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Registration number: 07413977

H. Ambler & Sons Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

H. Ambler & Sons Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

H. Ambler & Sons Limited

(Registration number: 07413977)
Balance Sheet as at 31 January 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

92,450

 

70,462

Current assets

   

 

Debtors

5

24,062

 

61,971

 

Cash at bank and in hand

 

27,266

 

32,728

 

 

51,328

 

94,699

 

Creditors: Amounts falling due within one year

6

(148,864)

 

(194,605)

 

Net current liabilities

   

(97,536)

 

(99,906)

Total assets less current liabilities

   

(5,086)

 

(29,444)

Creditors: Amounts falling due after more than one year

6

 

(68,508)

 

(29,697)

Net liabilities

   

(73,594)

 

(59,141)

Capital and reserves

   

 

Called up share capital

7

100

 

100

 

Profit and loss account

(73,694)

 

(59,241)

 

Total equity

   

(73,594)

 

(59,141)

For the financial year ending 31 January 2023 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 October 2023
 

.........................................
J A Robertshaw
Director

 

H. Ambler & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
Keelham Hall Farm
Thornton
Bradford
BD13 3SS

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A 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 company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned.

Going concern

The financial statements have been prepared on a going concern basis as the director is confident that the Company will be able to pay its liabilities as they fall due over the next 12 month period from the approval date of these accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the generation of electricity in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the services provided; the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Tax

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

The current corporation 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.

 

H. Ambler & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

4 to 10 years straight line

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.

Financial instruments


Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

H. Ambler & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

4

Tangible assets

Plant and machinery
 £

Cost or valuation

At 1 February 2022

292,564

Additions

55,000

At 31 January 2023

347,564

Depreciation

At 1 February 2022

222,102

Charge for the period

33,012

At 31 January 2023

255,114

Carrying amount

At 31 January 2023

92,450

At 31 January 2022

70,462

5

Debtors

Current

2023
£

2022
£

Trade debtors

1,429

-

Prepayments and accrued income

18,756

44,196

Other debtors

3,877

17,775

 

24,062

61,971

6

Creditors

2023
£

2022
£

Due within one year

Loans and borrowings

71,261

92,908

Trade creditors

7,943

318

Amounts owed to group undertakings

55,942

85,986

Taxation and social security

11,668

13,368

Accruals and deferred income

2,050

2,025

148,864

194,605

Bank loans of £8,716 (2022 - £nil) are secured by a guarantee given by Robertshaw's Farm Shop Limited and a personal guarantee given by James Robertshaw.

 

H. Ambler & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

2023
£

2022
£

Due after one year

Loans and borrowings

68,508

29,697

Bank loans of £44,894 (2022 - £nil) are secured by a guarantee given by Robertshaw's Farm Shop Limited and a personal guarantee given by James Robertshaw.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Related party transactions

Other transactions with the director

The director has given a personal guarantee of £55,000 to National Westminster Banl Plc for bank loans and borrowings.

Expenditure with and payables to related parties

2023

£

Interest free directors loan account

55,470

2022

£

Interest free directors loan account

86,225