Advanced Machinery Services Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Advanced Machinery Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06405798 . The registered office is Skeffington Mill Uppingham Road, Skeffington, Leicester, LE7 9YE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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 £.

2.2. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 7 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	20% on cost
Plant & Machinery	33% on cost
Motor Vehicles	25% on cost
Fixtures & Fittings	33% on cost

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.

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Advanced Machinery Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the profit / loss before taxation.

2.9. Taxation

Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive income or directly in equity respectively.

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

2.10. Provisions and Contingencies

Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.12. Share Based Payments

The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 31 (2023: 28)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	2,674

As at 31 December 2024	2,674

Amortisation
As at 1 January 2024	2,674

As at 31 December 2024	2,674

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

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Advanced Machinery Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 January 2024	1,733	109,091	288,633	101,644	501,101
Additions	5,140	-	47,816	3,156	56,112
Disposals	-	-	(11,799 )	-	(11,799 )

As at 31 December 2024	6,873	109,091	324,650	104,800	545,414

Depreciation
As at 1 January 2024	1,733	92,854	160,063	94,931	349,581
Provided during the period	600	5,558	64,392	3,514	74,064
Disposals	-	-	(11,799 )	-	(11,799 )

As at 31 December 2024	2,333	98,412	212,656	98,445	411,846

Net Book Value
As at 31 December 2024	4,540	10,679	111,994	6,355	133,568

As at 1 January 2024	-	16,237	128,570	6,713	151,520

6. Stocks

	2024	2023
	£	£
Stock	1,643,505	1,657,251
Work in progress	59,262	36,398

	1,702,767	1,693,649

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	293,665	336,495
Prepayments and accrued income	20,549	16,750
Other debtors	19,735	10,772
Amounts owed by subsidiaries	43,728	67,916

	377,677	431,933

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Advanced Machinery Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	202,647	181,594
Corporation tax	116,922	176,840
Other taxes and social security	28,231	23,726
VAT	90,312	134,494
Net wages	10,750	-
Other creditors	263,494	257,432
Accruals and deferred income	651,455	649,441
Directors' loan accounts	188,103	372,222

	1,551,914	1,795,749

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	14,719	19,400

10. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
305,000 Ordinary Shares of £ 0.001 each	305	305

11. Dividends

	2024	2023
	£	£
On equity shares:
Interim dividend paid	336,171	548,592

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		133,568		151,520

			133,568		151,520
CURRENT ASSETS
Stocks	6	1,702,767		1,693,649
Debtors	7	377,677		431,933
Cash at bank and in hand		736,653		942,922

		2,817,097		3,068,504
Creditors: Amounts Falling Due Within One Year	8	(1,551,914 )		(1,795,749 )

NET CURRENT ASSETS (LIABILITIES)			1,265,183		1,272,755

TOTAL ASSETS LESS CURRENT LIABILITIES			1,398,751		1,424,275

PROVISIONS FOR LIABILITIES
Provisions For Charges			(11,048 )		(16,427 )
Deferred Taxation	9		(14,719 )		(19,400 )

NET ASSETS			1,372,984		1,388,448

CAPITAL AND RESERVES
Called up share capital	10		305		305
Share premium account			24,995		24,995
Fair value reserve			24,537		10,221
Profit and Loss Account			1,323,147		1,352,927

SHAREHOLDERS' FUNDS			1,372,984		1,388,448