Year Ended
Registration number:
Ambrey Risk Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Statement of Income and Retained Earnings |
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Balance Sheet |
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Notes to the Financial Statements |
Ambrey Risk Limited
Company Information
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Director |
C J Charnley |
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Company secretary |
C J Charnley |
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Registered office |
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Auditors |
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Ambrey Risk Limited
Strategic Report for the Year Ended 30 June 2024
The director presents his strategic report for the year ended 30 June 2023.
Principal activity
The principal activity of the company is the provision of maritime security services both directly and in the form of operational management to fellow group undertakings.
Review of the business
A decline in turnover compared to the previous period continued in this period as anticipated following the removal of the High Risk Area in January 2023 and disruption to commercial shipping in the Indian Ocean and Red Sea following the conflict in Gaza.
However, gross margin increased from 56% to 65% as increased risks commanded a higher transit price. Administrative expenses reduced due to a restructure within the reporting period.
Operating profit increased to £665,723 compared to £402,156 in the prior period, due to the reduced overheads and increased gross margin.
From an overall balance sheet perspective, the retained profit translates into an increase in net assets from £4.2m to £4.9m. The increase in debtors and creditors is due to intercompany transactions within the group.
Financial Key Performance Indicators
The company uses a number of key financial indicators in assessing and driving performance. The key financial indicators used by the company are as follows:
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Year ended 30 June 2024 |
Year ended 30 June 2023 |
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|
Turnover £m |
8.0 |
10.4 |
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Gross profit £m |
5.2 |
5.7 |
|
Profit before tax £m |
0.6 |
0.4 |
Principal risks and uncertainties
This reporting period followed the removal of the High Risk Area (HRA) on 1 January 2023 where Ambrey continued to offer an armed guard solution. The decline was not as significant as expected and following further Houthi attacks in the Red Sea and Gulf of Aden since November 2023, commercial shipping has experienced ongoing disruption. Conflict from the Gaza war continues to disrupt commercial shipping as owners opt to route round the Cape of Good Hope, however Ambrey remains positioned to support clients still able to transit through the Indian Ocean and Red Sea.
Alongside this market demand risk, the economic conditions and geo-political uncertainty continue to be a risk for Ambrey. US foreign and trade policy, partner relations and commodity prices may impact revenue and profitability.
Operational risks include disruption to the supply chain that could affect the Company’s ability to generate income.
The sanctions and regulatory framework have become ever more complex and demanding, leaving no room for error. Enhanced digital and management frameworks have been put in place to mitigate this risk.
Ambrey Risk Limited
Strategic Report for the Year Ended 30 June 2024
Lesser risks in terms of impact and probability range from loss of the regulatory licensing framework in relation to firearms, quality management accreditation or flag state approval. In a competitive market supplier quality management is always a concern. These risks are ever present but are mitigated by good management delivered by quality people in management and on the water. Continued investment in our people is paramount.
Approved by the
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Ambrey Risk Limited
Director's Report for the Year Ended 30 June 2024
The director presents his report for the year ended 30 June 2023.
Director of the company
The director who held office during the year was as follows:
Financial instruments
Objectives and policies
The company's activities expose it to a number of financial risks, including credit risk, cash flow risk and liquidity risk. The use and nature of financial instruments are determined by the director in the context of trading terms made available to the company and wider group by customers and suppliers, with the objective of securing the liquidity and profitability of the company.
Price risk, credit risk, liquidity risk and cash flow risk
The company's principal financial instruments comprise bank balances, short term trade and other debtors and creditors, and long term loans.
Due to the nature of the financial instruments used by the company, there is limited exposure to price risk.
The company's policy in respect of credit risk is to obtain appropriate credit checks on potential customers before sales are made and to monitor payments against contractual agreements for existing customers.
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Approved and authorised by the
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Ambrey Risk Limited
Statement of Director's Responsibilities
The director acknowledges his director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Ambrey Risk Limited
Independent Auditor's Report to the Members of Ambrey Risk Limited
Opinion
We have audited the financial statements of Ambrey Risk Limited (the 'company') for the year ended 30 June 2024, which comprise the Statement of Income and Retained Earnings, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Ambrey Risk Limited
Independent Auditor's Report to the Members of Ambrey Risk Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities set out on page 5, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Ambrey Risk Limited
Independent Auditor's Report to the Members of Ambrey Risk Limited
As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable to the company. We gained an understanding of the industry in which the company operates as part of this assessment to identify the key laws and regulations affecting the company. As part of this, we reviewed the group’s website for indication of any regulations and certification in place and discussed these with the relevant individuals responsible for compliance. The key regulations we identified were International Maritime Law and UN Conventions, International Codes of Conduct and UK licensing laws, as well as health and safety regulations, tax legislation, and employment law. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.
