AMS Communications Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12375300 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 23 DECEMBER 2019 TO 31 DECEMBER 2020

FOR

AMS COMMUNICATIONS LTD

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Tangible assets

4

5,792

Current assets

Debtors

5

76,617

Cash at bank

294,879

371,496

Creditors

Amounts falling due within one year

6

260,273

Net current assets

111,223

Total assets less current liabilities

117,015

Creditors

Amounts falling due after more than one year

7

119,634

Net liabilities

(2,619

)

Capital and reserves

Called up share capital

10

2

Retained earnings

(2,621

)

Shareholders' funds

(2,619

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2021 and were signed by:

Mr A M Summerfield - Director

1.	Statutory information

AMS Communications Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 12375300. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 11 Links Road, Poole, Dorset, BH14 9QP.

2.	Accounting policies

Basis of preparing the financial statements

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

The company made a loss of £2,621 during the year and has a deficiency of assets at the year end of £2,619. The company is dependant upon the continued support of its director. The director has given their assurance that they will provide sufficient further finance as may prove necessary to meet the company's working capital requirements.

Turnover

Turnover represents the retail sale of mobile telephones, net of VAT.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Government grants

Using the accrual basis government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants which become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Taxation

Taxation for the period 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 taxation 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 balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the period was 25 .

4.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

Additions

2,753

4,969

7,722

At 31 December 2020

2,753

4,969

7,722

Depreciation

Charge for period

688

1,242

1,930

At 31 December 2020

688

1,242

1,930

Net book value

At 31 December 2020

2,065

3,727

5,792

5.

Debtors: amounts falling due within one year

£

Other debtors

19,642

Prepayments and accrued income

56,975

76,617

6.

Creditors: amounts falling due within one year

£

Bank loans and overdrafts

64,601

Trade creditors

28,571

Social security and other taxes

12,455

Pension

2,146

VAT

41,221

Directors' current accounts

109,029

Accruals and deferred income

2,250

260,273

7.

Creditors: amounts falling due after more than one year

£

Bank loans - 1-2 years

67,355

Bank loans - 2-5 years

52,279

119,634

8.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

70,106

Between one and five years

43,548

113,654

9.	Secured debts

The following secured debts are included within creditors:

£

Bank loans

184,235

Amounts owing to HSBC Plc are secured against all the assets of the company by way of a legal charge dated 19 June 2020.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£1

2

2 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

11.	Ultimate controlling party

The Company is under the control of the Director, Mr A Summerfield and his wife, Mrs L Summerfield, by virtue of their combined 100% holding of the issued voting share capital of the Company.