Amberside Advisors Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06078852 (England and Wales)

Financial Statements for the Year Ended 31 October 2017

for

Amberside Advisors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Austin

Dr P K Rhoden

N M Rutledge

D J Scrivens

SECRETARY:

Ms D L S Secunda

REGISTERED OFFICE:

Clubfinance House

66-64 Queensway

Hemel Hempstead

Hertfordshire

HP2 5HA

REGISTERED NUMBER:

06078852 (England and Wales)

ACCOUNTANTS:

Farrell & Co

1C Amberside

Wood Lane

Hemel Hempstead

Hertfordshire

HP2 4TP

FIXED ASSETS

Intangible assets

4

535,048

571,958

Tangible assets

5

927,572

862,467

Investments

6

331,480

80,520

1,794,100

1,514,945

CURRENT ASSETS

Debtors

7

1,627,314

1,648,807

Cash at bank

316,181

180,189

1,943,495

1,828,996

CREDITORS

Amounts falling due within one year

8

405,320

371,709

NET CURRENT ASSETS

1,538,175

1,457,287

TOTAL ASSETS LESS CURRENT LIABILITIES

3,332,275

2,972,232

CREDITORS

Amounts falling due after more than one year

9

(602,064

)

(642,858

)

PROVISIONS FOR LIABILITIES

10

(13,737

)

(2,754

)

NET ASSETS

2,716,474

2,326,620

CAPITAL AND RESERVES

Called up share capital

11

20,000

20,000

Share premium

12

1,522,112

1,522,112

Retained earnings

12

1,174,362

784,508

SHAREHOLDERS' FUNDS

2,716,474

2,326,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 July 2018 and were signed on its behalf by:

N M Rutledge - Director

1.	STATUTORY INFORMATION

Amberside Advisors Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 October 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 November 2015.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill is being written off in equal annual instalments over its estimated useful economic life of 20 years, with

a residual value of zero.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2016

and 31 October 2017

738,206

AMORTISATION

At 1 November 2016

166,248

Charge for year

36,910

At 31 October 2017

203,158

NET BOOK VALUE

At 31 October 2017

535,048

At 31 October 2016

571,958

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2016

848,286

25,509

873,795

Additions

57,253

25,775

83,028

At 31 October 2017

905,539

51,284

956,823

DEPRECIATION

At 1 November 2016

315

11,013

11,328

Charge for year

9,592

8,331

17,923

At 31 October 2017

9,907

19,344

29,251

NET BOOK VALUE

At 31 October 2017

895,632

31,940

927,572

At 31 October 2016

847,971

14,496

862,467

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2016

80,520

Additions

251,000

Distributions received/(paid)

(40

)

At 31 October 2017

331,480

NET BOOK VALUE

At 31 October 2017

331,480

At 31 October 2016

80,520

7.

DEBTORS

31.10.17

31.10.16

£

£

Amounts falling due within one year:

Trade debtors

545,435

622,991

Other debtors

263,321

255,258

808,756

878,249

Amounts falling due after more than one year:

Other debtors

818,558

770,558

Aggregate amounts

1,627,314

1,648,807

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Bank loans and overdrafts

15,170

14,731

Trade creditors

6,059

77,799

Amounts owed to group undertakings

36,652

10,325

Amounts owed to associates

67,137

-

Taxation and social security

243,286

49,477

Other creditors

37,016

219,377

405,320

371,709

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.17

31.10.16

£

£

Bank loans

527,064

542,858

Other creditors

75,000

100,000

602,064

642,858

10.	PROVISIONS FOR LIABILITIES

31.10.17

31.10.16

£

£

Deferred tax

13,737

2,754

Deferred

tax

£

Balance at 1 November 2016

2,754

Charge to Income Statement during year

10,983

Balance at 31 October 2017

13,737

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.17

31.10.16

value:

£

£

1,000,010

A Ordinary Shares

£0.01

10,000

10,000

Allotted and issued:

Number:

Class:

Nominal

31.10.17

31.10.16

value:

£

£

1,000,010

Share capital 2

£0.01

10,000

10,000

12.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 November 2016

784,508

1,522,112

2,306,620

Profit for the year

789,894

789,894

Dividends

(400,040

)

(400,040

)

At 31 October 2017

1,174,362

1,522,112

2,696,474

13.	RELATED PARTY DISCLOSURES

Directors

During the year, P A Austin paid for expenses on behalf of the company amounting to £4,268 (2016:£1,276). As

at the balance sheet date £354 (2016: £26) was owed to P A Austin is respect of these expenses.