We discussed with management how the compliance with these laws and regulations is monitored and discussed policies and procedures in place. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the company’s ability to continue operating and the risk of material misstatement to the accounts. We also evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:
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Enquiries of management regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements. |
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Reviewed legal and professional costs to identify any possible non-compliance or legal costs in respect of non-compliance. |
Given that the company trades in high-risk territories we have also carried out procedures to address the risk of non-compliance under the Bribery Act 2010. These procedures involved the following:
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• |
Searches have been carried out on a sample of suppliers and customers in these high-risk territories to look for any sanctions or evidence of criminal activities. |
We assessed the susceptibility of the financial statements to material misstatement through management override or fraud, including in relation to income and expenditure, and obtained an understanding of the controls in place to mitigate the risk of fraud. One significant fraud risk is the manipulation of revenue cut-off to purposely understate results. This involves recognising revenue in incorrect periods to misrepresent the financial performance of the company. We also discussed with management whether there had been any instances of known or alleged fraud, of which there were none, and evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements. Based upon our understanding we designed and conducted audit procedures including:
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Audited the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. |
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Reviewed estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the estimates. |
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We reviewed a sample of transits ongoing at year end and ensured that the sale was being recognised in the correct accounting period. |
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We reviewed a sample of completed transits from the clients CRM software and agreed this through to invoice and posting in the accounts system. |
Ambrey Risk Limited
Independent Auditor's Report to the Members of Ambrey Risk Limited
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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Ground Floor
Blackbrook Gate 1
Blackbrook Business Park
Somerset
TA1 2PX
Ambrey Risk Limited
Statement of Income and Retained Earnings
Year Ended 30 June 2024
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Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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|
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Administrative expenses |
( |
( |
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Operating profit |
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Interest payable and similar charges |
( |
( |
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Profit before tax |
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|
|
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Taxation |
|
( |
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|
Profit for the financial year |
|
|
|
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Retained earnings brought forward |
4,218,844 |
3,958,410 |
|
|
Retained earnings carried forward |
4,860,543 |
4,218,844 |
Ambrey Risk Limited
Balance Sheet
30 June 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved and authorised by the
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Company Registration Number: 07374749
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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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 have been 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. There are no material departures from FRS102.
Basis of preparation
These financial statements have been prepared using the historical cost convention, expect that, as disclosed in the accounting policies, certain items are shown at fair value.
Summary of disclosure exemptions
Ambrey Risk Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its individual financial statements. Exceptions have been taken in relation to financial instruments, presentation of a cash flow statement, and remuneration of key management.
Going concern
On the basis of his assessment of the company's financial position and resources, the director believes that the company is well placed to manage its business risks. Therefore the director has a reasonable expectation that the company have adequate resources to continue in operational existence for the foreseeable future, and the director is satisfied that it remains appropriate for the company to adopt the going concern basis of accounting in preparing these financial statements.
In making his going concern assessment, the director has given consideration to the operations and financial performance and position of both the company and the wider group. While recognising that there can be no certainty, having considered these factors and made all necessary enquiries, the director is satisfied that the company will continue to meet its liabilities as they fall due, and is satisfied that the company will continue to operate with sufficient cash headroom for a period of at least 12 months (from the date of approval of these financial statements).
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
Key accounting judgements and sources of estimation uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key judgement that has a significant impact on the financial statements is in respect of going concern, as noted above.
The key estimates that have a significant effect on the amounts recognised in the financial statements are described below.
Amounts due from group undertakings are recognised net of provisions for doubtful debts, which requires an estimation of the amounts recoverable from other group companies. A review of intercompany debtors confirmed that no provision is required in the current year. The carrying amount is £34,935,192 (2023 - £24,465,453).
Management are required to make estimates as to the outflow of economic benefits which will be required to settle an obligation in making provisions.
Revenue recognition
Turnover comprises the fair value of the consideration receivable for the provision of services. Turnover is shown net of value added tax, returns, rebates and discounts.
Revenue in respect of training courses is recognised when the service has been provided. Revenue in respect of maritime transit services is recognised with respect to the stage of completion of the transit, based on the total number of days included in the contract term. Revenue in respect of management charges made to other group companies is recognised when the service has been provided.
Foreign currency transactions and balances
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.
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
Deferred tax is recognised on all timing differences at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Intangible assets
Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Computer software |
25% straight line |
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 |
|
Land and buildings |
20% straight line |
|
Motor vehicles |
20% straight line |
|
Maritime vessels |
25% straight line |
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Plant and machinery |
25 - 33% straight line |
Stocks
Stock is valued at the lower of cost and net realisable value.
