Registered number
SC312105
AMS SCOTLAND LIMITED
Filleted Accounts
31 December 2023
AMS SCOTLAND LIMITED
Registered number: SC312105
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 131,306 88,830
Investments 5 1 1
131,307 88,831
Current assets
Debtors 6 50,000 2,515
Cash at bank and in hand 289,453 253,840
339,453 256,355
Creditors: amounts falling due within one year 7 (101,037) (101,957)
Net current assets 238,416 154,398
Total assets less current liabilities 369,723 243,229
Creditors: amounts falling due after more than one year 9 (62,739) (46,502)
Provisions for liabilities 10 (24,860) (16,771)
Net assets 282,124 179,956
Capital and reserves
Called up share capital 3 3
Profit and loss account 282,121 179,953
Shareholders' funds 282,124 179,956
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
William Mitchell
Director
Approved by the board on 11 September 2024
AMS SCOTLAND LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is 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.
Government Grants
Government grants are recognised at the fair value of the asset received or receivable.
Grants are not recognised until there is reasonable assurance that the company will
comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a
systematic basis over the periods in which the company recognises the related costs for
which the is intended to compensate. Grants that are receivable as compensation for
expenses or losses already incurred or for the purpose of giving immediate financial support
to the entity with no future related costs are recognised in income in the period in which it
becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected
useful life of the asset. Where part of a grant relating to an asset is deferred, it is
recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future
performance-related conditions on the recipient, it is recognised in income when the
grant proceeds are received or receivable. Where the grant does impose specified future
performance-related conditions on the recipient, it is recognised in income only when the
performance-related conditions have been met. Where grants received are prior to
satisfying the revenue recognised criteria, they are recognised as a liability.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 188,000
At 31 December 2023 188,000
Amortisation
At 1 January 2023 188,000
At 31 December 2023 188,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 7 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 88,278 165,429 253,707
Additions 6,828 68,474 75,302
At 31 December 2023 95,106 233,903 329,009
Depreciation
At 1 January 2023 34,528 130,349 164,877
Charge for the year 12,115 20,711 32,826
At 31 December 2023 46,643 151,060 197,703
Net book value
At 31 December 2023 48,463 82,843 131,306
At 31 December 2022 53,750 35,080 88,830
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 1
At 31 December 2023 1
Historical cost
At 1 January 2023 1
At 31 December 2023 1
6 Debtors 2023 2022
£ £
Other debtors 50,000 2,515
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,746 6,613
Obligations under finance lease and hire purchase contracts 13,480 18,808
Trade creditors 7,361 8,722
Taxation and social security costs 63,998 62,220
Other creditors 8,452 5,594
101,037 101,957
8 Directors loan account
Included in other creditors is the sum of £ 6,922 (£1,764 - 2022) for
Directors loan account which is repayable upon demand.
9 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 31,066 36,066
Obligations under finance lease and hire purchase contracts 31,673 5,401
Other creditors - 5,035
62,739 46,502
10 Bounceback Loan
Effective interest rate 2.5% per annum (repayments over 10 years)

Year......Bal b/f..............Interest...............Cashflow.............Bal c/f
.................£.......................£..........................£..........................£
----------------------------------------------------------------------------------------------
....1.........50000........................................................................50000
....2.........50000..................1250.00................-5000........... 45000
....3.........45000..................1125.00................-5000............40000
....4.........40000..................1000.00................-5000............35000
....5.........35000....................875.00................-5000............30000
....6.........30000....................750.00................-5000............25000
....7.........25000....................625.00................-5000............20000
....8.........20000....................500.00................-5000............15000
....9.........15000....................375.00................-5000............10000
....10.......10000....................250.00................-5000..............5000
....11.........5000.....................125.00...............-5000........................

............................................. 6875.00.............-50000............................
Less BIP payment 1250.00
Total Interest Payable 5625.00

Interest 12 months 1250.00, account for 6 months as Gov paid Interest till Dec 2021
£ 625.00 interest in Accounts period 1, and £625.00 in Accounts period 2.
11 Deferred tax Current year Comp year
£ £
B/fwd 16,771 15,179
Charged to profit and loss 8,089 1,592
Charged to other comprehensive income - -
24,860 16,771
12 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Ryan Mitchell (Appointed Director 28.09.2023)
Loan 1 - 87,520 (37,520) 50,000
- 87,520 (37,520) 50,000
13 Other information
AMS SCOTLAND LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
22 Rehills View
Lennoxton
GLASGOW
East Dunbartonshire
G66 7BL
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