3
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2019-04-01
Sage Accounts Production Advanced 2020 - FRS102_2019
30,800
30,800
227,964
150,100
254,683
537
2,875
125,719
125,719
227,964
xbrli:pure
xbrli:shares
iso4217:GBP
04532620
2019-04-01
2020-03-31
04532620
2020-03-31
04532620
2019-03-31
04532620
2018-04-01
2019-03-31
04532620
2019-03-31
04532620
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-04-01
2020-03-31
04532620
core:PlantMachinery
2019-04-01
2020-03-31
04532620
core:FurnitureFittings
2019-04-01
2020-03-31
04532620
core:MotorVehicles
2019-04-01
2020-03-31
04532620
core:NetGoodwill
2019-04-01
2020-03-31
04532620
bus:Director1
2019-04-01
2020-03-31
04532620
core:NetGoodwill
2020-03-31
04532620
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-03-31
04532620
core:LandBuildings
core:LongLeaseholdAssets
2019-03-31
04532620
core:PlantMachinery
2019-03-31
04532620
core:FurnitureFittings
2019-03-31
04532620
core:MotorVehicles
2019-03-31
04532620
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-03-31
04532620
core:LandBuildings
core:LongLeaseholdAssets
2020-03-31
04532620
core:PlantMachinery
2020-03-31
04532620
core:FurnitureFittings
2020-03-31
04532620
core:MotorVehicles
2020-03-31
04532620
core:WithinOneYear
2020-03-31
04532620
core:WithinOneYear
2019-03-31
04532620
core:ShareCapital
2020-03-31
04532620
core:ShareCapital
2019-03-31
04532620
core:RetainedEarningsAccumulatedLosses
2020-03-31
04532620
core:RetainedEarningsAccumulatedLosses
2019-03-31
04532620
core:LandBuildings
core:LongLeaseholdAssets
2019-04-01
2020-03-31
04532620
core:CostValuation
core:Non-currentFinancialInstruments
2019-03-31
04532620
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2020-03-31
04532620
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2020-03-31
04532620
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2020-03-31
04532620
core:Non-currentFinancialInstruments
core:OtherIncreaseDecreaseInInvestments
2020-03-31
04532620
core:CostValuation
core:Non-currentFinancialInstruments
2020-03-31
04532620
core:Non-currentFinancialInstruments
2020-03-31
04532620
core:Non-currentFinancialInstruments
2019-03-31
04532620
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-03-31
04532620
core:LandBuildings
core:LongLeaseholdAssets
2019-03-31
04532620
core:PlantMachinery
2019-03-31
04532620
core:FurnitureFittings
2019-03-31
04532620
core:MotorVehicles
2019-03-31
04532620
bus:SmallEntities
2019-04-01
2020-03-31
04532620
bus:AuditExemptWithAccountantsReport
2019-04-01
2020-03-31
04532620
bus:FullAccounts
2019-04-01
2020-03-31
04532620
bus:SmallCompaniesRegimeForAccounts
2019-04-01
2020-03-31
04532620
bus:PrivateLimitedCompanyLtd
2019-04-01
2020-03-31
COMPANY REGISTRATION NUMBER:
04532620
AMS Refrigeration Limited
|
|
Filleted Unaudited Financial Statements
|
|
AMS Refrigeration Limited
|
|
Statement of Financial Position
|
|
31 March 2020
Fixed assets
Tangible assets
|
6
|
153,080
|
159,471
|
Investments
|
7
|
125,719
|
227,964
|
|
---------
|
---------
|
|
278,799
|
387,435
|
|
|
|
|
Current assets
Stocks
|
4,200
|
6,635
|
Debtors
|
8
|
209,191
|
20,470
|
Cash at bank and in hand
|
28,527
|
41,626
|
|
---------
|
--------
|
|
241,918
|
68,731
|
|
|
|
|
Creditors: amounts falling due within one year
|
9
|
33,644
|
33,084
|
|
---------
|
--------
|
Net current assets
|
208,274
|
35,647
|
|
---------
|
---------
|
Total assets less current liabilities
|
487,073
|
423,082
|
|
|
|
|
Provisions
|
1,577
|
2,322
|
|
---------
|
---------
|
Net assets
|
485,496
|
420,760
|
|
---------
|
---------
|
|
|
|
Capital and reserves
Called up share capital
|
100
|
100
|
Profit and loss account
|
485,396
|
420,660
|
|
---------
|
---------
|
Shareholders funds
|
485,496
|
420,760
|
|
---------
|
---------
|
|
|
|
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 income and retained earnings has not been delivered.
