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Registered Number: 07729670
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 December 2023

for

AMPROV TRADING LTD

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 December 2023.

We have prepared these finance statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.



....................................................
MBS Accountants
Unit 3 Tuffley Park
Lower Tuffley Lane
Gloucester
GL2 5DE
25 September 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 111,468    144,133 
Tangible fixed assets 4 37,236    534 
148,704    144,667 
Current assets      
Stocks   10,000 
Debtors 442,644    176,572 
Cash at bank and in hand 87    23,654 
442,731    210,226 
Creditors: amount falling due within one year (230,289)   (142,891)
Net current assets 212,442    67,335 
 
Total assets less current liabilities 361,146    212,002 
Creditors: amount falling due after more than one year (37,841)   (19,333)
Provisions for liabilities   (101)
Net assets 323,305    192,568 
 

Capital and reserves
     
Called up share capital 5 1    1 
Profit and loss account 323,304    192,567 
Shareholders' funds 323,305    192,568 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 25 September 2024 and were signed on its behalf by:


-------------------------------
Aaron Michael Providence
Director
2
General Information
Amprov Trading Ltd is a private company, limited by shares, registered in England and Wales, registration number 07729670, registration address 401 Stonehouse Business Park, Sperry Way, Stonehouse, Gloucestershire, GL10 3UT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 30% Reducing Balance
Computer Equipment 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Intangible fixed assets

Cost Digital Assets   Total
  £   £
At 01 January 2023 144,133    144,133 
Additions  
Disposals (80,452)   (80,452)
Revaluations 47,787    47,787 
At 31 December 2023 111,468    111,468 
Net book values
At 31 December 2023 111,468    111,468 
At 31 December 2022 144,133    144,133 

Digital Assets
Amprov Trading Limited accounts for its digital assets as intangible assets, which are initially recorded at cost.  Subsequently, they are measured at cost, less subsequent amortisation and impairment losses. Since the management is unable to assign a reliable economic useful life of the digitals assets, they are amortised using the maximum amortisation period of 10 years.
In financial year 2023, there were disposals of £80,452 the total purchase price of all cryptocurrencies purchased by Amprov Trading Limited to £310,670. As at 31 December 2023, the carrying value of Amprov Trading Ltd's digital assets was £111,468, which reflects a cumulative impairment charges of £199,202 since acquisition. Impairment losses are recognised as "Impairment Losses (Intangible FA)" in Amprov Trading Limited's Income Statement.

4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 January 2023 443      1,732    2,175 
Additions   46,090      46,090 
Disposals      
At 31 December 2023 443    46,090    1,732    48,265 
Depreciation
At 01 January 2023 443      1,198    1,641 
Charge for year   9,218    170    9,388 
On disposals      
At 31 December 2023 443    9,218    1,368    11,029 
Net book values
Closing balance as at 31 December 2023   36,872    364    37,236 
Opening balance as at 01 January 2023     534    534 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000,000 Class A shares of £0.000001 each  
 

3