Amberlake Limited
Amberlake Limited
Registered number: 07173470
Unaudited Financial Statements
For The Year Ended 31 March 2019
Amberlake Limited
Unaudited Financial Statements
For The Year Ended 31 March 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3—4 |
Amberlake Limited
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
07173470
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 3 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 4 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (12,426) | (14,675) | |||
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Page 1
Amberlake Limited
Balance Sheet (continued)
As at
31 March 2019
The notes on pages 3 to 4 form part of these financial statements.
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Amberlake Limited
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5.
Financial Instruments
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 the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
1.6.
Impairment
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.
1.7.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
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Amberlake Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
2.
Average Number of Employees
Average number of employees, including directors, during the year was 1.
| 2019 | 2018 | ||
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| All Staff |
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3.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Other creditors |
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| Director's loan account |
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5.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Other | ||
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| 2019 | 2018 | |
| £ | £ | |
| Between 1 and 5 years | 4,234 | 8,142 |
| 4,234 | 8,142 | |
6.
Related Party Transactions
At the year end, 31 March 2019, the company owed the directors £11,975 (2018: £14,236) in respect of a loan held with the company. This amount is interest free and repayable on demand.
7.
General Information
Amberlake Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07173470 . The registered office is 138 High Street, Crediton, Devon, EX17 3DX. The principle place of business is Squirrell Lodge, Woodgate, Cheriton Bishop, Crediton, Devon, EX17 6SJ.
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