Amber Body Construction (Plymouth) Limited - Period Ending 2021-03-31

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 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	5,518	7,896
Current assets
Debtors	5	120,030	84,192
Cash at bank and in hand		-	1,616
		120,030	85,808
Creditors: Amounts falling due within one year	6	(63,922)	(99,263)
Net current assets/(liabilities)		56,108	(13,455)
Total assets less current liabilities		61,626	(5,559)
Creditors: Amounts falling due after more than one year	6	(45,370)	-
Net assets/(liabilities)		16,256	(5,559)
Capital and reserves
Called up share capital	8	130	130
Profit and loss account		16,126	(5,689)
Total equity		16,256	(5,559)

Amber Body Construction (Plymouth) Limited

Balance Sheet

31 March 2021

For the financial year ending 31 March 2021 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 20 December 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 2021

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 20 December 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.

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.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

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

Amber Body Construction (Plymouth) Limited

Notes to the Financial Statements

Year Ended 31 March 2021

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

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 (2020 - 3).

Amber Body Construction (Plymouth) Limited

Notes to the Financial Statements

Year Ended 31 March 2021

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2020	3,919	10,786	14,705
Additions	1,115	-	1,115
At 31 March 2021	5,034	10,786	15,820
Depreciation
At 1 April 2020	2,294	4,515	6,809
Charge for the year	796	2,697	3,493
At 31 March 2021	3,090	7,212	10,302
Carrying amount
At 31 March 2021	1,944	3,574	5,518
At 31 March 2020	1,625	6,271	7,896

5

Debtors

	2021 £	2020 £
Amounts due from group undertakings and related parties	120,030	84,192
	120,030	84,192

Amber Body Construction (Plymouth) Limited

Notes to the Financial Statements

Year Ended 31 March 2021

6

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020  £
Due within one year
Loans and borrowings	7	10,337	-
Trade creditors		32,652	43,278
Amounts due to group undertakings and related parties	9	4,141	-
Corporation tax		3,882	-
Social security and other taxes		12,685	4,385
Other creditors		225	5,783
Accrued expenses		-	45,817
		63,922	99,263

Creditors: amounts falling due after more than one year

	Note	2021 £	2020 £
Due after one year
Loans and borrowings	7	45,370	-

7	Loans and borrowings

	2021 £	2020 £
Loans and borrowings due after one year
Bank borrowings	45,370	-

	2021 £	2020 £
Current loans and borrowings
Bank borrowings	4,630	-
Bank overdrafts	5,707	-
	10,337	-

Amber Body Construction (Plymouth) Limited

Notes to the Financial Statements

Year Ended 31 March 2021

8	Share capital

Allotted, called up and fully paid shares

	2021		2020
	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

9	Related party transactions

During the year, the share capital owned by the previous director Mr K P C Body was transferred to T & W Body Holdings Ltd in consideration for loan notes being the open market value of the shares. Clearance was received from HM Revenue and Customs for this transaction. The loan notes are recorded as a liability in the Balance Sheet of T & W Body Holdings Ltd and are interest bearing.