Amber Body Construction (Plymouth) Limited - Period Ending 2020-03-31

Amber Body Construction (Plymouth) Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

Amber Body Construction (Plymouth) Limited

Balance Sheet

31 March 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	7,896	3,170
Current assets
Debtors	5	84,192	77,883
Cash at bank and in hand		1,616	-
		85,808	77,883
Creditors: Amounts falling due within one year	6	(99,263)	(103,492)
Net current liabilities		(13,455)	(25,609)
Net liabilities		(5,559)	(22,439)
Capital and reserves
Called up share capital	8	130	130
Profit and loss account		(5,689)	(22,569)
Total equity		(5,559)	(22,439)

Amber Body Construction (Plymouth) Limited

Balance Sheet

31 March 2020

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 January 2021 and signed on its behalf by:
 

......................................... Mr T L Body Director

Company Registration Number: 09924337

Amber Body Construction (Plymouth) Limited

Notes to the Financial Statements

Year Ended 31 March 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4 Beechwood House
Beech Avenue
Cattedown
Plymouth
PL4 0QQ

These financial statements were authorised for issue by the Board on 25 January 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. This depends on the continued financial support of the company's directors.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company. Revenue is recognised in the period to which the activity occurred.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% straight line
Office equipment	20% straight line

Amber Body Construction (Plymouth) Limited

Notes to the Financial Statements

Year Ended 31 March 2020

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2019 - 3).

Amber Body Construction (Plymouth) Limited

Notes to the Financial Statements

Year Ended 31 March 2020

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2019	2,862	3,636	6,498
Additions	1,057	7,150	8,207
At 31 March 2020	3,919	10,786	14,705
Depreciation
At 1 April 2019	1,510	1,818	3,328
Charge for the year	784	2,697	3,481
At 31 March 2020	2,294	4,515	6,809
Carrying amount
At 31 March 2020	1,625	6,271	7,896
At 31 March 2019	1,352	1,818	3,170

5

Debtors

	2020 £	2019 £
Other debtors	84,192	77,883
	84,192	77,883

Amber Body Construction (Plymouth) Limited

Notes to the Financial Statements

Year Ended 31 March 2020

6

Creditors

Creditors: amounts falling due within one year

	Note	2020 £	2019  £
Due within one year
Loans and borrowings	7	-	7,600
Trade creditors		43,278	88,065
Social security and other taxes		4,385	-
Other creditors		5,783	7,827
Accrued expenses		45,817	-
		99,263	103,492

Creditors: amounts falling due after more than one year

2020 £

2019 £

7	Loans and borrowings

	2020 £	2019 £
Current loans and borrowings
Bank overdrafts	-	7,600

Amber Body Construction (Plymouth) Limited

Notes to the Financial Statements

Year Ended 31 March 2020

8	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary A shares of £1 each	51	51	51	51
Ordinary B shares of £1 each	49	49	49	49
Ordinary C shares of £1 each	10	10	10	10
Ordinary D shares of £1 each	10	10	10	10
Ordinary E shares of £1 each	10	10	10	10
	130	130	130	130