Registered number: 11245170
Amply Limited
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 30 September 2024
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Amply Limited
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Amply Limited for the Year Ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Amply Limited for the year ended 30 September 2024 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of Directors of Amply Limited, as a body, in accordance with the terms of our engagement letter dated 27 March 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Amply Limited and state those matters that we have agreed to state to the Board of Directors of Amply Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amply Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Amply Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Amply Limited. You consider that Amply Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Amply Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
11 February 2025
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Amply Limited
Registered number: 11245170
Balance Sheet
As at 30 September 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Page 2
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Amply Limited
Registered number: 11245170
Balance Sheet (continued)
As at 30 September 2024
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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O Dorman
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The notes on pages 4 to 8 form part of these financial statements.
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Amply Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
The company is a private company, limited by share capital and incorporated in England and Wales. The registered office and principle place of business is 30 Waterfront, Brighton Marina Village, Brighton, England, BN2 5WA.
The financial statements are presented in Sterling and are rounded to the nearest £1.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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 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.
Page 4
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Amply Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
2.Accounting policies (continued)
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Provisions for liabilities
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Provisions are made where an event has taken place that gives the Company a legal o constructive obligation that probabl requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevan risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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Page 5
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Amply Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Freehold investment property
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The 2024 valuations were made by the directors, on an open market value for existing use basis.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Amounts owed by joint ventures and associated undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to related undertakings
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Accruals and deferred income
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Page 6
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Amply Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Creditors: Amounts falling due after more than one year
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The following liabilities were secured:
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Details of security provided:
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The mortgage is secured over the property, 10 Selham Close.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due after more than 5 years
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Page 7
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Amply Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Authorised, allotted, called up and fully paid
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39,500 (2023 - 39,500) Ordinary B shares shares of £0.01 each
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100,000 (2023 - 100,000) Ordinary A shares shares of £0.01 each
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All shares rank pari passu, although each class has different dividend rights.
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Related party transactions
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RIB Ltd
(parent company)
During the year, Amply Ltd provided a loan to RIB Ltd. At the year-end RIB Ltd owed £Nil (2023: £15,600) Amply Ltd.
Iculous Ltd
(group company)
During the year, Amply Ltd provided a loan to Iculous Ltd. At the year-end Iculous Ltd owed £11,000 (2023: £2,500) to Amply Ltd.
Rivers Birtwell Construction Limited
(common directors)
During the year, Rivers Birtwell Construction Limited recharged costs totalling £432 (2023: £2,196) to Amply Ltd.
Rivers Birtwell Limited
(common directors)
During the year, Rivers Birtwell Limited recharged management fees totalling £Nil (2023: £2,787) to Amply Ltd. At the year-end Amply Ltd owed £Nil (2023: £2,787) to Rivers Birtwell Limited.
Big Student House Ltd
(common directors)
During the year, Big Student House Ltd recharged management fees totalling £6,793 (2023: £3,743) to Amply Ltd.
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The company is controlled by the directors.
The company and its parent comprise a small group. The company has therefore taken advantage of the exemption provided by section 399 of the Companies Act 2006 not to prepare group financial statements.
Page 8
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