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Registration number: 04246606

Accident Management Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Accident Management Services Limited

Contents

Company Information

1

Statement of Comprehensive Income

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Accident Management Services Limited

Company Information

Directors

Mr C B Watkins

Mrs J H Watkins

Company secretary

Mrs J H Watkins

Registered office

9a Strawberry Fields
Hedge End
Southampton
Hampshire
SO30 4QX

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Accident Management Services Limited

Statement of Comprehensive Income for the Year Ended 30 April 2024

2024
£

2023
£

Profit/(loss) for the year

93,633

(2,920)

Total comprehensive income for the year

93,633

(2,920)

 

Accident Management Services Limited

(Registration number: 04246606)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

9,254

9,076

Current assets

 

Debtors

6

532,595

496,484

Cash at bank and in hand

 

127,012

105,382

 

659,607

601,866

Creditors: Amounts falling due within one year

7

(221,383)

(179,790)

Net current assets

 

438,224

422,076

Total assets less current liabilities

 

447,478

431,152

Creditors: Amounts falling due after more than one year

7

-

(7,264)

Provisions for liabilities

(2,170)

(1,733)

Net assets

 

445,308

422,155

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

445,306

422,153

Shareholders' funds

 

445,308

422,155

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Profit and Loss Account.

 

Accident Management Services Limited

(Registration number: 04246606)
Balance Sheet as at 30 April 2024 (continued)

Approved and authorised by the Board on 3 January 2025 and signed on its behalf by:
 

.........................................
Mr C B Watkins
Director

.........................................
Mrs J H Watkins
Company secretary and director

 

Accident Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
9a Strawberry Fields
Hedge End
Southampton
Hampshire
SO30 4QX

These financial statements were authorised for issue by the Board on 3 January 2025.

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

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

For No Win No Fee cases, invoices are raised when the work is completed but a provision is made and turnover reduced for the anticipated cancellation of invoices due to failed claim cases.

 

Accident Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

15% Reducing Balance

Fixtures and Fittings

15% Reducing Balance

Computer Equipment

15% Reducing Balance

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life. It was fully written down in 2023.

 

Accident Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

22 Years

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 7).

 

Accident Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

250,000

250,000

At 30 April 2024

250,000

250,000

Amortisation

At 1 May 2023

250,000

250,000

At 30 April 2024

250,000

250,000

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

7,583

958

30,700

39,241

Additions

724

-

926

1,650

At 30 April 2024

8,307

958

31,626

40,891

Depreciation

At 1 May 2023

5,288

737

24,140

30,165

Charge for the year

353

33

1,086

1,472

At 30 April 2024

5,641

770

25,226

31,637

Carrying amount

At 30 April 2024

2,666

188

6,400

9,254

At 30 April 2023

2,295

221

6,560

9,076

 

Accident Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Debtors

Current

2024
£

2023
£

Trade debtors

532,595

496,484

 

532,595

496,484

 

Accident Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

3,270

Trade creditors

 

-

10,252

Taxation and social security

 

217,284

162,030

Accruals and deferred income

 

2,814

2,680

Other creditors

 

1,285

1,558

 

221,383

179,790

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

7,264

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

7,264

 

Accident Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

9

Loans and borrowings (continued)

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

3,270

10

Obligations under leases and hire purchase contracts

Total of future minimum lease payments under non-cancellable operating periods:
<1 year - £1,907
>1 Year & <5 years - £5,329

 

11

Dividends

2024

2023

£

£

Interim dividend of £35,240.00 (2023 - £25,700.00) per ordinary share

70,480

51,400