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
AMS Refrigeration Limited
|
|
Statement of Financial Position (continued)
|
|
31 March 2020
These financial statements were approved by the
board of directors
and authorised for issue on
29 September 2020
, and are signed on behalf of the board by:
Company registration number:
04532620
AMS Refrigeration Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ, Glos.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill
|
-
|
equal instalments over period of the lease
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold Property
|
-
|
2% reducing balance
|
|
Leasehold Property
|
-
|
equal instalments over period of the lease
|
|
Office Equipment
|
-
|
40% reducing balance
|
|
Furniture & Fixtures
|
-
|
25% reducing balance
|
|
Motor Vehicles
|
-
|
25% reducing balance
|
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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 as a finance cost 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
3
(2019:
3
).
5.
Intangible assets
|
Goodwill
|
|
£
|
Cost
|
|
At 1 April 2019 and 31 March 2020
|
30,800
|
|
--------
|
Amortisation
|
|
At 1 April 2019 and 31 March 2020
|
30,800
|
|
--------
|
Carrying amount
|
|
At 31 March 2020
|
–
|
|
--------
|
At 31 March 2019
|
–
|
|
--------
|
|
|
6.
Tangible assets
|
Freehold Property
|
Leasehold Property
|
Office Equipment
|
Furniture and Fixtures
|
Motor Vehicles
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
|
|
At 1 Apr 2019 and 31 Mar 2020
|
189,363
|
30,093
|
1,018
|
2,504
|
21,595
|
244,573
|
|
---------
|
--------
|
-------
|
-------
|
--------
|
---------
|
Depreciation
|
|
|
|
|
|
|
At 1 Apr 2019
|
45,439
|
27,006
|
971
|
2,477
|
9,209
|
85,102
|
Charge for the year
|
2,878
|
390
|
19
|
7
|
3,097
|
6,391
|
|
---------
|
--------
|
-------
|
-------
|
--------
|
---------
|
At 31 Mar 2020
|
48,317
|
27,396
|
990
|
2,484
|
12,306
|
91,493
|
|
---------
|
--------
|
-------
|
-------
|
--------
|
---------
|
Carrying amount
|
|
|
|
|
|
|
At 31 Mar 2020
|
141,046
|
2,697
|
28
|
20
|
9,289
|
153,080
|
|
---------
|
--------
|
-------
|
-------
|
--------
|
---------
|
At 31 Mar 2019
|
143,924
|
3,087
|
47
|
27
|
12,386
|
159,471
|
|
---------
|
--------
|
-------
|
-------
|
--------
|
---------
|
|
|
|
|
|
|
|
7.
Investments
|
Other investments other than loans
|
|
£
|
Cost
|
|
At 1 April 2019
|
227,964
|
Additions
|
150,100
|
Disposals
|
(
254,683)
|
Revaluations
|
(
537)
|
Other movements
|
2,875
|
|
---------
|
At 31 March 2020
|
125,719
|
|
---------
|
Impairment
|
|
At 1 April 2019 and 31 March 2020
|
–
|
|
---------
|
|
|
Carrying amount
|
|
At 31 March 2020
|
125,719
|
|
---------
|
At 31 March 2019
|
227,964
|
|
---------
|
|
|
8.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
14,613
|
17,261
|
Other debtors
|
194,578
|
3,209
|
|
---------
|
--------
|
|
209,191
|
20,470
|
|
---------
|
--------
|
|
|
|
9.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Trade creditors
|
8,746
|
13,095
|
Corporation tax
|
17,060
|
8,298
|
Social security and other taxes
|
6,183
|
8,069
|
Other creditors
|
1,655
|
3,622
|
|
--------
|
--------
|
|
33,644
|
33,084
|
|
--------
|
--------
|
|
|
|
10.
Director's advances, credits and guarantees
There were no material transactions with Directors during the year that were not concluded under normal market conditions. During the year AMS Refrigeration Ltd loaned money to AWS Property Ltd, a connected party by virtue of common directorships. At the balance sheet date £191,621 was owed to AMS Refrigeration Ltd.
11.
Related party transactions
The company was under the control of
Mr A M Street
throughout the current and previous year.