 (2021 - £5,841) in respect of long leasehold land and buildings.
 

5

Debtors

Current

Note

2022
£

2021
£

Trade debtors

 

132,672

56,538

Amounts owed by related parties

8

65,000

-

Prepayments

 

174,872

249,095

Other debtors

 

29,639

38,421

   

402,183

344,054

 

Amtech Business Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

7

-

9,167

Trade creditors

 

60,577

31,006

Taxation and social security

 

32,833

59,123

Accruals and deferred income

 

347,838

336,495

Other creditors

 

-

15

 

441,248

435,806

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

7

-

40,833

7

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

-

40,833

2022
£

2021
£

Current loans and borrowings

Bank borrowings

-

9,167

 

Amtech Business Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

8

Related party transactions

Unsecured, repayable on demand and interest charged at HMRC's official rate.

Transactions with the director

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Director's Loan

36,760

29,639

(36,760)

29,639

         
       

 

2021

At 1 April 2020
£

Advances to director
£

At 31 March 2021
£

Director's Loan

-

36,760

36,760