Ambar Kelly Limited 04754126 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is manufacturing metal structures and parts. Digita Accounts Production Advanced 6.30.9574.0 true true 04754126 2022-06-01 2023-05-31 04754126 2023-05-31 04754126 bus:OrdinaryShareClass1 2023-05-31 04754126 core:CurrentFinancialInstruments 2023-05-31 04754126 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 04754126 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 04754126 core:PatentsTrademarksLicencesConcessionsSimilar 2023-05-31 04754126 core:ConstructionInProgressAssetsUnderConstruction 2023-05-31 04754126 core:FurnitureFittingsToolsEquipment 2023-05-31 04754126 core:LandBuildings 2023-05-31 04754126 core:MotorVehicles 2023-05-31 04754126 core:OtherPropertyPlantEquipment 2023-05-31 04754126 bus:SmallEntities 2022-06-01 2023-05-31 04754126 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 04754126 bus:FullAccounts 2022-06-01 2023-05-31 04754126 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 04754126 bus:RegisteredOffice 2022-06-01 2023-05-31 04754126 bus:ChiefExecutive 2022-06-01 2023-05-31 04754126 bus:Director1 2022-06-01 2023-05-31 04754126 bus:Director3 2022-06-01 2023-05-31 04754126 bus:Director4 2022-06-01 2023-05-31 04754126 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 04754126 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 04754126 core:PatentsTrademarksLicencesConcessionsSimilar 2022-06-01 2023-05-31 04754126 core:Aircraft 2022-06-01 2023-05-31 04754126 core:ComputerEquipment 2022-06-01 2023-05-31 04754126 core:ConstructionInProgressAssetsUnderConstruction 2022-06-01 2023-05-31 04754126 core:FurnitureFittings 2022-06-01 2023-05-31 04754126 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 04754126 core:LandBuildings 2022-06-01 2023-05-31 04754126 core:LeaseholdImprovements 2022-06-01 2023-05-31 04754126 core:MotorVehicles 2022-06-01 2023-05-31 04754126 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 04754126 core:PlantMachinery 2022-06-01 2023-05-31 04754126 countries:EnglandWales 2022-06-01 2023-05-31 04754126 2022-05-31 04754126 core:PatentsTrademarksLicencesConcessionsSimilar 2022-05-31 04754126 core:ConstructionInProgressAssetsUnderConstruction 2022-05-31 04754126 core:FurnitureFittingsToolsEquipment 2022-05-31 04754126 core:LandBuildings 2022-05-31 04754126 core:MotorVehicles 2022-05-31 04754126 core:OtherPropertyPlantEquipment 2022-05-31 04754126 2021-06-01 2022-05-31 04754126 2022-05-31 04754126 bus:OrdinaryShareClass1 2022-05-31 04754126 core:CurrentFinancialInstruments 2022-05-31 04754126 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 04754126 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 04754126 core:PatentsTrademarksLicencesConcessionsSimilar 2022-05-31 04754126 core:ConstructionInProgressAssetsUnderConstruction 2022-05-31 04754126 core:FurnitureFittingsToolsEquipment 2022-05-31 04754126 core:LandBuildings 2022-05-31 04754126 core:MotorVehicles 2022-05-31 04754126 core:OtherPropertyPlantEquipment 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04754126

Ambar Kelly Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Ambar Kelly Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Ambar Kelly Limited

Company Information

Chief executive

A M Bardett

Directors

A B Davidson

N I Atkinson

C Kendall

Registered office

Unit 4a
Bridgefields
WELWYN GARDEN CITY
Hertfordshire
AL7 1RX

Accountants

Holmes Peat Thorpe
Chartered Accountants
Basepoint Business Centre
110 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

 

Ambar Kelly Limited

(Registration number: 04754126)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

18,161

21,188

Tangible assets

5

194,316

246,475

 

212,477

267,663

Current assets

 

Stocks

123,596

379,556

Debtors

576,904

589,250

Cash at bank and in hand

 

683,568

681,281

 

1,384,068

1,650,087

Creditors: Amounts falling due within one year

6

(596,693)

(800,679)

Net current assets

 

787,375

849,408

Total assets less current liabilities

 

999,852

1,117,071

Creditors: Amounts falling due after more than one year

6

(55,482)

(154,167)

Provisions for liabilities

(13,875)

(17,012)

Net assets

 

930,495

945,892

Capital and reserves

 

Called up share capital

7

111

111

Retained earnings

930,384

945,781

Shareholders' funds

 

930,495

945,892

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Ambar Kelly Limited

(Registration number: 04754126)
Balance Sheet as at 31 May 2023

Approved and authorised by the Board on 16 February 2024 and signed on its behalf by:
 

.........................................
A M Bardett
Chief executive

   
     
 

Ambar Kelly Limited

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

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:
Unit 4a
Bridgefields
WELWYN GARDEN CITY
Hertfordshire
AL7 1RX

These financial statements were authorised for issue by the Board on 16 February 2024.

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.

Basis of preparation

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements were 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, specific criteria have been met for each of the company's activities and legal title has passed.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting date.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

 

Ambar Kelly Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position 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

25% on reducing balance

Computer equipment

33% on cost

Fixtures and fittings

25% on reducing balance

Motor vehicles

25% on reducing balance

Airplane

18% on cost

Leasehold improvements

20% on cost

Intangible assets

Separately acquired patents, trademarks and licences are shown at historical cost. Patents, trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date. Patents, trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

10% on cost

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Ambar Kelly Limited

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

Trade 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Operating lease incentives for lessees shall be recognised over the term of the lease on a straight line basis unless another systematic basis is more representative of the time pattern of the benefit receivable/received from the use of the asset.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of staff employed by the company (including directors) during the year, was 27 (2022:28).

 

Ambar Kelly Limited

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

4

Intangible assets

Patents
 £

Total
£

Cost or valuation

At 1 June 2022

34,450

34,450

At 31 May 2023

34,450

34,450

Amortisation

At 1 June 2022

13,262

13,262

Amortisation charge

3,027

3,027

At 31 May 2023

16,289

16,289

Carrying amount

At 31 May 2023

18,161

18,161

At 31 May 2022

21,188

21,188

 

Ambar Kelly Limited

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

5

Tangible assets

Leasehold improvements
£

Fixtures and fittings
£

Motor vehicles and aircraft
£

Computer equipment
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 June 2022

27,880

10,265

201,487

23,916

526,143

789,691

Additions

-

2,614

-

3,802

16,401

22,817

Disposals

-

-

-

-

(4,800)

(4,800)

At 31 May 2023

27,880

12,879

201,487

27,718

537,744

807,708

Depreciation

At 1 June 2022

19,351

8,245

160,092

17,254

338,274

543,216

Charge for the year

5,577

1,160

10,349

5,963

50,788

73,837

Eliminated on disposal

-

-

-

-

(3,661)

(3,661)

At 31 May 2023

24,928

9,405

170,441

23,217

385,401

613,392

Carrying amount

At 31 May 2023

2,952

3,474

31,046

4,501

152,343

194,316

At 31 May 2022

8,529

2,020

41,395

6,662

187,869

246,475

 

Ambar Kelly Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

326,283

370,145

Trade creditors

 

114,514

230,904

Taxation and social security

 

64,360

56,134

Other creditors

 

91,536

143,496

 

596,693

800,679

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

55,482

154,167

 

Ambar Kelly Limited

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

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

111

111

111

111