Amber Overage Limited - Period Ending 2022-12-31

Amber Overage Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Amber Overage Limited

Company Information

Director

T Cartner

Registered office

Carter House Pelaw Leazes Lane Durham DH1 1TB

Accountants

Evelyn Partners First Floor 2 Collingwood Street Newcastle upon Tyne NE1 1JF

Amber Overage Limited

(Registration number: 11520124)
Statement of Financial Position as at 31 December 2022

	Note	2022 £	2021 £
Fixed assets
Investments	4	75	75
Current assets
Debtors	5	1,821,088	1,821,906
Creditors: Amounts falling due within one year	6	(899,766)	(894,651)
Net current assets		921,322	927,255
Net assets		921,397	927,330
Capital and reserves
Called up share capital	7	1	1
Retained earnings		921,396	927,329
Shareholders' funds		921,397	927,330

Amber Overage Limited

(Registration number: 11520124)
Statement of Financial Position as at 31 December 2022 (continued)

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 20 September 2023
 

......................................... T Cartner Director

Amber Overage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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:
Carter House
Pelaw Leazes Lane
Durham
DH1 1TB

These financial statements were authorised for issue by the director on 20 September 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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.

Amber Overage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022 (continued)

2	Accounting policies (continued)

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 taxable income.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the distribution.

 

Amber Overage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022 (continued)

2	Accounting policies (continued)

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the distribution.

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2021 - 0).

4	Investments

	2022 £	2021 £
Investments in participating interests	75	75

Amber Overage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022 (continued)

4	Investments (continued)

	£
Cost
At 1 January 2022	75
Provision
Carrying amount
At 31 December 2022	75
At 31 December 2021	75

5

Debtors

Current	Note	2022 £	2021 £
Amounts owed by related parties		1,821,087	1,821,905
Other debtors		1	1
		1,821,088	1,821,906

6

Creditors

Creditors: amounts falling due within one year

	Note	2022 £	2021 £
Due within one year
Trade creditors		702	-
Amounts owed to undertakings in which the company has a participating interest		896,919	710,017
Taxation and social security		-	182,579
Other creditors		2,145	2,055
		899,766	894,651

7	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1