Registration number:
Amerenth (UK) Ltd
for the Year Ended 31 October 2024
Amerenth (UK) Ltd
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Amerenth (UK) Ltd
Company Information
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Director |
Alan Patrick Giles |
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Company secretary |
Montserrat Segundo |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Amerenth (UK) Ltd
for the Year Ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Amerenth (UK) Ltd for the year ended 31 October 2024 as set out on pages 3 to 7 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
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Amerenth (UK) Ltd, as a body, in accordance with the terms of our engagement letter dated 9 July 2015. Our work has been undertaken solely to prepare for your approval the accounts of Amerenth (UK) Ltd and state those matters that we have agreed to state to the Board of Directors of Amerenth (UK) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amerenth (UK) Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Amerenth (UK) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Amerenth (UK) Ltd. You consider that Amerenth (UK) Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Amerenth (UK) Ltd. 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 accounts.
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Chartered Accountants
Harrow
Middlesex
HA1 1BH
Amerenth (UK) Ltd
(Registration number: 08754882)
Balance Sheet as at 31 October 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investments |
- |
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Current assets |
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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 liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(780,994) |
(350,796) |
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Shareholders' deficit |
(780,894) |
(350,696) |
For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Amerenth (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
Going concern
The financial statements are prepared on a going concern basis, assuming the company will continue operating for at least twelve months from the date of approval.
The company relies relies on ongoing financial support from its shareholders, who have committed to providing sufficient funds to meet obligations for at least twelve months from the date of these financial statements.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Amerenth (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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.
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.
Amerenth (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Investments |
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2024 |
2023 |
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Investments in subsidiaries |
- |
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Subsidiaries |
£ |
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Cost or valuation |
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Additions |
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Disposals |
( |
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At 31 October 2024 |
- |
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Debtors |
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Current |
Note |
2024 |
2023 |
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Amounts owed by related parties |
- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
- |
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Other creditors |
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Amerenth (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Related party transactions |
Related Party Transactions
During the year, the company engaged in the following related party transactions:
Parent Company
The company repaid loans totaling £15,323 to its parent company during the year, with no interest charged on these loans.
As of the balance sheet date, the amount owed to the parent company was £1,011,283 (2023: £1,026,606).
Subsidiary Company
The company provided additional loans of £4,059 to a subsidiary company during the year, with no interest charged.
The subsidiary was disposed of during the year, and the outstanding amount of £521,527 owed by the subsidiary was written off.
As of the balance sheet date, the amount due from the subsidiary company was £nil (2023: £517,468).