REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023 |
FOR |
AMETHYST DESIGNS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023 |
FOR |
AMETHYST DESIGNS LIMITED |
AMETHYST DESIGNS LIMITED (REGISTERED NUMBER: 01602689) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 9 |
AMETHYST DESIGNS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 High Green |
Great Shelford |
Cambridge |
CB22 5EG |
AMETHYST DESIGNS LIMITED (REGISTERED NUMBER: 01602689) |
BALANCE SHEET |
30TH JUNE 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
AMETHYST DESIGNS LIMITED (REGISTERED NUMBER: 01602689) |
BALANCE SHEET - continued |
30TH JUNE 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
AMETHYST DESIGNS LIMITED (REGISTERED NUMBER: 01602689) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2023 |
1. | STATUTORY INFORMATION |
Amethyst Designs Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Goodwill is being amortised evenly over its estimated useful life. |
Tangible fixed assets |
Depreciation is provided in the accounts at monthly amounts to write off the cost of the asset (less residual value) over its anticipated useful life. |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
AMETHYST DESIGNS LIMITED (REGISTERED NUMBER: 01602689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2023 |
2. | ACCOUNTING POLICIES - continued |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st July 2022 |
and 30th June 2023 |
AMORTISATION |
At 1st July 2022 |
Charge for year |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
AMETHYST DESIGNS LIMITED (REGISTERED NUMBER: 01602689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
to |
Short | leasehold | Plant and |
leasehold | prop | machinery |
£ | £ | £ |
COST |
At 1st July 2022 |
Additions |
Disposals |
At 30th June 2023 |
DEPRECIATION |
At 1st July 2022 |
Charge for year |
Eliminated on disposal |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st July 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th June 2023 |
DEPRECIATION |
At 1st July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
AMETHYST DESIGNS LIMITED (REGISTERED NUMBER: 01602689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2023 |
6. | STOCKS |
2023 | 2022 |
£ | £ |
Raw Materials |
Work-in-progress |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 19,906 | 22,773 |
Other creditors |
Directors' current accounts | 60,000 | 125,000 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts |
AMETHYST DESIGNS LIMITED (REGISTERED NUMBER: 01602689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2023 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdrafts |
Bank loans |
Hire purchase contracts | 9,694 | 20,270 |
Barclays Bank plc holds a fixed and floating charge dated 24th January 2008 over all assets of the company. |
The Barclays loan of £50,000 was advanced in June 2020. There were no repayments or interest to pay in the first 12 months. After 12 months the interest rate charged was 2.5% a year and the loan repayments are approx £900 per month for 60 months. Repayments began in July 2021. |
The hire purchase liability is the amount outstanding on a contract taken out in June 2022. £21,151 was advanced for the purchase of a company van. The repayments of £966.45 per month will be paid in 24 months commencing June 2022. |
11. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 33,244 | 24,597 |
Deferred |
tax |
£ |
Balance at 1st July 2022 |
Accelerated capital allowances | 8,647 |
Balance at 30th June 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1,600 | 1,600 |
13. | OTHER FINANCIAL COMMITMENTS |
The company has a ten and a half year lease for the Unit 47/48 Viking Way, Bar Hill, Cambridge up to 30th September 2031. The rent is currently £82,439 per annum and the next review date is 1st October 2026. |
The company is leasing two motor vehicles for the directors as follows: |
Kia Niro EV AK72EWY, after initial payments, the monthly lease payments are £531.60 (exc. VAT) for 35 months from 11/02/023 and, |
Tesla model 3 Saloon Electric LB22UJH, after initial payments, the monthly lease payments are £637.77 (exc. VAT) for 47 months from 22/08/2022. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
AMETHYST DESIGNS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Amethyst Designs Limited for the year ended 30th June 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Amethyst Designs Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Amethyst Designs Limited and state those matters that we have agreed to state to the Board of Directors of Amethyst Designs Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amethyst Designs Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Amethyst Designs Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Amethyst Designs Limited. You consider that Amethyst Designs Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Amethyst Designs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
5 High Green |
Great Shelford |
Cambridge |
CB22 5EG |