Company registration number SC227528 (Scotland)
ADVANCED MAILING SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
ADVANCED MAILING SOLUTIONS LIMITED
COMPANY INFORMATION
Directors
Ms N Roome
Mr G McCreath
Secretary
Ms N Roome
Company number
SC227528
Registered office
21 Langlands Avenue
Kelvin South Business Park
East Kilbride
Lanarkshire
G75 0YG
Accountants
Wbg Services LLP
Suite 323
Edinburgh House
East Kilbride
G74 1LJ
ADVANCED MAILING SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ADVANCED MAILING SOLUTIONS LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,984
4,093
Current assets
Debtors
4
185,957
146,346
Cash at bank and in hand
177,281
157,608
363,238
303,954
Creditors: amounts falling due within one year
5
(187,119)
(123,592)
Net current assets
176,119
180,362
Total assets less current liabilities
179,103
184,455
Creditors: amounts falling due after more than one year
6
(30,647)
(35,891)
Provisions for liabilities
(746)
(802)
Net assets
147,710
147,762
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
147,708
147,760
Total equity
147,710
147,762
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ADVANCED MAILING SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 November 2024 and are signed on its behalf by:
Mr G McCreath
Director
Company registration number SC227528 (Scotland)
ADVANCED MAILING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
Advanced Mailing Solutions Limited is a private company limited by shares incorporated in Scotland. The registered office is 21 Langlands Avenue, Kelvin South Business Park, East Kilbride, Lanarkshire, G75 0YG.
1.1
Accounting convention
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 FRS 102 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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ADVANCED MAILING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Retirement benefits
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
7
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 June 2023
9,919
51,520
61,439
Additions
1,218
1,218
At 31 May 2024
11,137
51,520
62,657
Depreciation and impairment
At 1 June 2023
7,154
50,192
57,346
Depreciation charged in the year
1,012
1,315
2,327
At 31 May 2024
8,166
51,507
59,673
Carrying amount
At 31 May 2024
2,971
13
2,984
At 31 May 2023
2,765
1,328
4,093
ADVANCED MAILING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
181,368
142,645
Other debtors
4,589
3,701
185,957
146,346
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,247
5,247
Trade creditors
106,106
59,102
Corporation tax
20,446
18,753
Other taxation and social security
36,217
31,860
Other creditors
19,103
8,630
187,119
123,592
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,647
35,891