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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
Page
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Project AMS Limited Company Information for the year ended 30 September 2023
Director
A Summers
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
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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
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Project AMS Limited Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
29,082 
786 
Current assets
Debtors
19,646 
6,865 
Cash at bank and in hand
102,926 
76,840 
122,572 
83,705 
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
Deferred tax
(6,005)
(149)
Net assets
123,184 
55,084 
Capital and reserves
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
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Project AMS Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling which is the functional currency of the company.
Turnover
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 taxation
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.
Leased assets
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.
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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 
Depreciation
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 
Net book value
At 30 September 2023
28,493 
589 
29,082 
At 30 September 2022
- 
786 
786 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
19,646 
6,865 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
2,686 
6,797 
Taxes and social security
18,626 
17,495 
Other creditors
- 
1,070 
Loans from directors
115 
2,932 
Accruals
1,038 
964 
22,465 
29,258 
7
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
6,005 
149 
2023 
2022 
£ 
£ 
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 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £10 each
100 
100 
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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 
10
Controlling party
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).
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