AMS R&D UK Limited 05582006 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of research, development of test programmes and sales support for UK based customers of the group. Digita Accounts Production Advanced 6.30.9574.0 true true 05582006 2023-01-01 2023-12-31 05582006 2023-12-31 05582006 core:CurrentFinancialInstruments 2023-12-31 05582006 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05582006 core:WithinOneYear 2023-12-31 05582006 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 05582006 core:OfficeEquipment 2023-12-31 05582006 core:PlantMachinery 2023-12-31 05582006 bus:SmallEntities 2023-01-01 2023-12-31 05582006 bus:Audited 2023-01-01 2023-12-31 05582006 bus:FilletedAccounts 2023-01-01 2023-12-31 05582006 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05582006 bus:RegisteredOffice 2023-01-01 2023-12-31 05582006 bus:Director1 2023-01-01 2023-12-31 05582006 bus:Director2 2023-01-01 2023-12-31 05582006 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05582006 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31 05582006 core:OfficeEquipment 2023-01-01 2023-12-31 05582006 core:PlantMachinery 2023-01-01 2023-12-31 05582006 1 2023-01-01 2023-12-31 05582006 countries:EnglandWales 2023-01-01 2023-12-31 05582006 2022-12-31 05582006 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 05582006 core:OfficeEquipment 2022-12-31 05582006 core:PlantMachinery 2022-12-31 05582006 2022-01-01 2022-12-31 05582006 2022-12-31 05582006 core:CurrentFinancialInstruments 2022-12-31 05582006 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05582006 core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 05582006

AMS R&D UK Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

AMS R&D UK Limited

Contents

Statement of Financial Position

1

Notes to the Financial Statements

2 to 7

 

AMS R&D UK Limited

(Registration number: 05582006)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

443,727

454,891

Cash at bank and in hand

 

248,902

78,819

 

692,629

533,710

Creditors: Amounts falling due within one year

6

(178,255)

(66,285)

Net assets

 

514,374

467,425

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

513,374

466,425

Shareholders' funds

 

514,374

467,425

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 5 August 2024 and signed on its behalf by:
 


Keno Mischling
Director


Alina-Alexandra Bratu
Director

Approved and authorised by the Board on 5 August 2024 and signed on its behalf by:
 

.........................................
Keno Mischling
Director

.........................................
Alina-Alexandra Bratu
Director

 
     
 

AMS R&D UK Limited

Notes to the Financial Statements for the Year Ended 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:
10 Wellstones Close
Ivybridge
Plymouth
PL21 0FE

Principal activity

The principal activity of the company is that of research, development of test programmes and sales support for UK based customers of the group.

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

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

AMS R&D UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 5 August 2024 was Valerie Doyle, who signed for and on behalf of Westcotts (SW) LLP.

.........................................

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Turnover includes revenue earned from the rendering of services recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

 

AMS R&D UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 8).

 

AMS R&D UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Leasehold property
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

9,416

8,086

-

17,502

Additions

-

-

477

477

At 31 December 2023

9,416

8,086

477

17,979

Depreciation

At 1 January 2023

9,416

8,086

-

17,502

Charge for the year

-

-

477

477

At 31 December 2023

9,416

8,086

477

17,979

Carrying amount

At 31 December 2023

-

-

-

-

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of long leasehold land and buildings.
 

 

AMS R&D UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

5

Debtors

2023
£

2022
£

Trade debtors

1,367

125

Amounts owed by group companies

426,020

426,592

Other debtors

-

2,243

Prepayments

16,340

25,931

443,727

454,891

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,672

2,667

Accruals and deferred income

124,468

13,237

Taxation and social security

28,716

24,417

Other creditors

22,399

25,964

178,255

66,285

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

-

12,250

 

AMS R&D UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

9

Pension commitments

The company contributes to the personal pension schemes of its employees. The assets of the schemes are hold separately from those of the company in independently administered funds. Included in the statement of financial position are pensions of £7,076 (2022 - £6,468). They are included in Other Creditors.

10

Parent and ultimate parent undertaking

The ultimate controlling party is ams-OSRAM AG who controls 100% of the shares of AMS R&D UK Ltd.

 The company's immediate parent is ams-ORSAM AG, incorporated in Austria.

  These financial statements are available upon request from the secretary, Tobelbader Strasse 30, 8141 Premstatten, Austria.