Provisions
A provision is recognised in the balance sheet when the company has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Intercompany debtors and creditors; and
• Cash and bank balances.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for derivative financial instruments measured as fair value and bank borrowings, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
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Revenue |
The analysis of the company's revenue for the year from continuing operations is as follows:
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2024 |
2023 |
|
|
Rendering of services |
|
|
The analysis of the company's Turnover for the year by class of business is as follows:
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2024 |
2023 |
|
|
Maritime sales |
|
|
|
Management charges receivable |
|
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Training and other income |
|
|
|
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The analysis of the company's Turnover for the year by market is as follows:
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2024 |
2023 |
|
|
Rest of world |
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2024 |
2023 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
- |
|
|
Foreign exchange (gains)/losses |
( |
|
|
Profit on disposal of property, plant and equipment |
- |
( |
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
|
2024 |
2023 |
|
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Wages and salaries |
|
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Social security costs |
|
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Pension costs, defined contribution scheme |
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Other employee expense |
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The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
|
2024 |
2023 |
|
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Administration and support |
|
|
|
|
|
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Director's remuneration |
The director's remuneration for the year was as follows:
|
2024 |
2023 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
207,321 |
205,642 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2024 |
2023 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2024 |
2023 |
|
|
Remuneration |
|
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Company contributions to money purchase pension schemes |
|
|
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
|
Auditor's remuneration |
|
2024 |
2023 |
|
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Audit of the financial statements |
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Interest payable and similar expenses |
|
2024 |
2023 |
|
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Bank interest |
|
|
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Corporation tax interest |
|
- |
|
|
|
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Taxation |
Tax charged/(credited) in the profit and loss account
|
2024 |
2023 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
|
|
(38,191) |
94,144 |
|
|
Deferred taxation |
||
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Arising from origination and reversal of timing differences |
- |
( |
|
Tax (receipt)/expense in the income statement |
( |
|
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2024 |
2023 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Effect of expense not deductible in determining taxable profit |
|
|
|
Deferred tax credit relating to changes in tax rates or laws |
- |
( |
|
Increase from tax losses for which no deferred tax asset was recognised |
|
|
|
(Decrease)/increase in UK and foreign current tax from adjustment for prior periods |
( |
|
|
Tax increase from effect of capital allowances and depreciation |
- |
|
|
Total tax (credit)/charge |
( |
|
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
|
Intangible assets |
|
Software |
Total |
|
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Cost or valuation |
||
|
At 1 July 2023 |
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At 30 June 2024 |
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Amortisation |
||
|
At 1 July 2023 |
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|
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At 30 June 2024 |
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|
Carrying amount |
||
|
At 30 June 2024 |
- |
- |
|
At 30 June 2023 |
- |
- |
|
Tangible assets |
|
Land and buildings |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost or valuation |
||||
|
At 1 July 2023 |
|
|
|
|
|
Additions |
- |
- |
|
|
|
At 30 June 2024 |
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|
|
|
|
Depreciation |
||||
|
At 1 July 2023 |
|
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|
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|
Charge for the year |
|
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|
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At 30 June 2024 |
|
|
|
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Carrying amount |
||||
|
At 30 June 2024 |
- |
|
|
|
|
At 30 June 2023 |
|
|
|
|
Included within the net book value of land and buildings above is £Nil (2023 - £1,146) in respect of short leasehold land and buildings.
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
|
Stocks |
|
2024 |
2023 |
|
|
Consumables |
|
|
|
Debtors |
|
Note |
2024 |
2023 |
|
|
Trade debtors |
|
|
|
|
Amounts owed by group undertakings |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments and accrued income |
|
|
|
|
Corporation tax |
|
- |
|
|
Total current trade and other debtors |
|
|
|
Cash and cash equivalents |
|
2024 |
2023 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
|
Creditors |
|
Note |
2024 |
2023 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Amounts due to group undertakings |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other creditors |
|
|
|
|
Accruals |
|
|
|
|
Corporation tax |
- |
406,322 |
|
|
|
|
|
Obligations under leases |
Operating leases
The total of future minimum lease payments is as follows:
|
2024 |
2023 |
|
|
Not later than one year |
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Provisions for liabilities |
|
Other provisions |
Total |
|
|
At 1 July 2023 |
|
|
|
Additional provisions |
|
|
|
At 30 June 2024 |
|
|
|
|
||
Other provisions relate to ongoing cases where the outcome is uncertain but probable that an outflow of resources will be required to settle the obligation. The figure above reflects the best estimate at the reporting date.
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
2,000 |
|
2,000 |
|
Commitments |
The company has given unlimited guarantee to companies under common control, Ambrey Limited and Ambrey International Limited, over any bank borrowing within these companies. At year end, the bank borrowings in these companies was £Nil (2023 - £Nil).
|
Pension schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
|
Related party transactions |
Transactions with Group companies
Summary of transactions with entities under common ownership
Included within other creditors is £12,166 (2023 - £7,428) owed by a company under common control. The amounts are repayable on demand.
During the year the company incurred £1,500 of fees relating to other group companies. At year end £Nil (2023 - £Nil) was due from these entities.
Summary of transactions with other related parties
Ambrey Risk Limited
Notes to the Financial Statements
Year Ended 30 June 2024
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The parent of the smallest group in which these financial statements are consolidated is
The address of Ambrey Limited is: