AMG World Solutions Limited - Period Ending 2022-09-30

AMG World Solutions Limited

(Registration number: 09158197)
Balance Sheet as at 30 September 2022

	Note	2022 €	2021 €
Current assets
Debtors	7	111,048	508,054
Cash at bank and in hand		81,000	127,677
		192,048	635,731
Creditors: Amounts falling due within one year	8	(160,698)	(594,077)
Net assets		31,350	41,654
Capital and reserves
Called up share capital	11	113	113
Other reserves		999	999
Retained earnings		30,238	40,542
Shareholders' funds		31,350	41,654

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 January 2024
 

......................................... D Tricard Director

AMG World Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2022

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

Principal activity

The principal activity of the company is provison of consultancy services.
 

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Euros. As the majority of the company's transactions are accounted for in Euros, the functional company is deemed to be Euros. The Euro/Sterling exchange rate as at 30 September 2022 is €1.1372 (2021 - €1.1411).

Going concern

The company made a loss in the year but have net current assets. The financial statements have been prepared on a going concern basis.

AMG World Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2022

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

AMG World Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2022

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4	Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

AMG World Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2022

5	Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 31 January 2024 was David Wheeler, who signed for and on behalf of Bourner Bullock.

6	Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 0 (2021 - 4).

7

Debtors

	2022 €	2021 €
Trade debtors	108,993	347,147
Prepayments	-	2,407
Other debtors	2,055	158,500
	111,048	508,054

AMG World Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2022

8

Creditors

Creditors: amounts falling due within one year

	2022 €	2021 €
Due within one year
Trade creditors	39,299	24,208
Amounts owed to group undertakings and undertakings in which the company has a participating interest	109,465	257,530
Taxation and social security	-	274,017
Other creditors	11,934	38,322
Total trade and other creditors	160,698	594,077

9

Dividends

Interim dividends paid

		2022 €		2021 €
Interim dividend of Nil per each Ordinary share		-		-

There have been no dividends have been preposed or paid in the year

10	Parent and ultimate parent undertaking

The company's immediate parent is Amaris Energie, incorporated in France.

  These financial statements are available upon request from 113 rue Victor Hugo, 92300, Levallois-Perret, France.

 

AMG World Solutions Limited

Notes to the Financial Statements for the Year Ended 30 September 2022

11	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	€	No.	€
Ordinary shares of £1 each	100	113	100	113