Company registration number 03688365 (England and Wales)
AMC CONSULTANTS (UK) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes Audit Limited
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
AMC CONSULTANTS (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AMC CONSULTANTS (UK) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
19,955
13,363
Current assets
Debtors
4
2,067,376
1,409,532
Cash at bank and in hand
940,013
965,190
3,007,389
2,374,722
Creditors: amounts falling due within one year
5
(362,690)
(309,018)
Net current assets
2,644,699
2,065,704
Total assets less current liabilities
2,664,654
2,079,067
Provisions for liabilities
(2,107)
(2,107)
Net assets
2,662,547
2,076,960
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
2,662,546
2,076,959
Total equity
2,662,547
2,076,960

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 October 2023 and are signed on its behalf by:
R Hogarth
Director
Company registration number 03688365 (England and Wales)
AMC CONSULTANTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

AMC Consultants (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Sobell Rhodes LLP, The Kinetic Centre, Theobald Street, Elstree, Borehamwood, Hertfordshire, United Kingdom, WD6 4PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

1.2
Going concern

The financial statements are prepared on a going concern basis.

 

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In light of the aftermath of Covid-19 and conflict in Ukraine, there are no material uncertainties that require disclosure.

 

It is the directors' assessment that the company continues to be a going concern and that no material uncertainties exist as a result of going concern.

 

Accordingly, the assets and liabilities have been valued on the basis that the company will continue in business.

1.3
Turnover

Revenue from rendering of services is recognised in proportion to the stage of completion of the work performed at the reporting date. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

 

All revenue is stated net of the amount of value added tax.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33 1/3% straight line
1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

AMC CONSULTANTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

AMC CONSULTANTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 12 (2022 - 13). No remuneration has been paid to the directors, their costs being borne by other group companies and not recharged. This is because fair apportionment is not possible.

3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 July 2022
113,926
Additions
21,992
Disposals
(7,204)
At 30 June 2023
128,714
Depreciation and impairment
At 1 July 2022
100,563
Depreciation charged in the year
15,400
Eliminated in respect of disposals
(7,204)
At 30 June 2023
108,759
Carrying amount
At 30 June 2023
19,955
At 30 June 2022
13,363
4
Debtors
2023
2022
£
£
Trade debtors
844,642
511,173
Amounts owed by group undertakings
719,282
489,432
Other debtors
503,452
408,927
2,067,376
1,409,532
AMC CONSULTANTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
39,605
38,842
Corporation tax
135,226
88,305
Other taxation and social security
36,056
30,716
Other creditors
151,803
151,155
362,690
309,018
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Trusha Bhanderi FCCA
Statutory Auditor:
Sobell Rhodes Audit Limited
8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating lease of £17,184 (2022 - £16,944).

 

9
Related party transactions

The company has taken advantage of the exemption permitted by FRS 102 Section 33 Related Party Disclosures, not to provide disclosures of transactions entered into with other wholly owned members of the group.

10
Parent and Ultimate parent undertaking

The company's parent and ultimate parent is Ausmincon Holdings Limited, incorporated in Australia.

These financial statements are consolidated in Ausmincon Holdings Limited. The registered address is Level 12, 477 Collins Street, Melbourne, VIC, 3000, Australia.

2023-06-302022-07-01false06 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedR HogarthB S Gregory036883652022-07-012023-06-30036883652023-06-30036883652022-06-3003688365core:PlantMachinery2023-06-3003688365core:PlantMachinery2022-06-3003688365core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3003688365core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3003688365core:CurrentFinancialInstruments2023-06-3003688365core:CurrentFinancialInstruments2022-06-3003688365core:ShareCapital2023-06-3003688365core:ShareCapital2022-06-3003688365core:RetainedEarningsAccumulatedLosses2023-06-3003688365core:RetainedEarningsAccumulatedLosses2022-06-3003688365bus:Director12022-07-012023-06-3003688365core:PlantMachinery2022-07-012023-06-3003688365core:PlantMachinery2022-06-3003688365core:WithinOneYear2023-06-3003688365core:WithinOneYear2022-06-3003688365bus:PrivateLimitedCompanyLtd2022-07-012023-06-3003688365bus:SmallCompaniesRegimeForAccounts2022-07-012023-06-3003688365bus:FRS1022022-07-012023-06-3003688365bus:Audited2022-07-012023-06-3003688365bus:Director22022-07-012023-06-3003688365bus:FullAccounts2022-07-012023-06-30xbrli:purexbrli:sharesiso4217:GBP