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COMPANY REGISTRATION NUMBER: 2034774
AMBERDEAL LIMITED
Filleted Unaudited Financial Statements
31 October 2023
AMBERDEAL LIMITED
Financial Statements
Year ended 31st October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
AMBERDEAL LIMITED
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
1,887,438
1,816,483
Current assets
Stocks
935,875
636,725
Debtors
7
376,265
408,565
Cash at bank and in hand
583,446
1,204,680
------------
------------
1,895,586
2,249,970
Creditors: amounts falling due within one year
8
459,804
637,092
------------
------------
Net current assets
1,435,782
1,612,878
------------
------------
Total assets less current liabilities
3,323,220
3,429,361
Creditors: amounts falling due after more than one year
9
73,337
113,337
Provisions
Taxation including deferred tax
436,417
340,837
------------
------------
Net assets
2,813,466
2,975,187
------------
------------
Capital and reserves
Called up share capital
500
500
Profit and loss account
2,812,966
2,974,687
------------
------------
Shareholder funds
2,813,466
2,975,187
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AMBERDEAL LIMITED
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 24 April 2024 , and are signed on behalf of the board by:
R. Packun
Director
Company registration number: 2034774
AMBERDEAL LIMITED
Notes to the Financial Statements
Year ended 31st October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alex House, 260/268 Chapel Street, Salford, Manchester, M3 5JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold land and buildings
-
2% straight line
Plant and machinery
-
25% reducing balance
Fixtures, fittings and equipment
-
25% reducing balance
Commercial vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
The company operates a defined contribution pension scheme for the directors. The assets of the pension scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 49 (2022: 48 ).
5. Intangible assets
Goodwill
£
Cost
At 1st November 2022 and 31st October 2023
12,001
--------
Amortisation
At 1st November 2022 and 31st October 2023
12,001
--------
Carrying amount
At 31st October 2023
--------
At 31st October 2022
--------
6. Tangible assets
Plant and machinery
Fixtures, fittings and equipment
Commercial vehicles
Total
£
£
£
£
Cost
At 1st November 2022
2,206,773
333,695
910,091
3,450,559
Additions
489,027
47,670
146,712
683,409
Disposals
( 234,200)
( 8,895)
( 74,210)
( 317,305)
------------
---------
---------
------------
At 31st October 2023
2,461,600
372,470
982,593
3,816,663
------------
---------
---------
------------
Depreciation
At 1st November 2022
1,107,388
233,589
293,099
1,634,076
Charge for the year
309,262
30,676
160,362
500,300
Disposals
( 175,271)
( 6,990)
( 22,890)
( 205,151)
------------
---------
---------
------------
At 31st October 2023
1,241,379
257,275
430,571
1,929,225
------------
---------
---------
------------
Carrying amount
At 31st October 2023
1,220,221
115,195
552,022
1,887,438
------------
---------
---------
------------
At 31st October 2022
1,099,385
100,106
616,992
1,816,483
------------
---------
---------
------------
7. Debtors
2023
2022
£
£
Trade debtors
280,995
337,096
Other debtors
95,270
71,469
---------
---------
376,265
408,565
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
39,996
39,996
Trade creditors
63,794
85,014
Social security and other taxes
224,600
369,757
Other creditors
131,414
142,325
---------
---------
459,804
637,092
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
73,337
113,337
--------
---------
10. Related party transactions
At 31 October 2023 the company owed £56 (2022: £51,312) to the directors. No interest has been charged to the company in respect of the loan which is repayable on demand and classified under creditors falling due within one year.
11. Controlling party
The company is a wholly owned subsidiary of Autosave Holdings Limited , a company incorporated in England and Wales. Copies of the ultimate parent company's financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.