Amberside Accounting Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08821125

Amberside Accounting Ltd

Filleted Unaudited Financial Statements

31 October 2024

Amberside Accounting Ltd

Statement of Financial Position

31 October 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	9,019	11,799
Investments	6	10	10
		-------	--------
		9,029	11,809

Current assets

Debtors	7	60,878	87,744
Cash at bank and in hand		22,345	23,688
		--------	---------
		83,223	111,432

Creditors: amounts falling due within one year	8	100,464	83,526
		---------	---------
Net current (liabilities)/assets		( 17,241)	27,906
		--------	--------
Total assets less current liabilities		( 8,212)	39,715

Creditors: amounts falling due after more than one year	9	58,410	58,608

Provisions	1,713	2,242
	--------	--------
Net liabilities	( 68,335)	( 21,135)
	--------	--------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 69,335)	( 22,135)
	--------	--------
Shareholders deficit	( 68,335)	( 21,135)
	--------	--------

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 comprehensive income has not been delivered.

For the 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:

- 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Amberside Accounting Ltd

Statement of Financial Position (continued)

31 October 2024

These financial statements were approved by the board of directors and authorised for issue on 31 October 2025 , and are signed on behalf of the board by:

Edward Bianco
Director

Company registration number: 08821125

Amberside Accounting Ltd

Notes to the Financial Statements

Year ended 31 October 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 Amberside House, Wood Lane, Hemel Hempstead, Hertfordshire, HP2 4TP, England.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Information Technology	-	33% straight line
Office Equipment	-	20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2023: 11 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 November 2023	21,580	469	22,049
Additions	4,458	–	4,458
Disposals	( 2,380)	( 109)	( 2,489)
	--------	----	--------
At 31 October 2024	23,658	360	24,018
	--------	----	--------
Depreciation
At 1 November 2023	10,046	204	10,250
Charge for the year	7,076	94	7,170
Disposals	( 2,349)	( 72)	( 2,421)
	--------	----	--------
At 31 October 2024	14,773	226	14,999
	--------	----	--------
Carrying amount
At 31 October 2024	8,885	134	9,019
	--------	----	--------
At 31 October 2023	11,534	265	11,799
	--------	----	--------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 November 2023 and 31 October 2024	10
	----
Impairment
At 1 November 2023 and 31 October 2024	–
	----

Carrying amount
At 31 October 2024	10
	----
At 31 October 2023	10
	----

7. Debtors

	2024	2023
	£	£
Trade debtors	51,428	74,661
Other debtors	9,450	13,083
	--------	--------
	60,878	87,744
	--------	--------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Other debtors	–	34
	----	----

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	9,838	1,121
Social security and other taxes	81,807	47,200
Other creditors	8,819	35,205
	---------	--------
	100,464	83,526
	---------	--------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8,410	4,810
Other creditors	50,000	53,798
	--------	--------
	58,410	58,608
	--------	--------

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	1,713	2,242
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	1,713	2,242
	-------	-------

11. Financial instruments

The indefinite unsecured debentures at an interest rate of 0% per annum remain held by Edward Bianco , a director of Amberside Accounting Ltd . As at the Statement of Financial Position date the outstanding balance was £50,000 (2023: £53,798).

12. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Edward Bianco	( 51,146)	417	( 833)	( 51,562)
	--------	----	----	--------

	2023
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Edward Bianco	( 69,509)	20,596	( 2,233)	( 51,146)
	--------	--------	-------	--------

£50,000 of the directors loan account is secured against all the company's shareholdings in other entities including E Money Market Limited and MSA Accounting Ltd.

13. Related party transactions

	2024	2023
	£	£
Balances owed to an entity by the company over which the entity has participating interest	8,400	4,800
Balances due from an entity to the company over which the entity has participating interest	35,453	2,800
Services provided to an entity by the company over which the entity has participating interest	360,107	315,690
Services received from an entity to the company over which the entity has participating interest	42,120	68,097
Balances owed to an entity by the company over which the entity has joint control	10	10