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COMPANY REGISTRATION NUMBER: 08095094
Amethyst ARC Ltd
Filleted Unaudited Financial Statements
30 June 2024
Amethyst ARC Ltd
Financial Statements
Year ended 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Amethyst ARC Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
18,505
17,866
Current assets
Debtors
7
885,305
643,922
Cash at bank and in hand
52,894
83,453
---------
---------
938,199
727,375
Creditors: amounts falling due within one year
8
379,240
358,164
---------
---------
Net current assets
558,959
369,211
---------
---------
Total assets less current liabilities
577,464
387,077
Provisions
Taxation including deferred tax
( 2,693)
( 15,786)
---------
---------
Net assets
580,157
402,863
---------
---------
Capital and reserves
Called up share capital
40
40
Profit and loss account
580,117
402,823
---------
---------
Shareholders funds
580,157
402,863
---------
---------
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 statement of income and retained earnings 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.
Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Amethyst ARC Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 21 March 2025 , and are signed on behalf of the board by:
Ms B A Cottrell
Director
Company registration number: 08095094
Amethyst ARC Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current tax 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.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated so as to write off the value of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Land and buildings - 50 years straight line Plant and machinery - 25% reducing balance Fixtures and fittings - 25% reducing balance Equipment - 25% reducing balance
Impairment of fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Government grants
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 24 (2023: 5 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
75,714
--------
Amortisation
At 1 July 2023 and 30 June 2024
75,714
--------
Carrying amount
At 30 June 2024
--------
At 30 June 2023
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 July 2023
76,057
61,969
9,980
148,006
Additions
3,612
2,154
5,766
--------
--------
--------
---------
At 30 June 2024
76,057
65,581
12,134
153,772
--------
--------
--------
---------
Depreciation
At 1 July 2023
66,494
55,326
8,320
130,140
Charge for the year
2,439
2,113
575
5,127
--------
--------
--------
---------
At 30 June 2024
68,933
57,439
8,895
135,267
--------
--------
--------
---------
Carrying amount
At 30 June 2024
7,124
8,142
3,239
18,505
--------
--------
--------
---------
At 30 June 2023
9,563
6,643
1,660
17,866
--------
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
22,407
3,824
Other debtors
862,898
640,098
---------
---------
885,305
643,922
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,554
6,269
Corporation tax
25,000
Social security and other taxes
3,712
17,768
Other creditors
343,974
334,127
---------
---------
379,240
358,164
---------
---------
At the balance sheet date, Barlcays Bank PLC hold fixed and floating charges over the property and undertakings of the company.
9. Related party transactions
At the year end the company owed the Directors £191,208 (2023: £221,208).