Ambassador House Holdings Limited Filleted accounts for Companies House (small and micro)

AMBASSADOR HOUSE HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01340889

Ambassador House Holdings Limited

Filleted Unaudited Financial Statements

30 April 2022

Ambassador House Holdings Limited

Statement of Financial Position

30 April 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	4,158	4,768
Investments	6	3,788,578	3,723,407
		------------	------------
		3,792,736	3,728,175

Current assets

Debtors	7	20,125	29,929
Cash at bank and in hand		594,879	292,993
		---------	---------
		615,004	322,922

Creditors: amounts falling due within one year	8	61,262	104,651
		---------	---------
Net current assets		553,742	218,271
		------------	------------
Total assets less current liabilities		4,346,478	3,946,446

Provisions

Taxation including deferred tax	593,355	607,982
	------------	------------
Net assets	3,753,123	3,338,464
	------------	------------

Capital and reserves

Called up share capital	40,000	40,000
Revaluation reserve	736,281	688,582
Profit and loss account	2,976,842	2,609,882
	------------	------------
Shareholders funds	3,753,123	3,338,464
	------------	------------

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 Section 1A of 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 comprehensive income has not been delivered.

For the year ending 30 April 2022 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 .

Ambassador House Holdings Limited

Statement of Financial Position (continued)

30 April 2022

These financial statements were approved by the board of directors and authorised for issue on 7 December 2022 , and are signed on behalf of the board by:

Mr C R Goodspeed

Director

Company registration number: 01340889

Ambassador House Holdings Limited

Notes to the Financial Statements

Year ended 30 April 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Elizabeth House, 54-58 High Street, Edgware, Middlesex, HA8 7TT.

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.

Income 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

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:

Furniture fixtures & fittings	-	15% reducing balance
Office equipment	-	15% reducing balance

Property investments

In accordance with paragraph 5.38 of the Financial Reporting Standard for Smaller Entities, as the company's property investments are held for long term investment, they have been included in the balance sheet at their open market values. Changes in the values of investment properties are disclosed as a movement on an investment revaluation reserve. Depreciation is not provided in respect of investment properties, in accordance with paragraph 5.37 of the Financial Reporting Standard for Smaller Entities. Freehold Ground Rents comprise the freehold reversionary interests in the properties acquired by the company, which have been retained, as investments, on granting long leasehold interests, and specific ground rents acquired for investment. The former have been included at a proportion of the original cost of properties, such proportion representing the value of the reversionary interests retained, compared with the combined value of those interests and the leasehold interests granted. The value of the reversionary interest is calculated as a multiple of the annual ground rent receivable.

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.

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 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2021: 3 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 May 2021 and 30 April 2022	11,037	23,124	34,161
	--------	--------	--------
Depreciation
At 1 May 2021	10,319	19,074	29,393
Charge for the year	107	503	610
	--------	--------	--------
At 30 April 2022	10,426	19,577	30,003
	--------	--------	--------
Carrying amount
At 30 April 2022	611	3,547	4,158
	--------	--------	--------
At 30 April 2021	718	4,050	4,768
	--------	--------	--------

6. Investments

	Freehold Land & Buildings	Freehold Ground Rents	Leasehold Land & Buildings	Total
	£	£	£	£
Cost
At 1 May 2021	3,226,928	196,479	300,000	3,723,407
Additions	32,100	–	–	32,100
Revaluations	33,071	–	–	33,071
	------------	---------	---------	------------
At 30 April 2022	3,292,099	196,479	300,000	3,788,578
	------------	---------	---------	------------
Impairment
At 1 May 2021 and 30 April 2022	–	–	–	–
	------------	---------	---------	------------

Carrying amount
At 30 April 2022	3,292,099	196,479	300,000	3,788,578
	------------	---------	---------	------------
At 30 April 2021	3,226,928	196,479	300,000	3,723,407
	------------	---------	---------	------------

The Fixed Asset Investments have been valued at the Balance Sheet date by Mr. C.R. Goodspeed, FRICS, a Director of the company, at open market values.

7. Debtors

	2022	2021
	£	£
Trade debtors	14,772	26,046
Other debtors	5,353	3,883
	--------	--------
	20,125	29,929
	--------	--------

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	11,008	10,200
Corporation tax	31,307	14,218
Other creditors	18,947	80,233
	--------	---------
	61,262	104,651
	--------	---------

9. Directors' advances, credits and guarantees

At the year end, the company owed the directors £1,572 (2021:£66,412).