Company Registration No. 09207617 (England and Wales)
Project AMS Limited
Unaudited accounts
for the year ended 30 September 2023
Project AMS Limited
Unaudited accounts
Contents
Project AMS Limited
Company Information
for the year ended 30 September 2023
Company Number
09207617 (England and Wales)
Registered Office
51 Wilmslow Road
Cheadle
Stockport
Cheshire
SK8 1HG
England
Accountants
SJM Accounting Services
51 Wilmslow Road
Cheadle
Stockport
Cheshire
SK8 1HG
Project AMS Limited
Accountants' report
Accountants' report to the director of Project AMS Limited (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 September 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 30 September 2023. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
SJM Accounting Services
51 Wilmslow Road
Cheadle
Stockport
Cheshire
SK8 1HG
21 November 2023
Project AMS Limited
Statement of financial position
as at 30 September 2023
Tangible assets
29,082
786
Cash at bank and in hand
102,926
76,840
Creditors: amounts falling due within one year
(22,465)
(29,258)
Net current assets
100,107
54,447
Total assets less current liabilities
129,189
55,233
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
123,084
54,984
Shareholders' funds
123,184
55,084
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 November 2023 and were signed on its behalf by
A Summers
Director
Company Registration No. 09207617
Project AMS Limited
Notes to the Accounts
for the year ended 30 September 2023
Project AMS Limited is a private company, limited by shares, registered in England and Wales, registration number 09207617. The registered office is 51 Wilmslow Road, Cheadle, Stockport, Cheshire, SK8 1HG, England. The principal place of business is 5 Well Brae , Portlethen , Aberdeen, AB12 4WX, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling which is the functional currency of the company.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
33% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Project AMS Limited
Notes to the Accounts
for the year ended 30 September 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2022
-
6,564
6,564
Additions
37,990
882
38,872
At 30 September 2023
37,990
7,446
45,436
At 1 October 2022
-
5,778
5,778
Charge for the year
9,497
1,079
10,576
At 30 September 2023
9,497
6,857
16,354
At 30 September 2023
28,493
589
29,082
At 30 September 2022
-
786
786
Amounts falling due within one year
Accrued income and prepayments
19,646
6,865
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
18,626
17,495
Loans from directors
115
2,932
7
Deferred taxation
2023
2022
Accelerated capital allowances
6,005
149
Provision at start of year
149
322
Charged/(credited) to the profit and loss account
5,856
(173)
Provision at end of year
6,005
149
Allotted, called up and fully paid:
10 Ordinary shares of £10 each
100
100
Project AMS Limited
Notes to the Accounts
for the year ended 30 September 2023
9
Operating lease commitments
2023
2022
At 30 September 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
1,347
The company is under the control of A Summers by virtue of his interest in the issued share capital of the company.
11
Average number of employees
During the year the average number of employees was 1 (2022: 2).