Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-312022-04-01falseNo description of principal activity2018truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07250901 2022-04-01 2023-03-31 07250901 2021-04-01 2022-03-31 07250901 2023-03-31 07250901 2022-03-31 07250901 2021-04-01 07250901 c:Director1 2022-04-01 2023-03-31 07250901 d:PlantMachinery 2022-04-01 2023-03-31 07250901 d:PlantMachinery 2023-03-31 07250901 d:PlantMachinery 2022-03-31 07250901 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07250901 d:MotorVehicles 2022-04-01 2023-03-31 07250901 d:MotorVehicles 2023-03-31 07250901 d:MotorVehicles 2022-03-31 07250901 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07250901 d:ComputerEquipment 2022-04-01 2023-03-31 07250901 d:ComputerEquipment 2023-03-31 07250901 d:ComputerEquipment 2022-03-31 07250901 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07250901 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07250901 d:CurrentFinancialInstruments 2023-03-31 07250901 d:CurrentFinancialInstruments 2022-03-31 07250901 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07250901 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07250901 d:ShareCapital 2023-03-31 07250901 d:ShareCapital 2022-03-31 07250901 d:RetainedEarningsAccumulatedLosses 2023-03-31 07250901 d:RetainedEarningsAccumulatedLosses 2022-03-31 07250901 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07250901 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 07250901 d:RetirementBenefitObligationsDeferredTax 2023-03-31 07250901 d:RetirementBenefitObligationsDeferredTax 2022-03-31 07250901 c:OrdinaryShareClass1 2022-04-01 2023-03-31 07250901 c:OrdinaryShareClass1 2023-03-31 07250901 c:OrdinaryShareClass1 2022-03-31 07250901 c:FRS102 2022-04-01 2023-03-31 07250901 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07250901 c:FullAccounts 2022-04-01 2023-03-31 07250901 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07250901 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07250901










AMAX PROJECTS (FIRE AND SECURITY) LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023



 
AMAX PROJECTS (FIRE AND SECURITY) LTD
REGISTERED NUMBER: 07250901

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
25,948
34,804

  
25,948
34,804

Current assets
  

Stocks
  
60,989
53,685

Debtors: amounts falling due within one year
 5 
395,519
305,061

Cash at bank and in hand
 6 
53,143
34,640

  
509,651
393,386

Creditors: amounts falling due within one year
 7 
(759,684)
(430,484)

Net current liabilities
  
 
 
(250,033)
 
 
(37,098)

Total assets less current liabilities
  
(224,085)
(2,294)

Deferred tax
 8 
-
(9,262)

  
 
 
-
 
 
(9,262)

Net liabilities
  
(224,085)
(11,556)


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
(224,086)
(11,557)

  
(224,085)
(11,556)


Page 1

 
AMAX PROJECTS (FIRE AND SECURITY) LTD
REGISTERED NUMBER: 07250901

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Mehta
Director

Date: 18 April 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AMAX PROJECTS (FIRE AND SECURITY) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Amax Projects (Fire and Security) Ltd is a private company, limited by share capital and incorporated in England and Wales.
The Company's registered office address and principal place of business is Amax House, B1b Neptune Road, Harrow, Middlesex, HA1 4HX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The company has net liabilities is £224,085 (2022: £11,556). The directors have indicated that they are willing to continue to provide funding to support the company, to enable the company to meet its third party liabilities as they fall due, therefore the accounts have been prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
AMAX PROJECTS (FIRE AND SECURITY) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
AMAX PROJECTS (FIRE AND SECURITY) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Motor vehicles
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
AMAX PROJECTS (FIRE AND SECURITY) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2022 - 18).

Page 6

 
AMAX PROJECTS (FIRE AND SECURITY) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
15,298
24,000
4,800
44,098


Disposals
-
(4,000)
-
(4,000)



At 31 March 2023

15,298
20,000
4,800
40,098



Depreciation


At 1 April 2022
1,644
6,375
1,275
9,294


Charge for the year on owned assets
1,366
3,672
881
5,919


Disposals
-
(1,063)
-
(1,063)



At 31 March 2023

3,010
8,984
2,156
14,150



Net book value



At 31 March 2023
12,288
11,016
2,644
25,948



At 31 March 2022
13,654
17,625
3,525
34,804

Page 7

 
AMAX PROJECTS (FIRE AND SECURITY) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£

Trade debtors
388,852
305,061

Amounts owed by group undertakings
6,667
-

395,519
305,061



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
53,143
34,640

53,143
34,640



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
114,117
62,467

Amounts owed to group undertakings
503,877
278,517

Corporation tax
-
7,253

Other taxation and social security
135,607
20,046

Other creditors
3,333
-

Accruals and deferred income
2,750
62,201

759,684
430,484



8.


Deferred taxation




2023
2022


£

£






At beginning of year
(9,262)
(8,240)


Charged to profit or loss
9,262
(1,022)



At end of year
-
(9,262)

Page 8

 
AMAX PROJECTS (FIRE AND SECURITY) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
8.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(8,701)

Short term timing differences
-
(561)

-
(9,262)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1
1
1



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £19,61 (2022 - £14,027). Contributions totalling £675 (2022 -  £nil) were payable to the fund at the balance sheet date are included in other creditors,


11.


Related party transactions

As a wholly owned subsidiary, the Company is exempt from disclosing transactions with 100% owned
members of the group headed up by Amax Holdings London Ltd, in accordance with FRS102 paragraph
33.1A.


12.


Controlling party

The company is controlled  by Amax Holdings London Limited, by virtue of their 100% shareholding.


Page 9