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REGISTERED NUMBER: SC093054 (Scotland)



















AMBER HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023






AMBER HOLDINGS LIMITED (REGISTERED NUMBER: SC093054)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AMBER HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Pun Wai Chung
Mrs Christina Sur Wang Wager
Mrs Angelina Hogg





REGISTERED OFFICE: 50 West Regent Street
Glasgow
G2 2RA





REGISTERED NUMBER: SC093054 (Scotland)





ACCOUNTANTS: Whitelaw Wells
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP

AMBER HOLDINGS LIMITED (REGISTERED NUMBER: SC093054)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 1,000,000 1,000,000

CURRENT ASSETS
Debtors 4 3,548 -
Cash at bank 307,190 299,709
310,738 299,709
CREDITORS
Amounts falling due within one year 5 63,674 89,934
NET CURRENT ASSETS 247,064 209,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,247,064

1,209,775

PROVISIONS FOR LIABILITIES 27,041 20,551
NET ASSETS 1,220,023 1,189,224

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 81,124 87,614
Retained earnings 7 1,138,799 1,101,510
1,220,023 1,189,224

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

AMBER HOLDINGS LIMITED (REGISTERED NUMBER: SC093054)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





Mrs Christina Sur Wang Wager - Director


AMBER HOLDINGS LIMITED (REGISTERED NUMBER: SC093054)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. 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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents the value of rental income receivable for the year, exclusive of Value Added Tax. Income is recognised on the basis on rental due for the year.

Investment property
Investment properties are shown at their fair value. The surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market is not considered to be permanent.

This is in accordance with FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve together with the fair value movement.

Financial instruments
Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.


AMBER HOLDINGS LIMITED (REGISTERED NUMBER: SC093054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


1. ACCOUNTING POLICIES - continued
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.

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.

2. EMPLOYEES AND DIRECTORS

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

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,000,000
NET BOOK VALUE
At 31 December 2023 1,000,000
At 31 December 2022 1,000,000

The property was revalued by the director at 31 December 2023.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 108,165
Cost 891,835
1,000,000

AMBER HOLDINGS LIMITED (REGISTERED NUMBER: SC093054)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Related Company Loan 3,548 -

The loan to related company is interest free and repayable on demand.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation Tax 12,058 11,018
VAT 3,333 3,333
Directors' current accounts 44,725 71,780
Accrued expenses 3,558 3,803
63,674 89,934

The loan from directors is interest free and repayable on demand.

6. SECURED DEBTS

The bank holds a standard security and a bond and floating charge over the company's assets.

7. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2023 1,101,510 87,614 1,189,124
Profit for the year 30,799 30,799
Revaluation surplus 6,490 (6,490 ) -
At 31 December 2023 1,138,799 81,124 1,219,923

8. RELATED PARTY DISCLOSURES

The loan balance due to the directors amounted to £44,725 (2022: £71,780) at the year end.