Amsys Aftermarket Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06352846 (England and Wales)

AMSYS AFTERMARKET SERVICES LIMITED

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

A D Hawes

D K Parlour

REGISTERED OFFICE:

Byron House

2a Lower Road

Kenley

Surrey

CR8 5NB

REGISTERED NUMBER:

06352846 (England and Wales)

AUDITORS:

Wags LLP t/a Wagstaffs

Chartered Accountants and Statutory Auditors

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

CURRENT ASSETS

Debtors

5

868,671

883,632

Cash at bank

505

2,176

869,176

885,808

CREDITORS

Amounts falling due within one year

6

(646,012

)

(655,510

)

NET CURRENT ASSETS

223,164

230,298

TOTAL ASSETS LESS CURRENT LIABILITIES

223,164

230,298

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

223,162

230,296

SHAREHOLDERS' FUNDS

223,164

230,298

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th September 2021 and were signed on its behalf by:

A D Hawes - Director

1.	STATUTORY INFORMATION

Amsys Aftermarket Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these financial statements.

Revenue

Revenue represents the total invoice value, excluding value added tax, trade discounts and all other taxes of sales made during the year.

Revenue recognition

Revenue is measured at fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The company provides repair services of micro-computers and related peripheral products to corporate entities. Revenue is recognised in the accounting period in which the services are rendered when the outcome of the contract has been concluded.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tax

Tax for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred tax assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

719,438

745,738

Amounts owed by group undertakings

149,233

125,321

Other debtors

-

12,573

868,671

883,632

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

3,876

2,105

Taxation and social security

8,403

3,877

Other creditors

633,733

649,528

646,012

655,510

7.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Other creditors

633,694

649,076

The company's factoring facilities are secured by way of a fixed and floating charge over the assets and property of the Amsys Technology Holdings Ltd group.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

20

Ordinary

£0.10

2

2

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

M R Hubbocks FCA (Senior Statutory Auditor)

for and on behalf of Wags LLP t/a Wagstaffs

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	PARENT RELATIONSHIPS

The company is a wholly owned subsidiary of Amsys Technology Holdings Ltd, a company in incorporated in England and Wales at Bryon House, Lower Road, Kenley, Surrey, CR8 5NB.

Amsys Technology Holdings Ltd prepares the smallest and largest group financial statements in which the results of the company are included. Copies of the group financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.