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Company registration number: NI619477
AMS U.K. (NI) Ltd
Unaudited filleted financial statements
31 July 2024
AMS U.K. (NI) Ltd
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
AMS U.K. (NI) Ltd
Directors and other information
Directors Mr Alan Rodgers
Mrs Brigie Rodgers
Company number NI619477
Registered office 65 Fenaghy Road
Galgorm
Ballymena
Co Antrim
BT42 1HW
Business address 65 Fenaghy Road
Galgorm
Ballymena
Co Antrim
BT42 1HW
Accountants Potter Finnegan Limited
Unit 25 The Courtyard Business Park
190 Galgorm Road
Ballymena
Co Antrim
BT42 1HL
Bankers Bank of Ireland
11 Market Street
Magherafelt
BT45 6EE
AMS U.K. (NI) Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of AMS U.K. (NI) Ltd
Year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AMS U.K. (NI) Ltd for the year ended 31 July 2024 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of AMS U.K. (NI) Ltd, as a body, in accordance with the terms of our engagement letter dated 13 November 2024. Our work has been undertaken solely to prepare for your approval the financial statements of AMS U.K. (NI) Ltd and state those matters that we have agreed to state to the board of directors of AMS U.K. (NI) Ltd as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AMS U.K. (NI) Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that AMS U.K. (NI) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of AMS U.K. (NI) Ltd. You consider that AMS U.K. (NI) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of AMS U.K. (NI) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Potter Finnegan Limited
Chartered Accountants
Unit 25 The Courtyard Business Park
190 Galgorm Road
Ballymena
Co Antrim
BT42 1HL
4 April 2025
AMS U.K. (NI) Ltd
Balance sheet
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 545,308 566,552
_______ _______
545,308 566,552
Current assets
Debtors 5 14,334 15,122
Cash at bank and in hand 119 1,829
_______ _______
14,453 16,951
Creditors: amounts falling due
within one year 6 ( 513,673) ( 529,923)
_______ _______
Net current liabilities ( 499,220) ( 512,972)
_______ _______
Total assets less current liabilities 46,088 53,580
Provisions for liabilities 7 ( 5,345) ( 9,381)
_______ _______
Net assets 40,743 44,199
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 40,643 44,099
_______ _______
Shareholders funds 40,743 44,199
_______ _______
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 April 2025 , and are signed on behalf of the board by:
Mr Alan Rodgers Mrs Brigie Rodgers
Director Director
Company registration number: NI619477
AMS U.K. (NI) Ltd
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 65 Fenaghy Road, Galgorm, Ballymena, Co Antrim, BT42 1HW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 15 % straight line
Motor vehicles - 15 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Hire purchase and finance leases
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 August 2023 and 31 July 2024 517,178 114,976 62,104 26,700 720,958
_______ _______ _______ _______ _______
Depreciation
At 1 August 2023 - 104,050 30,736 19,620 154,406
Charge for the year - 8,523 9,316 3,405 21,244
_______ _______ _______ _______ _______
At 31 July 2024 - 112,573 40,052 23,025 175,650
_______ _______ _______ _______ _______
Carrying amount
At 31 July 2024 517,178 2,403 22,052 3,675 545,308
_______ _______ _______ _______ _______
At 31 July 2023 517,178 10,926 31,368 7,080 566,552
_______ _______ _______ _______ _______
5. Debtors
2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 4,912 4,912
Other debtors 9,422 10,210
_______ _______
14,334 15,122
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 504,916 512,916
Corporation tax 3,257 15,163
Social security and other taxes 4,000 -
Other creditors 1,500 1,844
_______ _______
513,673 529,923
_______ _______
7. Provisions
Deferred tax (note 8) Total
£ £
At 1 August 2023 and 31 July 2024 5,345 5,345
_______ _______
8. Deferred tax
The deferred tax included in the Balance sheet is as follows:
2024 2023
£ £
Included in provisions (note 7) 5,345 9,381
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 5,345 9,381
_______ _______
9. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
Loan from group company - - 504,916 512,916
Loan to parent company - - 4,912 4,912
_______ _______ _______ _______
During the year the company had a loan from a group company. The loan is interest free and repayable on demand. This is included in creditors. During the year the company had a loan with its parent company. The loan is interest free and repayable on demand. This is included in debtors.
11. Controlling party
The company is controlled by the directors.