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2. |
Summary of Significant Accounting Policies |
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The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements. |
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Statement of compliance |
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The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. |
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Basis of preparation |
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The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets. |
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Turnover |
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Turnover is measured at Fair Value of the consideration received or receivable. Revenue is reduced for estimated customer rebates and other similar allowances.
Turnover arising from the rendering of environmental and consultancy services is recognised upon delivery of these services.
Turnover arising from the sale of goods and equipment is recognised when the legal title over the goods has been transferred.
Turnover arising from membership agreements is recognised over the duration of the membership agreements. |
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Intangible assets |
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Right of Use Machinery |
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Right of Use Machinery are valued at cost less accumulated amortisation. |
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Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 18 months. |
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Right of Use Property |
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Right of Use Property are valued at cost less accumulated amortisation. |
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Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 18 months. |
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Rebranding |
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Rebranding are valued at cost less accumulated amortisation. |
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Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 4 years. |
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Tangible assets and depreciation |
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Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows: |
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Plant and machinery |
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10% Straight line |
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Fixtures and fittings |
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25% Straight line |
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Motor vehicles |
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25% Straight line |
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Computer Equipment |
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25% Straight line |
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The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. |
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Leasing and hire purchases |
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Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account. |
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Leasing |
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Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement. |
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Investments |
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Investments held as fixed assets are stated at fair value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the financial year in which it is receivable. |
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Stocks |
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. |
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Trade and other debtors |
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Trade debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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Trade and other creditors |
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Trade creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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Taxation |
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Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. |
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Foreign currencies |
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Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account. |
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Ordinary share capital |
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The ordinary share capital of the company is presented as equity. |
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Exceptional item |
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Exceptional items are those that the directors' view are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company's financial performance. |
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8.1. |
Holdings in related undertakings |
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The company holds 20% or more of the share capital of the following companies: |
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Country |
Nature |
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Details |
Proportion |
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of |
of |
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of |
held by |
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Name |
incorporation and address of Registered Office |
business |
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investment |
company |
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Subsidiary undertaking |
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Ambipar Response Ltd |
Island Corporate Park, Wallinstown, Little Island, Cork, T45 EW26, Republic of Ireland |
Remediation activities and other waste management services |
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Ordinary |
100 |
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Ambipar Howells Consultancy Ltd |
5th Floor, One New Change, London, EC4M 9AF, United Kingdom |
dormant company |
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Ordinary |
100 |
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The Subsidiary, Ambipar Response Ltd is incorporated in the Republic of Ireland. |
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The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows: |
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Year ended |
Capital and |
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Profit for |
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reserves |
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the year |
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£ |
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£ |
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Ambipar Response Ltd |
31 December 2023 |
130,343 |
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126,965 |
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Ambipar Howells Consultancy Ltd |
31 December 2023 |
(218,239) |
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- |
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In the opinion of the directors, the value to the company of the unlisted investments is not materially less than the book amount shown above. |