Abbreviated Company Accounts - AMBRIAN INVESTMENTS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
a) Accounting convention

The abbreviated accounts are prepared under the historical cost convention and in accordance with applicable accounting standards recognised in the United Kingdom (United Kingdom Generally Accepted Accounting Practice).

The significant accounting policies are consistent with those of the accounting policies described in the 2016 annual financial statements and are described below. In accordance with FRS 18 "Accounting Policies" the director confirms that the most appropriate accounting policies have been used in preparing the financial statements.

b) Going concern

At the balance sheet date the company has a deficiency of assets and is dependent upon the continued support from its shareholder and creditors. These abbreviated accounts have been prepared on a going concern basis as the director has received assurances from the shareholders and creditors that such support will continue to be made available.

Turnover policy
c) Turnover

Turnover represents services rendered during the year, excluding returns, discounts and Value Added Tax.

Valuation information and policy
f) Investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

Other accounting policies
d) Cash flow statement

The company is exempted from the requirement to prepare a cash flow statement (in accordance with Financial Reporting Standard No. 1) on the basis of its being a “small company” as defined by the Companies Act 2006.

e) Deferred taxation

Deferred taxation has been recognised as a liability or asset if transactions have occurred at the balance sheet date that give rise to an obligation to pay more taxation, or a right to pay less taxation, in the future which timing differences have originated but not reversed at the balance sheet date. Deferred tax assets are recognised if their recoverability in the foreseeable future is deemed to be probable. An asset is not recognised to the extent that the transfer of economic benefits in the future is uncertain. Any liability to deferred tax is provided at the average rate of tax expected to apply based on tax rates and laws that have been enacted or substantially enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted to reflect the time value of money.

g) Value Added Tax

The company is not registered for Value Added Tax, all expenditure is, where applicable, stated including Value Added Tax. All income is stated excluding Value Added Tax.

h) Acquisitions and disposals of investments

Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the abbreviated accounts accordingly.

i) Joint ventures and joint arrangements

Profits and losses from joint ventures and joint arrangements including limited liability partnerships are recognised on the accruals basis, when they have been ascertained. The company’s economic interest in the assets and liabilities of joint ventures’ and joint arrangements’ are included in the financial statements as loans to or from joint venture partners and are included in debtors/creditors as current assets/liabilities respectively.

2Fixed assets Investments
At cost 31st March 2016 31st March 2015
£ £
Investment in Emergency Cash Limited 128,875 100,000
Capital account in Live Work Space (2011) LLP 550,000 550,000
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£678,875 £650,000
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The value of the investments based on the net equity method, and their details are as follows:-




Proportion of voters’ rights held
Country of registration and operation
Results for the year ended 31st March 2016 Aggregate capital and reserves at 31st March 2016
Live Work Space (2011) LLP
50%
England
£(33,305)
£339,002
Emergency Cash Limited* 5.61% England £(25,999) £35,941
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Emergency Cash Limited is a short term pay day loan provider and introducer which trades under the name Wizzcash. The company owns 285,271 ordinary shares of £0.0001p. The figures stated for Emergency Cash Limited are for the year ended 30th September 2015. No subsequent financial information is available.

Live Work Space (2011) LLP is a limited liability partnership which was a mixed use commercial property investment that has recently been redeveloped to residential.