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Registered number: 11690565









Amianto Operating Company Limited
(A company limited by guarantee)









Financial statements

Information for filing with the registrar

For the year ended 30 September 2023

 
Amianto Operating Company Limited
 
(A company limited by guarantee)
Registered number: 11690565

Balance Sheet
As at 30 September 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
430
4,497

Cash at bank and in hand
 5 
10,770
11,709

  
11,200
16,206

Creditors: amounts falling due within one year
 6 
(11,200)
(16,206)

Net current assets
  
 
 
-
 
 
-

Total assets less current liabilities
  
-
-

  

Net assets
  
-
-


Capital and reserves
  

  
-
-


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 income and retained earnings 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 Gleave
A O'Keefe
Director
Director


Date: 3 April 2024
Date:3 April 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
Amianto Operating Company Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 30 September 2023

1.


General information

Amianto Operating Company Limited is a private company limited by guarantee and incorporated in England. The address of the registered office and principal place of business is Suite 15F, Manchester International Office Centre, Styal Road, Manchester, M22 5WB. The company's registered number is 11690565.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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 balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 2

 
Amianto Operating Company Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 30 September 2023

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 -5).

Page 3

 
Amianto Operating Company Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 30 September 2023

4.


Debtors

2023
2022
£
£


Amounts owed by other participating interests
430
4,497



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,770
11,709



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
1,880
1,880

Accruals and deferred income
9,320
14,326

11,200
16,206




7.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.


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 £11,864 (2022 - £11,917).  Contributions totalling £1,880 (2022 - £1,880) were payable to the fund at the balance sheet date and are included in creditors.

Page 4

 
Amianto Operating Company Limited

(A company limited by guarantee)
 
 
 
Notes to the Financial Statements
For the year ended 30 September 2023

9.


Commitments under operating leases

At 30 September 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
£


Not later than 1 year
8,500

Later than 1 year and not later than 5 years
30,810

39,310


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2023 was unqualified.

The audit report was signed on 4 April 2024 by Anthony Woodings (senior statutory auditor) on behalf of Hurst Accountants Limited.

 
Page 5