AMS R&D UK Ltd 31/12/2022 iXBRL

AMS R&D UK Ltd 31/12/2022 iXBRL

AMS R&D UK LTD - Company Information

Print Friendly Version

8 31/12/2022 2022-12-31 false false false false true false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-01-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05582006 2022-01-01 2022-12-31 05582006 2022-12-31 05582006 2021-01-01 2021-12-31 05582006 2021-12-31 05582006 bus:LeadAgentIfApplicable 2022-01-01 2022-12-31 05582006 bus:Director4 2022-01-01 2022-12-31 05582006 core:WithinOneYear 2022-12-31 05582006 core:WithinOneYear 2021-12-31 05582006 core:ShareCapital 2022-12-31 05582006 core:ShareCapital 2021-12-31 05582006 core:RetainedEarningsAccumulatedLosses 2022-12-31 05582006 core:RetainedEarningsAccumulatedLosses 2021-12-31 05582006 core:BetweenOneFiveYears 2021-12-31 05582006 bus:SmallEntities 2022-01-01 2022-12-31 05582006 bus:Audited 2022-01-01 2022-12-31 05582006 bus:FullAccounts 2022-01-01 2022-12-31 05582006 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 05582006 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31
Company registration number: 05582006
AMS R&D UK Ltd
Filleted financial statements
31 December 2022
AMS R&D UK LTD
DIRECTORS RESPONSIBILITIES STATEMENT
YEAR ENDED 31 DECEMBER 2022
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
AMS R&D UK LTD
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022
2022 2021
Note £ £ £ £
Current assets
Debtors 5 454,891 417,202
Cash at bank and in hand 78,819 58,016
_______ _______
533,710 475,218
Creditors: amounts falling due
within one year 6 ( 66,285) ( 58,260)
_______ _______
Net current assets 467,425 416,958
_______ _______
Total assets less current liabilities 467,425 416,958
_______ _______
Net assets 467,425 416,958
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 7 466,425 415,958
_______ _______
Shareholders funds 467,425 416,958
_______ _______
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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 August 2023 , and are signed on behalf of the board by:
Yunus Dogan
Director
Company registration number: 05582006
AMS R&D UK LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Wellstones Close, Ivybridge, Devon, PL21 0FE.
Principal activity
The principal activity of the company is that of research, development of test programmes and sales support for UK based customers of the group.
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 measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
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. Turnover includes revenue earned from the rendering of services recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2021: 6 ).
5. Debtors
2022 2021
£ £
Trade debtors 125 6,179
Amounts owed by group undertakings and undertakings in which the company has a participating interest 426,592 408,943
Other debtors 28,174 2,080
_______ _______
454,891 417,202
_______ _______
6. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 2,667 -
Accruals and deferred income 13,237 5,018
Social security and other taxes 24,417 30,518
Other creditors 25,964 22,724
_______ _______
66,285 58,260
_______ _______
7. Reserves
Profit and loss account:This reserve records retained earnings.
8. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 12,250 24,500
Later than 1 year and not later than 5 years - 12,250
_______ _______
12,250 36,750
_______ _______
9. Pension commitments
The company contributes to the personal pension schemes of its employees. The assets of the schemes are held separately from those of the company in independently administered funds. At the balance sheet date unpaid contributions of £6,468 (2021:£6,809) were due to the fund. They are included in Other Creditors.
10. Summary audit opinion
The auditor's report for the year dated 09 August 2023 was unqualified.
The senior statutory auditor was Valerie Doyle for and on behalf of Westcotts
11. Controlling party
The company's immediate and ultimate parent undertaking is ams-OSRAM AG which is registered in Austria. Copies of the group accounts may be obtained from the secretary, Tobelbader Strasse 30, 8141 Premstatten, Austria. The ultimate controlling party is ams-OSRAM AG who controls 100% of the shares of AMS R & D UK Ltd.