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AMS Integrated Solutions Limited

Registered Number
SC725400
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

AMS Integrated Solutions Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Edward Patrick Joy
Gary Riordan
Andrew Robertson
Tigran Voskanyan

Registered Address

Office 2/3 2nd Floor
48 West George Street
Glasgow
G2 1BP

Registered Number

SC725400 (Scotland)
AMS Integrated Solutions Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid10,00010,000
Fixed assets
Tangible assets42,918-
2,918-
Current assets
Stocks52,325,000-
Debtors6181,611-
Cash at bank and on hand23,334-
2,529,945-
Creditors amounts falling due within one year7(2,511,819)-
Net current assets (liabilities)28,12610,000
Total assets less current liabilities31,04410,000
Provisions for liabilities8(729)-
Net assets30,31510,000
Capital and reserves
Called up share capital10,00010,000
Profit and loss account20,315-
Shareholders' funds30,31510,000
The financial statements were approved and authorised for issue by the Board of Directors on 5 March 2025, and are signed on its behalf by:
Tigran Voskanyan
Director
Registered Company No. SC725400
AMS Integrated Solutions Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 rendering of services.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year10
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions2,9182,918
At 31 March 242,9182,918
Net book value
At 31 March 242,9182,918
At 31 March 23--
5.Stocks

2024

2023

££
Finished goods2,325,000-
Total2,325,000-
6.Debtors: amounts due within one year

2024

2023

££
Other debtors179,736-
Prepayments and accrued income1,875-
Total181,611-
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables35,188-
Amounts owed to related parties2,441,940-
Taxation and social security4,602-
Accrued liabilities and deferred income30,089-
Total2,511,819-
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)729-
Total729-
9.Controlling party
The company has been acquired through a management buyout of 100% of the outstanding shares that was agreed effective 30 June 2023. The ultimate parent undertaking is Evolva Group Limited, a UAE entity.