Company Registration No. 7872579 (England and Wales)
Ambrian Investments Limited
Unaudited accounts
for the year ended 31 March 2020
Ambrian Investments Limited
Unaudited accounts
Contents
Ambrian Investments Limited
Company Information
for the year ended 31 March 2020
Directors
Ian Carno
Bradley Abkin
Company Number
7872579 (England and Wales)
Registered Office
120 Collinwood Gardens
Gants Hill
Ilford
Essex
IG5 0AL
England
Accountants
Barrie D H Abrahams
120 Collinwood Gardens
Gants Hill
Ilford
Essex
IG5 0AL
Ambrian Investments Limited
Statement of financial position
as at 31 March 2020
Investments
550,050
550,050
Investments
429,089
320,165
Cash at bank and in hand
5,430
3,191
Creditors: amounts falling due within one year
(2,322,203)
(1,986,707)
Net current liabilities
(867,257)
(943,401)
Net liabilities
(317,207)
(393,351)
Called up share capital
100
100
Profit and loss account
(317,307)
(393,451)
Shareholders' funds
(317,207)
(393,351)
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2020 and were signed on its behalf by
Ian Carno
Director
Company Registration No. 7872579
Ambrian Investments Limited
Notes to the Accounts
for the year ended 31 March 2020
Ambrian Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 7872579. The registered office is 120 Collinwood Gardens, Gants Hill, Ilford, Essex, IG5 0AL, England.
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Compliance with accounting standards
The accounts are prepared under the historical cost convention and in accordance with FRS102. The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is
recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised
in respect of all timing differences between the recognition of income and expenses in the accounts and their inclusion in tax
assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the
reversal of the timing difference, except. Current and deferred tax assets and liabilities are not discounted.
Turnover and income recognition
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 rendering of services.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.
Investments in shares are measured at fair value. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the investments are sold.
The company is exempted from the requirement to prepare a cash flow statement (in accordance with Financial Reporting
Standard No. 1) on the basis of its being a small company as defined by the Companies Act 2006.
The company is not registered for Value Added Tax. All expenditure pertaining to the company is stated inclusive of Value Added Tax.
Ambrian Investments Limited
Notes to the Accounts
for the year ended 31 March 2020
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs
and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions (ie) liabilities of uncertain timing or amount are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Acquisitions and disposals of investments
Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the accounts accordingly.
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Transactions with related parties
Included in debtors as amounts due by group undertakings is £1,020,427 (2019 - £719,950) due from a company in which Mr Ian Carno is a director and the company is a 50% shareholder. The amounts are interest free and repayable on demand.
Included in creditors as amounts due by group undertakings is £690,624 (2019 - £690,624) due to a limited liability partnership in which the company is a member. The amounts are interest free and repayable on demand.
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Average number of employees
During the year the average number of employees was 4 (2019: 4).
