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Company registration number: 06201353
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FOR THE YEAR ENDED
30 JUNE 2022
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CONTENTS
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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COMPANY INFORMATION
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Unit 11 Centenary Industrial Estate
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Chartered Accountants & Statutory Auditor
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AMPLICON GROUP LIMITED
REGISTERED NUMBER:06201353
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STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Alloted, called up and fully paid share capital
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Capital redemption reserve
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The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................
Miss G M Citroni
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The notes on pages 4 to 8 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022
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Capital redemption reserve
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Comprehensive income for the year
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Dividends: Equity capital
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Comprehensive income for the year
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Dividends: Equity capital
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The notes on pages 4 to 8 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
Amplicon Group Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page, which is also its principal place of business.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered elible for the exemption to prepare consolidated accounts.
Turnover represents rental income from investment property.
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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is carried at fair value determined by external valuers as required and internally and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.
Investments in subsidiaries are measured at cost less accumulated impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income 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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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The average monthly number of employees, including the director, during the year was 1 (2021 - 1).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
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Investments in subsidiary companies
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
The residential and commercial investment properties have been valued externally post year end in October 2022. The directors have carried out a valuation of the properties as at the year end and believe that the value of both the residential and commercial investment properties at the year end is in line with the post year end external property valuations.
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Revaluation of Investment Properties
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Related party transactions
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At the year end, the director was owed £867 by the Company (2021: £388).
Included in amounts owed to group undertakings is an amount of £4,848,866 (2021: £4,602,675) payable to Amplicon Liveline Limited, a subsidiary company.
Included in amounts owed by group undertakings is an amount of £12,623 (2021: £nil) owed by Amplicon Electronics Limited, a subsidary company.
Included in other debtors is an amount of £2,635,522 (2021: £2,313,986) owed by LGMC Asset Management Limited, a Company under common control.
All the above loans are interest free and repayable on demand.
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Post balance sheet events
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Post year end the Company and its subsidiaries are in the process of undertaking a group restructuring. As part of this restructuring on 30 November 2022 Amplicon Group Limited was acquired by Amplicon Group Holdings Limited for a consideration of £15,401,378.
The auditor's report on the financial statements for the year ended 30 June 2022 was unqualified.
The audit report was signed on 21 December 2022 by Caroline Milton FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
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