Asset Management Solutions Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04086476 (England and Wales)

Financial Statements

for the Year Ended 31 March 2023

for

Asset Management Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Mrs S A Brooks

J P George

Secretary:

J P George

Registered office:

46 Charles Street

Cardiff

South Wales

CF10 2GE

Registered number:

04086476 (England and Wales)

Accountants:

Roger Thomas Limited

9 Court Road

Bridgend

South Wales

CF31 1BE

Fixed assets

Tangible assets

4

4,689

4,008

Current assets

Debtors

5

128,212

79,578

Cash at bank

151,945

165,482

280,157

245,060

Creditors

Amounts falling due within one year

6

79,519

70,255

Net current assets

200,638

174,805

Total assets less current liabilities

205,327

178,813

Capital and reserves

Called up share capital

600

600

Retained earnings

204,727

178,213

Shareholders' funds

205,327

178,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2023 and were signed on its behalf by:

J P George - Director

1.	Statutory information

Asset Management Solutions 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.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 cost

Other fixed assets

-

25% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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 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.

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.

3.	Employees and directors

The average number of employees during the year was 9 (2022 - 9 ) .

4.	Tangible fixed assets

Fixtures

Other

and

fixed

Computer

fittings

assets

equipment

Totals

£

£

£

£

Cost

At 1 April 2022

8,152

4,898

73,555

86,605

Additions

-

-

3,690

3,690

At 31 March 2023

8,152

4,898

77,245

90,295

Depreciation

At 1 April 2022

8,152

4,898

69,547

82,597

Charge for year

-

-

3,009

3,009

At 31 March 2023

8,152

4,898

72,556

85,606

Net book value

At 31 March 2023

-

-

4,689

4,689

At 31 March 2022

-

-

4,008

4,008

5.

Debtors: amounts falling due within one year

31.3.23

31.3.22

£

£

Trade debtors

70,818

60,442

Other debtors

57,394

19,136

128,212

79,578

6.

Creditors: amounts falling due within one year

31.3.23

31.3.22

£

£

Trade creditors

216

900

Taxation and social security

64,636

44,245

Other creditors

14,667

25,110

79,519

70,255