During the year, N M Rutledge paid for expenses on behalf of the company amounting to £5,592 (2016: £1,383).

As at the balance sheet date £19 (2016: £53) was owed to N M Rutledge in respect of these expenses.

As at the balance sheet date, Other Debtors includes £385,279 in respect of P A Austin's 500,005 nil-paid B

Ordinary Shares. It also includes £385,279 in respect of N M Rutledge's 500,0005 nil-paid B Ordinary Shares.

Clubfinance Ltd

As at the balance sheet date, P K Rhoden and D J Scrivens were directors and shareholders of both Amberside

Advisors Ltd and Clubfinance Ltd.

Debentures have previously been given from Clubfinance Ltd to Amberside Advisors Ltd. During the year

Amberside Advisors Ltd repaid £125,000 of this debenture. The balance outstanding at the balance sheet date

was £75,000 (2016: £200,000). This debenture has been issued with a rate of interest of 10.2% per annum, with

a redemption premium of 10.2%.

During the year, Clubfinance Ltd provided services to Amberside Advisors Ltd amounting to a total of £425,046

(2016: £334,043).

During the year, Amberside Advisors Ltd provided services to Clubfinance Ltd amounting to a total of £797

(2016: £6,423).

As at the balance sheet date, the balance owed to Clubfinance Ltd was £67,137 (2016: £38,828).

Amberside Accounting Ltd (formally Clubfinance Management Services Ltd)

As at the balance sheet date, D J Scrivens and N M Rutledge were directors and shareholders of both Amberside

Advisors Ltd and Amberside Accounting Ltd.

Amberside Advisors Ltd purchased 80% of the issued share capital of Amberside Accounting Ltd on

incorporation for £800. This investment remains written down to £NIL.

Amberside Advisors Ltd holds indefinite unsecured debentures issued by Amberside Accounting Ltd totalling

£89,384 at a rate of interest of 0% per annum, with a redemption premium of 10.2%. This investment is written

down to £NIL.

Amberside Capital Ltd

As at the balance sheet date, P K Rhoden, N M Rutledge and D J Scrivens were directors and shareholders of

Amberside Advisors Ltd and Amberside Capital Ltd.

Amberside Advisors Ltd purchased 52% of the issued share capital of Amberside Capital Ltd on incorporation

for £520. On 30 October 2015 Amberside Advisors Ltd purchased 80% of the issued non-cumulative preference

share capital in Amberside Capital Ltd for £80,000.

During the year, Amberside Advisors Ltd distributed 4% of its holding in Amberside Capital Ltd to the

shareholders, retaining a 48% ownership in Amberside Capital Ltd at the balance sheet date.

During the year, Amberside Capital Ltd provided services to Amberside Advisors Ltd amounting to a total of

£86,697 (2016: £112,325).

As at the balance sheet date, the balance owed to Amberside Capital Ltd was £36,652 (2016: £9,463).

Amberside Energy Ltd

As at the balance sheet date D J Scrivens was a director and shareholder of both Amberside Advisors Ltd and

Amberside Energy Ltd. As at the balance sheet date P K Rhoden was a shareholder of both Amberside Advisors

Ltd and Amberside Energy Ltd.

During the year, Amberside Advisors Ltd purchased 20% of the issued ordinary share capital of Amberside

Energy Ltd for £30,000.

During the year, Amberside Energy Ltd provided services to Amberside Advisors Ltd amounting to a total of

£14,500 (2016: £4,000).

As at the balance sheet date, the balance owed to Amberside Energy Ltd was £NIL (2016: £900).

During the year, Amberside Advisors Ltd issued two debentures to Amberside Energy Ltd. The first debenture

for £18,000 has been issued with a rate of interest of 10.2% per annum, with no redemption premium. The

second debenture for £30,000 has been issued with a rate of interest of 5.1% per annum, with no redemption

premium. As at the balance sheet date, both debentures were outstanding totalling £48,000.

14.	ULTIMATE CONTROLLING PARTY

No party has controlling share interest. The four directors as at the balance sheet date each own 25% of the

ordinary share capital of the company.