Amber Finance Limited Company accounts

Amber Finance Limited Company accounts

AMBER FINANCE LIMITED - Company Information

Print Friendly Version

false false false false false false false false false true false false false false false false false No description of principal activity 2019-04-01 Sage Accounts Production Advanced 2018 Update 1 - FRS 114,363 86,217 xbrli:pure xbrli:shares iso4217:GBP 6423453 2019-04-01 2020-03-31 6423453 2020-03-31 6423453 2019-03-31 6423453 2018-04-01 2019-03-31 6423453 2019-03-31 6423453 bus:RegisteredOffice 2019-04-01 2020-03-31 6423453 bus:Director1 2019-04-01 2020-03-31 6423453 bus:Director2 2019-04-01 2020-03-31 6423453 core:RetainedEarningsAccumulatedLosses 2018-04-01 2019-03-31 6423453 core:RetainedEarningsAccumulatedLosses 2019-04-01 2020-03-31 6423453 core:WithinOneYear 2020-03-31 6423453 core:WithinOneYear 2019-03-31 6423453 core:AfterOneYear 2020-03-31 6423453 core:AfterOneYear 2019-03-31 6423453 core:ShareCapital 2020-03-31 6423453 core:ShareCapital 2019-03-31 6423453 core:RetainedEarningsAccumulatedLosses 2020-03-31 6423453 core:RetainedEarningsAccumulatedLosses 2019-03-31 6423453 core:ShareCapital 2018-03-31 6423453 core:RetainedEarningsAccumulatedLosses 2018-03-31 6423453 core:RestatedAmount 2018-03-31 6423453 core:RestatedAmount 2019-03-31 6423453 bus:SmallEntities 2019-04-01 2020-03-31 6423453 bus:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 6423453 bus:AbridgedAccounts 2019-04-01 2020-03-31 6423453 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 6423453 bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 6423453 core:OfficeEquipment 2019-04-01 2020-03-31 6423453 core:AllAssociates 2019-04-01 2020-03-31
COMPANY REGISTRATION NUMBER: 6423453
Amber Finance Limited
Unaudited Abridged Financial Statements
31 March 2020
Amber Finance Limited
Abridged Financial Statements
Year ended 31 March 2020
Contents
Page
Directors' report
1
Abridged statement of comprehensive income
2
Abridged statement of financial position
3
Statement of changes in equity
5
Notes to the abridged financial statements
6
Amber Finance Limited
Directors' Report
Year ended 31 March 2020
The directors present their report and the unaudited abridged financial statements of the company for the year ended 31 March 2020 .
Directors
The directors who served the company during the year were as follows:
L Farrington
A Tarr
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 7 May 2020 and signed on behalf of the board by:
L Farrington Director
Registered office:
4 Hadleigh Business Centre
351 London Road
Hadleigh
Essex
SS7 2BT
Amber Finance Limited
Abridged Statement of Comprehensive Income
Year ended 31 March 2020
2020
2019
Note
£
£
Gross profit
338,225
364,653
Administrative expenses
195,424
256,218
---------
---------
Operating profit
142,801
108,435
Other interest receivable and similar income
177
123
---------
---------
Profit before taxation
5
142,978
108,558
Tax on profit
28,615
22,341
---------
---------
Profit for the financial year and total comprehensive income
114,363
86,217
---------
---------
All the activities of the company are from continuing operations.
Amber Finance Limited
Abridged Statement of Financial Position
31 March 2020
2020
2019
Note
£
£
£
Fixed assets
Tangible assets
6
5,313
3,643
Current assets
Debtors
840
840
Cash at bank and in hand
95,103
45,762
--------
--------
95,943
46,602
Creditors: amounts falling due within one year
40,188
23,721
--------
--------
Net current assets
55,755
22,881
--------
--------
Total assets less current liabilities
61,068
26,524
Creditors: amounts falling due after more than one year
7,000
7,000
Provisions
Taxation including deferred tax
1,009
692
--------
--------
Net assets
53,059
18,832
--------
--------
Capital and reserves
Called up share capital
102
102
Profit and loss account
52,957
18,730
--------
--------
Shareholders funds
53,059
18,832
--------
--------
These abridged financial statements have been prepared 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'.
For the year ending 31 March 2020 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 abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.
Amber Finance Limited
Abridged Statement of Financial Position (continued)
31 March 2020
These abridged financial statements were approved by the board of directors and authorised for issue on 7 May 2020 , and are signed on behalf of the board by:
L Farrington
A Tarr
Director
Director
Company registration number: 6423453
Amber Finance Limited
Statement of Changes in Equity
Year ended 31 March 2020
Called up share capital
Profit and loss account
Total
£
£
£
At 1 April 2018
102
4,309
4,411
Profit for the year
86,217
86,217
----
--------
--------
Total comprehensive income for the year
–
86,217
86,217
Dividends paid and payable
–
( 71,796)
( 71,796)
----
--------
--------
Total investments by and distributions to owners
–
( 71,796)
( 71,796)
At 31 March 2019
102
18,730
18,832
Profit for the year
114,363
114,363
----
---------
---------
Total comprehensive income for the year
–
114,363
114,363
Dividends paid and payable
–
( 80,136)
( 80,136)
----
--------
--------
Total investments by and distributions to owners
–
( 80,136)
( 80,136)
----
--------
--------
At 31 March 2020
102
52,957
53,059
----
--------
--------
Amber Finance Limited
Notes to the Abridged Financial Statements
Year ended 31 March 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Hadleigh Business Centre, 351 London Road, Hadleigh, Essex, SS7 2BT.
2. Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for commissions due and services rendered.
Corporation 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.
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.
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:
Equipment
-
20% straight line
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.
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 abridged 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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2019: 9 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2020
2019
£
£
Depreciation of tangible assets
1,858
1,240
-------
-------
6. Tangible assets
£
Cost
At 1 April 2019
11,765
Additions
3,528
--------
At 31 March 2020
15,293
--------
Depreciation
At 1 April 2019
8,122
Charge for the year
1,858
--------
At 31 March 2020
9,980
--------
Carrying amount
At 31 March 2020
5,313
--------
At 31 March 2019
3,643
--------
7. Related party transactions
The company was under the control of L Farrington and A Tarr throughout the current and previous period in their capacity as joint majority shareholders.