Amber Communications (UK) Ltd Filleted accounts for Companies House (small and micro)

AMBER COMMUNICATIONS (UK) LTD - Company Information

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COMPANY REGISTRATION NUMBER: 03082900

Amber Communications (UK) Ltd

Filleted Unaudited Financial Statements

31 July 2018

Amber Communications (UK) Ltd

Statement of Financial Position

31 July 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5	1	6
Investments	6	7	7
		----	----
		8	13

Current assets

Debtors	7	286,152	378,444
Investments	8	9,860	16,187
Cash at bank and in hand		5,004	13,718
		----------	----------
		301,016	408,349

Creditors: amounts falling due within one year	9	37,406		27,576
		----------		----------
Net current assets			263,610	380,773
			----------	----------
Total assets less current liabilities			263,618	380,786
			----------	----------
Net assets			263,618	380,786
			----------	----------

Capital and reserves

Called up share capital	10	2	2
Profit and loss account		263,616	380,784
		----------	----------
Shareholders funds		263,618	380,786
		----------	----------

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 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 31 July 2018 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 .

Amber Communications (UK) Ltd

Statement of Financial Position (continued)

31 July 2018

These financial statements were approved by the board of directors and authorised for issue on 29 April 2019 , and are signed on behalf of the board by:

Mr J A Stephenson
Director

Company registration number: 03082900

Amber Communications (UK) Ltd

Notes to the Financial Statements

Year ended 31 July 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 High Street, Baldock, Herts., SG7 6AZ.

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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. 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Boat	-	10% straight line
Computer Equipment	-	25% 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.

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible assets

	Boat	Computer Equipment	Total
	£	£	£
Cost
At 1 August 2017	34,000	6,939	40,939
Disposals	–	( 6,939)	( 6,939)
	---------	-------	---------
At 31 July 2018	34,000	–	34,000
	---------	-------	---------
Depreciation
At 1 August 2017	33,999	6,934	40,933
Disposals	–	( 6,934)	( 6,934)
	---------	-------	---------
At 31 July 2018	33,999	–	33,999
	---------	-------	---------
Carrying amount
At 31 July 2018	1	–	1
	---------	-------	---------
At 31 July 2017	1	5	6
	---------	-------	---------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 August 2017 and 31 July 2018	7
	----
Impairment
At 1 August 2017 and 31 July 2018	–
	----

Carrying amount
At 31 July 2018	7
	----
At 31 July 2017	7
	----

100% ordinary shares are held in Aquarella Investments 511 (PTY) Ltd, a company incorporated in South Africa. The capital and reserves of the company at 28th February 2018 amounted to £115,283 negative (2017 - £109,719 negative) and the loss for the financial year ended 28th February 2018 amounted to £7,542 (2017 - £11,079).

7. Debtors

	2018	2017
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	273,928	358,160
Other debtors	12,224	20,284
	----------	----------
	286,152	378,444
	----------	----------

8. Investments

	2018	2017
	£	£
Investments - Bullionvault	8,094	14,421
Investments - Silver Coins	1,766	1,766
	-------	---------
	9,860	16,187
	-------	---------

At the year end the company owned 0.190kg (2017 - 0.190kg) of London Gold and 0.157kg (2017 - 0.057kg) of Zurich Gold and 5.199kg (2017 - 12.199kg) of London Silver and Silver Coins with a market value of £10,243 (2017 - £16,616). A further £240 (2017 - £322) was being held on deposit.

9. Creditors: amounts falling due within one year

	2018	2017
	£	£
Social security and other taxes	75	179
Other creditors	37,331	27,397
	---------	---------
	37,406	27,576
	---------	---------

10. Called up share capital

Authorised share capital

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000.00	1,000	1,000.00
	-------	------------	-------	------------

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2.00	2	2.00
	----	------	----	------

11. Related party transactions

The company was under the control of Mr J A Stephenson and Ms B E Peirson throughout the current and previous year. During the year Mr J A Stephenson (director and 50% shareholder) and Ms B E Peirson (director and 50% shareholder) provided a loan to the company amounting to £35,024 at the year end. £25,090 was owed to them at the beginning of the year. The account was not overdrawn during the year. On 16th November 2007, the company purchased 100% of the share capital in Aquarella Investments 511 (PTY) Ltd, a company registered in South Africa. Amber Communications (UK) Limited also provided an inter-group loan to this company amounting to £273,928 at the year end and £358,160 at the beginning of the year. Monies paid to Aquarella Investments 511 (PTY) Ltd for services provided by them totalled £nil during the year. Exchange losses in relation to the outstanding monies amounted to £13,553 during the year. Amounts written off as irrecoverable during the year amounted to £70,678. The capital and reserves of the company at 28th February 2018 amounted to £115,283 negative (2017 - £109,719 negative) and the loss for the financial year ended 28th February 2018 amounted to £7,542 (2017 - £11,079). Mr J A Stephenson and Ms B E Peirson were directors of Aquarella Investments 511 (PTY) Ltd during the year.