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Registration number: 14232548

AMS Nuclear Engineering (Holdings) Limited

Annual Report and Unaudited Financial Statements

for the Period from 13 July 2022 to 31 December 2023

 

AMS Nuclear Engineering (Holdings) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

AMS Nuclear Engineering (Holdings) Limited

(Registration number: 14232548)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Investments

4

2,840,161

Current assets

 

Debtors

5

126,696

Cash at bank and in hand

 

75,323

 

202,019

Creditors: Amounts falling due within one year

6

(215,904)

Net current liabilities

 

(13,885)

Total assets less current liabilities

 

2,826,276

Creditors: Amounts falling due after more than one year

6

(420,000)

Net assets

 

2,406,276

Capital and reserves

 

Called up share capital

8,101

Share premium reserve

1,636,071

Retained earnings

762,104

Shareholders' funds

 

2,406,276

 

AMS Nuclear Engineering (Holdings) Limited

(Registration number: 14232548)
Balance Sheet as at 31 December 2023

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 April 2024 and signed on its behalf by:
 

Mr B Mellick
Director

   
     
 

AMS Nuclear Engineering (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2022 to 31 December 2023

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:
Unit 1604-1605
Carnival Way
North Petherton
Bridgwater
TA6 6GY

These financial statements were authorised for issue by the Board on 12 April 2024.

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.

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

Group accounts not prepared

The company is exempt under section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as the group is small.

Going concern

Having reviewed the financial resources available to the company, they are confident that the company can continue to pay its debts as they fall due and accordingly have prepared the financial statements on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

AMS Nuclear Engineering (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2022 to 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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

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.

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.

 

AMS Nuclear Engineering (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2022 to 31 December 2023

Dividends

A 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.

Share based payments

The group provides benefits to employees on the form of share-based payment transactions, whereby employeees render services as consideration ofr equity instructions. The cost of the equity settled transactions is measured by reference to the fair value oon the grant date and is recognised as an expense over the relevant vesting period.

Upon vesting of an equity instrument, the cumilative costs of the share-based payment is reclasified to retained earnings in equity.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 2.

4

Investments

2023
£

Investments in subsidiaries

2,840,161

Subsidiaries

£

Cost or valuation

Additions

2,840,161

At 31 December 2023

2,840,161

Provision

Provision

-

At 31 December 2023

-

Carrying amount

At 31 December 2023

2,840,161

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

AMS Nuclear Engineering (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2022 to 31 December 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

Subsidiary undertakings

AMS Nuclear Engineering Limited

1604-1605 Carnival Way, North Petherton, Bridgwater, Somerset, TA6 6GY

England and Wales

Ordinary

100%

Subsidiary undertakings

AMS Nuclear Engineering Limited

The principal activity of AMS Nuclear Engineering Limited is the design and manufacture of components for the nuclear industry.

5

Debtors

2023
£

Amounts owed by related parties

119,120

Other debtors

1

Prepayments

7,575

126,696

6

Creditors

Due within one year

Note

2023
£

 

Loans and borrowings

7

210,000

Accruals

 

5,904

 

215,904

Due after one year

 

Loans and borrowings

7

420,000

Creditors falling due within one year include bank loans which are secured by way of a fixed and floating charge over the assets of the company. The amount secured at the balance sheet date is £210,000.

Creditors falling due after more than one year include bank loans which are secured by way of a fixed and floating charge over the assets of the company. The amount secured at the balance sheet date is £420,000.

 

AMS Nuclear Engineering (Holdings) Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2022 to 31 December 2023

7

Loans and borrowings

Non-current loans and borrowings

2023
£

Bank borrowings

420,000

Current loans and borrowings

2023
£

Bank borrowings

210,000

 

8

Share-based payments

EMI share options
The company issued 3,045 EMI options in the period, which were exercised on 17 March 2023. A share based payment expense of £52,951 has been recognised in the profit and loss account in the period, and there are no remaining options outstanding at the end of the financial period.