0 false false true false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 69,901 69,901 xbrli:pure xbrli:shares iso4217:GBP SC528407 2023-07-01 2024-06-30 SC528407 2024-06-30 SC528407 2023-06-30 SC528407 2022-07-01 2023-06-30 SC528407 2023-06-30 SC528407 2022-06-30 SC528407 core:NetGoodwill 2023-07-01 2024-06-30 SC528407 bus:Director1 2023-07-01 2024-06-30 SC528407 core:NetGoodwill 2024-06-30 SC528407 core:WithinOneYear 2024-06-30 SC528407 core:WithinOneYear 2023-06-30 SC528407 core:ShareCapital 2024-06-30 SC528407 core:ShareCapital 2023-06-30 SC528407 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC528407 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC528407 bus:SmallEntities 2023-07-01 2024-06-30 SC528407 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC528407 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC528407 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC528407 bus:FullAccounts 2023-07-01 2024-06-30 SC528407 core:AllAssociates 2023-07-01 2024-06-30 SC528407 core:AllAssociates 2024-06-30 SC528407 core:AllAssociates 2023-06-30
COMPANY REGISTRATION NUMBER: SC528407
Amber Watt Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2024
Amber Watt Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Current assets
Cash at bank and in hand
302
35,387
Creditors: amounts falling due within one year
3
108,115
142,916
---------
---------
Net current liabilities
107,813
107,529
---------
---------
Total assets less current liabilities
( 107,813)
( 107,529)
---------
---------
Net liabilities
( 107,813)
( 107,529)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 107,913)
( 107,629)
---------
---------
Shareholders deficit
( 107,813)
( 107,529)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 June 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 March 2025 , and are signed on behalf of the board by:
A. Watt
Director
Company registration number: SC528407
Amber Watt Limited
Accounting Policies
Year ended 30 June 2024
Basis of preparation
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A , 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
Going concern
The accounts are prepared on the going concern basis. The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. In addition the directors have confirmed that they will not recall their loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Amber Watt Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Corrie Lodge, Milngavie, Glasgow, G62 8EJ, Scotland.
2. Intangible assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
69,901
--------
Amortisation
At 1 July 2023 and 30 June 2024
69,901
--------
Carrying amount
At 30 June 2024
--------
At 30 June 2023
--------
3. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
108,115
142,916
---------
---------
4. Related party transactions
During the year the company repaid loans to N & Y Watt of £ 35,001 (2023: £nil). At the year end the balance owed to N. Watt, a Director, and his wife Y.Watt was £ 106,915 (2023: £ 141,916 ).