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Registration number: 03695783

Amberalter Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Amberalter Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Amberalter Limited

Company Information
__________________________________________________________________________

Directors

Maria Jose Pigueiras Dominguez

Manuel Otero Eijo

Company secretary

Manuel Otero Eijo

Registered office

Office 3 Anchor Wharehouse
Anchor Quay
Penryn
Cornwall
TR10 8GZ


 

Accountants

Brooks Green
Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Amberalter Limited

(Registration number: 03695783)
Balance Sheet as at 31 December 2023
__________________________________________________________________________

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

3

1,086,363

1,324,832

Tangible assets

4

40,711

45,235

 

1,127,074

1,370,067

Current assets

 

Debtors

5

163,554

228,931

Cash at bank and in hand

 

937,881

995,133

 

1,101,435

1,224,064

Creditors: Amounts falling due within one year

6

(1,501,651)

(1,570,708)

Net current liabilities

 

(400,216)

(346,644)

Net assets

 

726,858

1,023,423

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

725,858

1,022,423

Shareholders' funds

 

726,858

1,023,423

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
Manuel Otero Eijo
Company secretary and director

 

Amberalter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Vessel and equipment

10% RB

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

Amberalter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Licence and quota

18% RB

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Amberalter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

3

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 January 2023

1,970,304

1,970,304

At 31 December 2023

1,970,304

1,970,304

Amortisation

At 1 January 2023

645,472

645,472

Amortisation charge

238,469

238,469

At 31 December 2023

883,941

883,941

Carrying amount

At 31 December 2023

1,086,363

1,086,363

At 31 December 2022

1,324,832

1,324,832

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

1,692,760

1,692,760

At 31 December 2023

1,692,760

1,692,760

Depreciation

At 1 January 2023

1,647,525

1,647,525

Charge for the year

4,524

4,524

At 31 December 2023

1,652,049

1,652,049

Carrying amount

At 31 December 2023

40,711

40,711

At 31 December 2022

45,235

45,235

 

Amberalter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

5

Debtors

Current

2023
£

2022
£

Trade debtors

156,266

212,643

Prepayments

6,302

14,750

Other debtors

986

1,538

 

163,554

228,931

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

306,078

364,971

Accruals and deferred income

1,763

1,763

Other creditors

1,193,810

1,203,974

1,501,651

1,570,708

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share capital of £1 each

1,000

1,000

1,000

1,000