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REGISTERED NUMBER: 07273655 (England and Wales)









AMBER PROPERTY ( SOUTH WEST ) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 JUNE 2024






AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AMBER PROPERTY ( SOUTH WEST ) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 25 JUNE 2024







DIRECTORS: D M Cook
N P Manning





REGISTERED OFFICE: Churchgate House
3 Church Road
Whitchurch
Cardiff
Glamorgan
CF14 2DX





REGISTERED NUMBER: 07273655 (England and Wales)

AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)

BALANCE SHEET
25 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40 47
Investment property 5 2,186,366 2,186,366
2,186,406 2,186,413

CURRENT ASSETS
Stocks 6 756,191 722,027
Debtors 7 1,149 1,393
Cash at bank 9,997 19,553
767,337 742,973
CREDITORS
Amounts falling due within one year 8 876,127 799,778
NET CURRENT LIABILITIES (108,790 ) (56,805 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,077,616

2,129,608

CREDITORS
Amounts falling due after more than one
year

9

(1,471,699

)

(1,515,478

)

PROVISIONS FOR LIABILITIES 11 (112,576 ) (112,576 )
NET ASSETS 493,341 501,554

AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)

BALANCE SHEET - continued
25 JUNE 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 6 6
Non distributable reserves 337,729 337,729
Retained earnings 155,606 163,819
SHAREHOLDERS' FUNDS 493,341 501,554

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 25 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





N P Manning - Director


AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 JUNE 2024

1. STATUTORY INFORMATION

Amber Property ( South West ) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management are required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

(i) Investment Properties - The fair value of investment properties involved the use of professional valuation techniques, which are reviewed annually by management. Where factors that could impact the fair value are identified, appropriate adjustments are made through the income statement.

AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 JUNE 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives:

Computer Equipment - 15% reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investment property
Investment properties are held to generate rental income and capital appreciation. Investment properties are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Investment properties are subsequently remeasured at fair value. An assessment of investment property fair value is performed annually. Any changes in fair value are recognised in the income statement.

Deferred tax is recognised on any fair value changes at the rate that would apply to the sale of the investment property, unless the property has a limited useful life and is held as part of a business model to consume all of the economic benefits associated with it.

Stocks and work-in-progress
Land stock includes undeveloped land and land under development and is initially recorded at cost.

Work in progress is measured at the lower of cost and net realisable value. Cost includes all costs of purchase, costs of conversion and other costs, including site overheads, professional charges and other attributable overheads, incurred in bringing the work in progress to its present state of development. Full provision is made for losses in the year in which the loss is first foreseen.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 JUNE 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event. It is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses rising from impairment are recognised in the profit and loss account in other administration expenses.

AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 JUNE 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised 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 trade and other debtors, loans to related companies 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 JUNE 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 26 June 2023
and 25 June 2024 383
DEPRECIATION
At 26 June 2023 336
Charge for year 7
At 25 June 2024 343
NET BOOK VALUE
At 25 June 2024 40
At 25 June 2023 47

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 26 June 2023
and 25 June 2024 2,186,366
NET BOOK VALUE
At 25 June 2024 2,186,366
At 25 June 2023 2,186,366

The properties are initially recognised at cost which is deemed to be its fair value. The property value is reviewed on an annual basis and subsequently remeasured by the directors.

Fair value at 25 June 2024 is represented by:
£   
Valuation in 2023 450,305
Cost 1,736,061
2,186,366

AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 JUNE 2024

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,736,061 1,736,061

Investment property was valued on an open market basis on 25 June 2024 by the directors .

6. STOCKS
2024 2023
£    £   
Stock of land 235,000 235,000
Work-in-progress 521,191 487,027
756,191 722,027

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,149 1,393

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 63,361 36,761
Trade creditors 329,268 335,854
Taxation and social security 1,592 16,010
Other creditors 481,906 411,153
876,127 799,778

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,471,699 1,515,478

AMBER PROPERTY ( SOUTH WEST ) LIMITED (REGISTERED NUMBER: 07273655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 JUNE 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,525,665 1,552,239

The bank loans are secured by way of fixed charge containing negative pledge.

11. PROVISIONS FOR LIABILITIES

The deferred tax balance of £112,576 (2023 - £112,576) relates to the tax effect on changes in fair value of the investment property.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6 Ordinary £1 6 6

13. TRANSACTIONS WITH DIRECTORS

As at 25 June 2024 the company owed the directors £247,000 (2023 : £202,000) which is included within creditors amounts falling due within one year.

The balance is interest free and repayable on demand.

14. RELATED PARTY DISCLOSURES

During the year the company received services from Beechwood Construction (South West) Limited, a company controlled by the directors. The value of these services were £73,914 (2023 - £613,390). The balance owing to Beechwood Construction (South West) Limited at the period end is £327,252 (2023 - £333,838).

During the year the company received rental income from its investment properties of £110,000 (2023 - £90,000) from Moonstone Letts Limited. Moonstone Letts Limited is a company controlled by the directors.The amount owed to Moonstone Letts Limited at the year end is £192,566 (2023 - £155,366).

15. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party.