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Registration number: 09249154

Amarilla Ltd

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 December 2023

 

Amarilla Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Amarilla Ltd

Company Information

Directors

Mr Y Cosentino

Ms C Bovay

Registered office

20-22 Wenlock Road
London
N1 7GU

 

Accountants

WJ James & Co
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Amarilla Ltd

(Registration number: 09249154)

Balance Sheet
as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

875

289

Investments

5

10,050

10,050

 

10,925

10,339

Current assets

 

Debtors

6

359,863

296,340

Cash at bank and in hand

 

920

17,574

 

360,783

313,914

Creditors: Amounts falling due within one year

7

(80,582)

(61,466)

Net current assets

 

280,201

252,448

Total assets less current liabilities

 

291,126

262,787

Provisions for liabilities

(166)

(56)

Net assets

 

290,960

262,731

Capital and reserves

 

Allotted, authorised and fully paid up share capital

100

100

Profit and loss account

290,860

262,631

Total equity

 

290,960

262,731

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

 

Amarilla Ltd

(Registration number: 09249154)

Balance Sheet
as at 31 December 2023

Approved and authorised by the Board on 21 February 2024 and signed on its behalf by:
 

.........................................

Mr Y Cosentino

Director

.........................................

Ms C Bovay

Director

 

Amarilla Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
20-22 Wenlock Road
London
N1 7GU

These financial statements were authorised for issue by the Board on 21 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the profit or loss.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Amarilla Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Amarilla Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

Amarilla Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Cost brought forward

1,422

1,422

Additions

878

878

At 31 December 2023

2,300

2,300

Depreciation

Depreciation brought forward

1,133

1,133

Depreciation charge

292

292

At 31 December 2023

1,425

1,425

Carrying amount

At 31 December 2023

875

875

At 31 December 2022

289

289

5

Investments

2023
£

2022
£

Investments in subsidiaries

10,050

10,050

Subsidiaries

£

Cost or valuation

At 1 January 2023

10,050

Provision

Carrying amount

At 31 December 2023

10,050

At 31 December 2022

10,050

 

Amarilla Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

6,744

15,652

Amounts owed by group undertakings and undertakings in which the company has a participating interest

351,784

280,117

Other debtors

 

1,335

571

 

359,863

296,340

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

425

-

Trade creditors

 

2,827

1,559

Taxation and social security

 

658

660

Accruals and deferred income

 

1,500

1,500

Other creditors

 

75,172

57,747

 

80,582

61,466