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REGISTERED NUMBER: 03441168 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AMS MOTOR CYCLES LIMITED

AMS MOTOR CYCLES LIMITED (REGISTERED NUMBER: 03441168)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


AMS MOTOR CYCLES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 December 2023







DIRECTORS: M G Saunders
J Metcalfe
G Saunders





SECRETARY: M G Saunders





REGISTERED OFFICE: 41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX





REGISTERED NUMBER: 03441168 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX

AMS MOTOR CYCLES LIMITED (REGISTERED NUMBER: 03441168)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,821 34,443
Tangible assets 5 118,317 128,552
146,138 162,995

CURRENT ASSETS
Stocks 1,050,000 491,845
Debtors 6 236,290 192,762
Cash at bank 2,027,170 1,742,902
3,313,460 2,427,509
CREDITORS
Amounts falling due within one year 7 2,833,253 1,974,645
NET CURRENT ASSETS 480,207 452,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

626,345

615,859

PROVISIONS FOR LIABILITIES 16,339 15,524
NET ASSETS 610,006 600,335

CAPITAL AND RESERVES
Called up share capital 50,001 50,001
Retained earnings 560,005 550,334
SHAREHOLDERS' FUNDS 610,006 600,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 18 September 2024 and were signed on its behalf by:





M G Saunders - Director


AMS MOTOR CYCLES LIMITED (REGISTERED NUMBER: 03441168)

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

1. STATUTORY INFORMATION

AMS Motor Cycles Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 1997, is being amortised evenly over its estimated useful life of seven years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% 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.

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 9 (2022 - 8 ) .

AMS MOTOR CYCLES LIMITED (REGISTERED NUMBER: 03441168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2023

4. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 89,000 69,750 158,750
AMORTISATION
At 1 January 2023 89,000 35,307 124,307
Amortisation for year - 6,622 6,622
At 31 December 2023 89,000 41,929 130,929
NET BOOK VALUE
At 31 December 2023 - 27,821 27,821
At 31 December 2022 - 34,443 34,443

5. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 152,677 165,337 118,020 32,697 468,731
Additions 8,035 11,974 - 1,574 21,583
At 31 December 2023 160,712 177,311 118,020 34,271 490,314
DEPRECIATION
At 1 January 2023 90,606 127,980 94,777 26,816 340,179
Charge for year 15,422 8,808 5,811 1,777 31,818
At 31 December 2023 106,028 136,788 100,588 28,593 371,997
NET BOOK VALUE
At 31 December 2023 54,684 40,523 17,432 5,678 118,317
At 31 December 2022 62,071 37,357 23,243 5,881 128,552

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 236,290 192,762

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,747,242 1,901,492
Taxation and social security 78,289 65,384
Other creditors 7,722 7,769
2,833,253 1,974,645

AMS MOTOR CYCLES LIMITED (REGISTERED NUMBER: 03441168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
M G Saunders
Balance outstanding at start of year - 19,896
Amounts advanced 22,996 20,720
Amounts repaid - (40,616 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,996 -

9. RELATED PARTY DISCLOSURES

During the year the company paid £20,000 (2022: £20,000) to Mr M Saunders, a director, for rent of the premises. The company also paid dividends to Mr J Metcalfe totalling £49,680 (2022: £40,527), and £46,854.58 (2022: £49,885) to Mr M Saunders, and £3,420 (2022: £42,425.47) to Mr G Saunders during the year.

The company made a loan of £236,502 to Mr G and Miss L Saunders (the children of Mr M Saunders) in a prior the year. The balance owing at the year-end date was £138,002 (2022: £157,860).