Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-3035352022-12-01falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09130319 2022-12-01 2023-11-30 09130319 2021-12-01 2022-11-30 09130319 2023-11-30 09130319 2022-11-30 09130319 c:Director1 2022-12-01 2023-11-30 09130319 d:PlantMachinery 2022-12-01 2023-11-30 09130319 d:PlantMachinery 2023-11-30 09130319 d:PlantMachinery 2022-11-30 09130319 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 09130319 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 09130319 d:OfficeEquipment 2022-12-01 2023-11-30 09130319 d:OfficeEquipment 2023-11-30 09130319 d:OfficeEquipment 2022-11-30 09130319 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 09130319 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 09130319 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 09130319 d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 09130319 d:Goodwill 2023-11-30 09130319 d:Goodwill 2022-11-30 09130319 d:CurrentFinancialInstruments 2023-11-30 09130319 d:CurrentFinancialInstruments 2022-11-30 09130319 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 09130319 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 09130319 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 09130319 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 09130319 d:ShareCapital 2023-11-30 09130319 d:ShareCapital 2022-11-30 09130319 d:RetainedEarningsAccumulatedLosses 2023-11-30 09130319 d:RetainedEarningsAccumulatedLosses 2022-11-30 09130319 c:FRS102 2022-12-01 2023-11-30 09130319 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 09130319 c:FullAccounts 2022-12-01 2023-11-30 09130319 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09130319 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 09130319 d:TaxLossesCarry-forwardsDeferredTax 2022-11-30 09130319 2 2022-12-01 2023-11-30 09130319 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 09130319









AMS TECHNICAL (PLASTICS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
AMS TECHNICAL (PLASTICS) LIMITED
REGISTERED NUMBER: 09130319

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
266,638
442,015

  
266,638
442,015

Current assets
  

Stocks
  
495,265
541,194

Debtors: amounts falling due within one year
 7 
508,188
474,178

Cash at bank and in hand
 8 
44,984
152,576

  
1,048,437
1,167,948

Creditors: amounts falling due within one year
  
(1,394,125)
(1,506,116)

Net current liabilities
  
 
 
(345,688)
 
 
(338,168)

Total assets less current liabilities
  
(79,050)
103,847

Creditors: amounts falling due after more than one year
  
(77,361)
(134,070)

Provisions for liabilities
  

Deferred tax
 10 
(22,256)
(38,613)

  
 
 
(22,256)
 
 
(38,613)

Net liabilities
  
(178,667)
(68,836)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(178,767)
(68,936)

  
(178,667)
(68,836)


Page 1

 
AMS TECHNICAL (PLASTICS) LIMITED
REGISTERED NUMBER: 09130319
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers 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 director acknowledges his 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 income and retained earnings 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: 




................................................
J P Kelly
Director

Date: 30 August 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
AMS TECHNICAL (PLASTICS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

AMS Technical (Plastics) Limited is a private company limited by shares, registered in the United Kingdom number 09130319. Its registered office is Manor House, 35 St. Thomas’s Road, Chorley, Lancashire, PR7 1HP.
During the year, the principal activity of the company continued to be that of plastic mouldings.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
AMS TECHNICAL (PLASTICS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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.

 
2.8

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.

Page 4

 
AMS TECHNICAL (PLASTICS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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, using the applicable method outlined below.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Straight line
Office equipment
-
15%
Reducing balance

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.

 
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.

Page 5

 
AMS TECHNICAL (PLASTICS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 35 (2022 - 35).


4.


Taxation


2023
2022
£
£



Total current tax
-
-

Deferred tax


Origination and reversal of timing differences
(16,357)
4,025

Total deferred tax
(16,357)
4,025


(16,357)
4,025

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  19% (2022 - 19%).


Page 6

 
AMS TECHNICAL (PLASTICS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
4.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 7

 
AMS TECHNICAL (PLASTICS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Intangible assets




Goodwill

£



Cost


At 1 December 2022
18,500



At 30 November 2023

18,500



Amortisation


At 1 December 2022
18,500



At 30 November 2023

18,500



Net book value



At 30 November 2023
-



At 30 November 2022
-



Page 8

 
AMS TECHNICAL (PLASTICS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 December 2022
1,033,022
30,299
1,063,321


Additions
16,111
6,387
22,498



At 30 November 2023

1,049,133
36,686
1,085,819



Depreciation


At 1 December 2022
605,630
15,676
621,306


Charge for the year on owned assets
105,671
2,699
108,370


Charge for the year on financed assets
89,505
-
89,505



At 30 November 2023

800,806
18,375
819,181



Net book value



At 30 November 2023
248,327
18,311
266,638



At 30 November 2022
427,392
14,623
442,015

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:





Page 9

 
AMS TECHNICAL (PLASTICS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
407,929
400,432

Other debtors
53,711
25,685

Prepayments and accrued income
46,548
48,061

508,188
474,178



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
44,984
152,576

Less: bank overdrafts
(97,375)
(46,966)

(52,391)
105,610



9.


Hire purchase and finance leases


2023
2022
£
£

 
-
 
-


10.


Deferred taxation




2023


£






At beginning of year
(38,613)


Charged to profit or loss
16,357



At end of year
(22,256)

Page 10

 
AMS TECHNICAL (PLASTICS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Tax losses carried forward
(22,256)
(38,613)

(22,256)
(38,613)


11.


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.

 
Page 11