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REGISTERED NUMBER: 05430905 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

AMBAC LIMITED

AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AMBAC LIMITED

Company Information
for the Year Ended 30 April 2023







DIRECTOR: A Bramhall



SECRETARY: Mrs M Bramhall



REGISTERED OFFICE: Astley Park Estate Kennedy Road
Chaddock Lane Astley
Tyldesley
Manchester
M29 7JY



REGISTERED NUMBER: 05430905 (England and Wales)



ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Royal Bank of Scotland
1 Bridgewater Street
Walkden
Worsley
Manchester
M28 6AE

AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,849 34,389

CURRENT ASSETS
Stocks 2,243 2,350
Debtors 5 34,382 50,793
Cash at bank 84,284 85,393
120,909 138,536
CREDITORS
Amounts falling due within one year 6 79,967 96,001
NET CURRENT ASSETS 40,942 42,535
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,791

76,924

CREDITORS
Amounts falling due after more than one
year

7

32,511

46,122
NET ASSETS 34,280 30,802

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 34,278 30,800
SHAREHOLDERS' FUNDS 34,280 30,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 6 November 2023 and were signed by:




A Bramhall - Director


AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

AMBAC 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 accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially recorded at cost.

Stocks
Stock and work in progress is valued at the lower of cost and estimated net realisable value after making allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2022
and 30 April 2023 988 2,588 45,100 48,676
DEPRECIATION
At 1 May 2022 906 2,106 11,275 14,287
Charge for year 12 72 8,456 8,540
At 30 April 2023 918 2,178 19,731 22,827
NET BOOK VALUE
At 30 April 2023 70 410 25,369 25,849
At 30 April 2022 82 482 33,825 34,389

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2022
and 30 April 2023 45,100
DEPRECIATION
At 1 May 2022 11,275
Charge for year 8,456
At 30 April 2023 19,731
NET BOOK VALUE
At 30 April 2023 25,369
At 30 April 2022 33,825

5. DEBTORS
30.4.23 30.4.22
£    £   
Amounts falling due within one year:
Trade debtors 11,000 20,057
Other debtors 16,090 20,236
27,090 40,293

Amounts falling due after more than one year:
Other debtors 7,292 10,500

Aggregate amounts 34,382 50,793

AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts (see note 8) 5,985 5,985
Trade creditors 1,744 2,268
Taxation and social security 1,403 607
Other creditors 62,835 79,141
79,967 96,001

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans 23,706 31,333
Hire purchase contracts (see note 8) 8,805 14,789
32,511 46,122

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.23 30.4.22
£    £   
Net obligations repayable:
Within one year 5,985 5,985
Between one and five years 8,805 14,789
14,790 20,774

Non-cancellable operating leases
30.4.23 30.4.22
£    £   
Within one year 983 3,931
Between one and five years - 983
983 4,914

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs Bramhall, the shareholders of the company.