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REGISTERED NUMBER: 09873481 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

AMBASSADOR VENTURES LIMITED

AMBASSADOR VENTURES LIMITED (REGISTERED NUMBER: 09873481)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AMBASSADOR VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: T A O'Leary





REGISTERED OFFICE: 144 Gordon Road
London
SE15 3RP





REGISTERED NUMBER: 09873481 (England and Wales)

AMBASSADOR VENTURES LIMITED (REGISTERED NUMBER: 09873481)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £ £
CURRENT ASSETS
Debtors 4 77,030 72,813
Cash at bank 741 1,967
77,771 74,780
CREDITORS
Amounts falling due within one year 5 58,962 45,963
NET CURRENT ASSETS 18,809 28,817
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,809

28,817

CREDITORS
Amounts falling due after more than one
year

6

18,419

28,479
NET ASSETS 390 338

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 388 336
SHAREHOLDERS' FUNDS 390 338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:




T A O'Leary - Director


AMBASSADOR VENTURES LIMITED (REGISTERED NUMBER: 09873481)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Ambassador Ventures Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09873481 and registered office address is 144 Gordon Road, London, SE15 3RP.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which includes trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.


AMBASSADOR VENTURES LIMITED (REGISTERED NUMBER: 09873481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments (continued)

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and preference shares classed as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

Equity Instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 77,030 72,813

AMBASSADOR VENTURES LIMITED (REGISTERED NUMBER: 09873481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,820 9,581
Trade creditors 20 -
Taxation and social security 268 -
Other creditors 48,854 36,382
58,962 45,963

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 18,419 28,479

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£ £
T A O'Leary
Balance outstanding at start of year (10,025 ) (16,247 )
Amounts advanced - (1,560 )
Amounts repaid 3,143 7,782
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,882 ) (10,025 )

AMBASSADOR VENTURES LIMITED (REGISTERED NUMBER: 09873481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

8. RELATED PARTY DISCLOSURES

Leacroft Services Limited

T O'Leary is a director and shareholder in both companies.

The balance owed from the related party at the year end was £8,000 (2022: £8,000).

Anglo Irish Investments Limited

T O'Leary is a director and shareholder in both companies.

The balance owed from the related party at the year end was £1,000 (2022: £1,000).

Tower Bridge Properties Limited

T O'Leary is a director and shareholder in the company.

The balance owed from the related party at the year end was £9,339 (2022: £).

Cityglen Pub Co Limited

T O'Leary is a director and shareholder in both companies.

Included in Other Creditors is a loan from Cityglen Pub Co Limited of £6,710 (2022: £6,710).


Cityglen Limited

T O'Leary is a director and shareholder in both companies.

Included in Other Creditors is a loan from Cityglen Limited of £20,100 (2022: £).


Hytyme Limited

T O'Leary is a director and shareholder in both companies.

Included in Other Creditors is a loan from Hytyme Limited of £13,600 (2022: £).