Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3152022-04-01falseThe principal activity of the Company continued to be that of trading in non-ferrous metals.5truetrue 03385816 2022-04-01 2023-03-31 03385816 2021-04-01 2022-03-31 03385816 2023-03-31 03385816 2022-03-31 03385816 c:Director1 2022-04-01 2023-03-31 03385816 d:FurnitureFittings 2022-04-01 2023-03-31 03385816 d:FurnitureFittings 2023-03-31 03385816 d:FurnitureFittings 2022-03-31 03385816 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03385816 d:ComputerEquipment 2022-04-01 2023-03-31 03385816 d:CurrentFinancialInstruments 2023-03-31 03385816 d:CurrentFinancialInstruments 2022-03-31 03385816 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03385816 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03385816 d:ShareCapital 2023-03-31 03385816 d:ShareCapital 2022-03-31 03385816 d:RetainedEarningsAccumulatedLosses 2023-03-31 03385816 d:RetainedEarningsAccumulatedLosses 2022-03-31 03385816 c:OrdinaryShareClass1 2022-04-01 2023-03-31 03385816 c:OrdinaryShareClass1 2023-03-31 03385816 c:FRS102 2022-04-01 2023-03-31 03385816 c:Audited 2022-04-01 2023-03-31 03385816 c:FullAccounts 2022-04-01 2023-03-31 03385816 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03385816 c:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03385816














AMBRO LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 MARCH 2023

 
AMBRO LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 6


 
AMBRO LIMITED
REGISTERED NUMBER:03385816

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,151
5,046

Current assets
  

Debtors: amounts falling due within one year
 5 
391,977
792,931

Bank and cash balances
  
2,233,214
1,253,274

  
2,625,191
2,046,205

  

Creditors: amounts falling due within one year
 6 
(1,595,125)
(1,097,949)

Net current assets
  
 
 
1,030,066
 
 
948,256

  

Net assets
  
1,032,217
953,302


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
1,032,117
953,202

  
1,032,217
953,302


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J V Spangler
Director

Date: 13 November 2023

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
AMBRO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Ambro Limited is a limited liability company incorporated in England and Wales with it registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.

The principal activity of the company continued to be that of trading in non-ferrous metals.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Revenue is recognised at the date of trade.
Revenue from consultancy fees is recognised in the period of which it relates.

 
2.4

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 2

 
AMBRO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

Page 3

 
AMBRO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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 ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2021 - 5).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2022
10,285


Additions
1,908


Disposals
(9,496)



At 31 March 2023

2,697



Depreciation


At 1 April 2022
5,239


Charge for the year on owned assets
1,536


Disposals
(6,229)



At 31 March 2023

546



Net book value



At 31 March 2023
2,151



At 31 March 2022
5,046


5.


Debtors

2023
2022
£
£


Trade debtors
378,991
286,485

Amounts owed by group undertakings
3,776
2,000

Other debtors
-
492,836
Page 4

 
AMBRO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.Debtors (continued)


Prepayments and accrued income
9,210
11,610

391,977
792,931



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,373
3,557

Amounts owed to group undertakings
1,435,101
842,773

Taxation and social security
49,900
89,980

Other creditors
97,889
152,824

Accruals and deferred income
8,862
8,815

1,595,125
1,097,949



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares shares of £1 each
100
100



8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £17,346 (2022 - £15,708). 


9.


Related party transactions

The company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


10.


Controlling party

The parent company is Xenmet SA, a company registered in Liechtenstein.
There is no one ultimate controlling party.

Page 5

 
AMBRO LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2023 was unqualified.

The audit report was signed on 13 November 2023 by Hazel Young (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 6