Company registration number 13039205 (England and Wales)
ANBOISE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ANBOISE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
4 - 8
ANBOISE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,403
2,127
Current assets
Stocks
77,866
56,898
Debtors
4
7,777
10,344
Cash at bank and in hand
27,747
48,555
113,390
115,797
Creditors: amounts falling due within one year
5
(9,139)
(5,727)
Net current assets
104,251
110,070
Total assets less current liabilities
108,654
112,197
Creditors: amounts falling due after more than one year
6
(339,000)
(269,000)
Net liabilities
(230,346)
(156,803)
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
(231,346)
(157,803)
Total equity
(230,346)
(156,803)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ANBOISE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 March 2024 and are signed on its behalf by:
C B Ramsay
A M Everard
Director
Director
Company Registration No. 13039205
ANBOISE LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
As restated for the period ended 31 December 2022:
Balance at 1 January 2022
1,000
(40,567)
(39,567)
Effect of change in accounting policy
-
(8,871)
(8,871)
As restated
1,000
(49,438)
(48,438)
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
(108,365)
(108,365)
Balance at 31 December 2022
1,000
(157,803)
(156,803)
Year ended 31 December 2023:
Loss and total comprehensive income for the year
-
(73,543)
(73,543)
Balance at 31 December 2023
1,000
(231,346)
(230,346)
ANBOISE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information
Anboise Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Langham Hall, Langham, Bury St Edmunds, Suffolk, United Kingdom, IP31 3EF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company has made a trading loss in the current year and at the year end was in a net liability position. The company meets its day to day working capital requirements from funding from the director. The director will continue to support the company and having considered a period of at least twelve months from the date on which these financial statements have been signed, believes it appropriate to prepare the financial statements on a going concern basis. true
This assessment of going concern takes into account the current inflationary pressures impacting on costs.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover arising from the retailing of luxury home interiors is recognised when the significant risks and rewards of ownersip have passed to the buyer. Turnover arising from the provision of services recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% straight line
Computers
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
ANBOISE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
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 of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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 include debtors and cash and bank balances, 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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 creditors, bank loans, loans from fellow group companies and preference shares that are classified 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
ANBOISE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
3,069
Additions
3,338
At 31 December 2023
6,407
Depreciation and impairment
At 1 January 2023
942
Depreciation charged in the year
1,062
At 31 December 2023
2,004
Carrying amount
At 31 December 2023
4,403
At 31 December 2022
2,127
ANBOISE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1
Other debtors
7,776
10,344
7,777
10,344
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
7,079
5,101
Other creditors
2,060
626
9,139
5,727
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings
339,000
269,000
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
100,000
100,000
1,000
1,000
8
Parent company
The company is a wholly owned subsidiary of Fortingall Ventures Ltd (formerly Dynamo Holdings Ltd), a company registered in England. The parent company's registered office is Langham Hall, Bury St Edmunds, Suffolk, IP31 3EF.
9
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Dec 2022
£
£
£
Current assets
Debtors due within one year
31,427
(21,083)
10,344
Capital and reserves
Profit and loss reserves
(136,720)
(21,083)
(157,803)
ANBOISE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
9
Prior period adjustment
(Continued)
- 8 -
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 December 2022
£
£
£
Taxation
12,212
(12,212)
Loss for the financial period
(96,153)
(12,212)
(108,365)
Reconciliation of changes in equity
1 January
31 December
2022
2022
Notes
£
£
Adjustments to prior year
Removal of deferred tax asset incorretly recognised
(i)
-
(21,083)
Equity as previously reported
(39,567)
(135,720)
Equity as adjusted
(39,567)
(156,803)
Analysis of the effect upon equity
Profit and loss reserves
-
(21,083)
Reconciliation of changes in loss for the previous financial period
2022
Notes
£
Adjustments to prior year
Removal of deferred tax asset incorretly recognised
(i)
(12,212)
Loss as previously reported
(96,153)
Loss as adjusted
(108,365)
Notes to reconciliation
(i)
A deferred tax asset was incorretcly recognised in previous accounting periods.