Company Registration Number 01994895 (England and Wales)
APPLIED MICRO SCIENCES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
APPLIED MICRO SCIENCES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
APPLIED MICRO SCIENCES LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,352
30,482
Current assets
Debtors
249
Cash at bank and in hand
127,392
162,987
127,641
162,987
Creditors: amounts falling due within one year
4
(100,296)
(90,201)
Net current assets
27,345
72,786
Total assets less current liabilities
50,697
103,268
Provisions for liabilities
(4,437)
(49)
Net assets
46,260
103,219
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
46,160
103,119
Total equity
46,260
103,219
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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 26 March 2024 and are signed on its behalf by:
Mr KC Leong
Director
Company registration number 01994895 (England and Wales)
APPLIED MICRO SCIENCES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information
Applied Micro Sciences Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Billing Road, Northampton, Northamptonshire, UK, NN1 5AL.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
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:
Fixtures and fittings
15% on reducing balance
Computers
33.3% on cost
Motor vehicles
25% on reducing balance
1.4
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
APPLIED MICRO SCIENCES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2022
6,421
24,834
40,299
71,554
Additions
291
476
767
At 30 September 2023
6,421
25,125
40,775
72,321
Depreciation and impairment
At 1 October 2022
6,264
24,733
10,075
41,072
Depreciation charged in the year
24
198
7,675
7,897
At 30 September 2023
6,288
24,931
17,750
48,969
Carrying amount
At 30 September 2023
133
194
23,025
23,352
At 30 September 2022
157
101
30,224
30,482
4
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,070
3,254
Other taxation and social security
1,248
Other creditors
96,807
83,895
Accruals and deferred income
2,419
1,804
100,296
90,201
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100