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Registered number: 11879335
Amber Autos (Alfreton) Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Director Mr Russel Montgomery
Secretary Miss Helen Dodd
Company Number 11879335
Registered Office Unit 6a Monk Road
Alfreton
DE55 7RL
Accountants Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Page 1
Page 2
Statement of Financial Position
Registered number: 11879335
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 1,000
Tangible Assets 5 37,177 67,468
37,177 68,468
CURRENT ASSETS
Stocks 6 8,927 9,205
Debtors 7 33,811 20,845
Cash at bank and in hand 23,580 12,166
66,318 42,216
Creditors: Amounts Falling Due Within One Year 8 (191,074 ) (202,366 )
NET CURRENT ASSETS (LIABILITIES) (124,756 ) (160,150 )
TOTAL ASSETS LESS CURRENT LIABILITIES (87,579 ) (91,682 )
Creditors: Amounts Falling Due After More Than One Year 9 (35,365 ) (45,448 )
NET LIABILITIES (122,944 ) (137,130 )
CAPITAL AND RESERVES
Called up share capital 11 1 1
Income Statement (122,945 ) (137,131 )
SHAREHOLDERS' FUNDS (122,944) (137,130)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Russel Montgomery
Director
23/01/2025
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Amber Autos (Alfreton) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11879335 . The registered office is Unit 6a Monk Road, Alfreton, DE55 7RL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis. This may not be appropriate because the company had a balance sheet deficit of £122,944 at 31st March 2024 (2023 : 137,130). The company is therefore dependant on the continued support of the director. Should this support be withdrawn and the company be unable to continue trading, adjustments would have to be made to reduce the value of the assets to their net realisable value and to provide any further liabilities which may arise.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation 
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: 
Goodwill                                          -          20% straight line 
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 15% straight line
Equipment 33% straight line
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2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
2.9. Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 8)
9 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 5,000
As at 31 March 2024 5,000
Amortisation
As at 1 April 2023 4,000
Provided during the period 1,000
As at 31 March 2024 5,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 1,000
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 121,569 20,317 6,770 3,044 151,700
Additions 1,400 - - - 1,400
As at 31 March 2024 122,969 20,317 6,770 3,044 153,100
Depreciation
As at 1 April 2023 68,552 11,525 2,853 1,302 84,232
Provided during the period 24,593 5,079 1,014 1,005 31,691
As at 31 March 2024 93,145 16,604 3,867 2,307 115,923
Net Book Value
As at 31 March 2024 29,824 3,713 2,903 737 37,177
As at 1 April 2023 53,017 8,792 3,917 1,742 67,468
6. Stocks
2024 2023
£ £
Stock 8,927 9,205
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,625 3,275
Other debtors 25,186 17,570
33,811 20,845
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,954 6,954
Trade creditors 18,092 20,341
Bank loans and overdrafts 5,847 5,963
Other creditors 150,184 150,386
Taxation and social security 9,997 18,722
191,074 202,366
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,378 15,577
Bank loans 24,987 29,871
35,365 45,448
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,954 6,954
Later than one year and not later than five years 10,378 15,577
17,332 22,531
17,332 22,531
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 2,163 2,163
2,163 2,163
13. Directors Advances, Credits and Guarantees
At the balance sheet date, the directors were owed £144,160 (2023: £145,815) by the company.
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