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REGISTERED NUMBER: 05430905 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

AMBAC LIMITED

AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AMBAC LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTOR: A Bramhall



SECRETARY: Mrs M Bramhall



REGISTERED OFFICE: Astley Park Estate Kennedy Road
Chaddock Lane Astley
Tyldesley
Manchester
M29 7JY



REGISTERED NUMBER: 05430905 (England and Wales)



ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Royal Bank of Scotland
1 Bridgewater Street
Walkden
Worsley
Manchester
M28 6AE

AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,015 25,849

CURRENT ASSETS
Stocks 2,320 2,243
Debtors 5 26,930 34,382
Cash at bank 72,428 84,284
101,678 120,909
CREDITORS
Amounts falling due within one year 6 66,744 79,967
NET CURRENT ASSETS 34,934 40,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,949

66,791

CREDITORS
Amounts falling due after more than one
year

7

62,946

32,511
NET ASSETS 27,003 34,280

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 27,001 34,278
SHAREHOLDERS' FUNDS 27,003 34,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 January 2025 and were signed by:




A Bramhall - Director


AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

AMBAC Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Turnover
Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially recorded at cost.

Stocks
Stock and work in progress is valued at the lower of cost and estimated net realisable value after making allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 988 2,588 45,100 48,676
Additions - - 72,811 72,811
Disposals - - (45,100 ) (45,100 )
At 30 April 2024 988 2,588 72,811 76,387
DEPRECIATION
At 1 May 2023 918 2,178 19,731 22,827
Charge for year 11 62 18,203 18,276
Eliminated on disposal - - (19,731 ) (19,731 )
At 30 April 2024 929 2,240 18,203 21,372
NET BOOK VALUE
At 30 April 2024 59 348 54,608 55,015
At 30 April 2023 70 410 25,369 25,849

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 45,100
Additions 72,811
Disposals (45,100 )
At 30 April 2024 72,811
DEPRECIATION
At 1 May 2023 19,731
Charge for year 18,203
Eliminated on disposal (19,731 )
At 30 April 2024 18,203
NET BOOK VALUE
At 30 April 2024 54,608
At 30 April 2023 25,369

5. DEBTORS
30.4.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors - 11,000
Other debtors 23,138 16,090
23,138 27,090

AMBAC LIMITED (REGISTERED NUMBER: 05430905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. DEBTORS - continued
30.4.24 30.4.23
£    £   
Amounts falling due after more than one year:
Other debtors 3,792 7,292

Aggregate amounts 26,930 34,382

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts (see note 8) 8,870 5,985
Trade creditors 1,817 1,744
Taxation and social security 776 1,403
Other creditors 47,281 62,835
66,744 79,967

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 15,879 23,706
Hire purchase contracts (see note 8) 47,067 8,805
62,946 32,511

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 8,870 5,985
Between one and five years 47,067 8,805
55,937 14,790

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year - 983

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs Bramhall, the shareholders of the company.