REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th September 2023 |
for |
AAM Business Solutions Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th September 2023 |
for |
AAM Business Solutions Ltd |
AAM Business Solutions Ltd (Registered number: 09797407) |
Contents of the Financial Statements |
for the year ended 30th September 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
AAM Business Solutions Ltd (Registered number: 09797407) |
Balance Sheet |
30th September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
AAM Business Solutions Ltd (Registered number: 09797407) |
Balance Sheet - continued |
30th September 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
AAM Business Solutions Ltd (Registered number: 09797407) |
Notes to the Financial Statements |
for the year ended 30th September 2023 |
1. | STATUTORY INFORMATION |
AAM Business Solutions Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 FRS102 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, [modified to include the |
revaluation of freehold properties and to include investment properties and certain financial instruments at fair |
value]. The principal accounting policies adopted are set out below. |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 30th September 2023 are the first financial statements of AAM Business Solutions Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 October 2021. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery etc - 15% on reducing balance |
Computer equipment - 20% on reducing balance |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
AAM Business Solutions Ltd (Registered number: 09797407) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
AAM Business Solutions Ltd (Registered number: 09797407) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st October 2022 |
Additions |
At 30th September 2023 |
DEPRECIATION |
At 1st October 2022 |
Charge for year |
At 30th September 2023 |
NET BOOK VALUE |
At 30th September 2023 |
At 30th September 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans |
8. | OTHER FINANCIAL COMMITMENTS |
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £12,701 (2022 £11,875). |
AAM Business Solutions Ltd (Registered number: 09797407) |
Notes to the Financial Statements - continued |
for the year ended 30th September 2023 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year, the company provided the directors with a loan. The balance outstanding at the year end was £73,033 (2022 £44,270). The loan has no formal repayment terms and interest is charged on the loan. |