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REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 |
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AMBER LANGIS LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 |
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FOR |
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AMBER LANGIS LIMITED |
AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Independent Auditor's Report | 5 |
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Statement of Income and Retained Earnings | 9 |
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Statement of Financial Position | 10 |
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Notes to the Financial Statements | 11 |
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AMBER LANGIS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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INDEPENDENT AUDITOR: |
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Two Snowhill |
Birmingham |
B4 6GA |
AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 JULY 2022 |
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The Directors present their report with the financial statements of Amber Langis Limited ("the Company") for the year-ended 31 July 2022. |
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PRINCIPAL ACTIVITIES |
The principal activities of the Company in the year under review were those of: |
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- | the design, installation, service and hire of traffic control and traffic management systems; and |
- | the provision of Variable Message Systems (VMS). |
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The Company is part of the H W Martin Group of Companies ("the Group") headed by H W Martin Holdings Limited. |
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REVIEW OF BUSINESS |
The Company's profit for the financial year is £41,664 (2021: £435,658 profit). |
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The Company's key financial and performance indicators for the year are: |
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1. | Turnover increased by 3.5% to £5.1 million (2021: increased by 12% to £5 million); and |
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2. | Shareholders' funds increased by 2% to £1.8 million (2021: increased by 32% to £1.8 million) |
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The Company has continued to perform profitably. |
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The greater proportion of Company's activity has increasingly been procured and generated by works delivered for the parent company H W Martin (Traffic Management) Limited and, with the integration of the management structure of the two companies, Amber Langis will operate as a trading division of H W Martin (Traffic Management) Limited from 1 November 2022. |
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Capital investment in vehicles and equipment has continued; substantially replacing hired vehicles with company owned vehicles and in equipment to enable the effective delivery of a major contract for Thames Water for H W Matin (Traffic Management) Limited. |
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FUTURE DEVELOPMENTS |
From 1 November 2022, all Amber Langis Limited trade will be recognised in the parent company, H W Martin (Traffic Management) Limited, in a separate Amber Langis trading division. See the "Going Concern" section of this report for further details. |
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EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 August 2021 to the date of this report. |
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BREXIT RISK |
The Directors are continuing to monitor the potential impact on its customers and suppliers, market access and possible effects on foreign currency exchange rates. |
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AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 JULY 2022 |
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GOING CONCERN |
From 1 November 2022, all Amber Langis Limited trade will be recognised in the parent company, H W Martin (Traffic Management) Limited, in a separate Amber Langis trading division. Amber Langis Limited then ceased to trade. All current assets and current liabilities as at 31 October 2022 will remain within Amber Langis Limited until fully repaid. All fixed assets will be transferred to H W Martin (Traffic Management) Limited for consideration equal to their carrying value as at 31 October 2022. The Directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern. |
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No adjustments have been made as a result of preparing the financial statements on a basis other than going concern. |
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ENGAGEMENT WITH EMPLOYEES |
A policy of equal opportunity employment is followed at all times by the Company. During the year, the policy of providing employees with information about the Company has been continued through internal media methods in which employees have also been encouraged to present their suggestions and views on the Company's performance. Regular meetings are held between local management and employees to allow a free flow of information and ideas. |
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The Company gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the Company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate. |
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DIRECTORS' RESPONSIBILITIES STATEMENT |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITOR |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Company's auditor is unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the Company's auditor is aware of that information. |
AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 JULY 2022 |
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AUDITOR |
The auditor, BDO LLP, statutory auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF |
AMBER LANGIS LIMITED |
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Opinion on the financial statements |
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In our opinion the financial statements: |
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- | give a true and fair view of the state of the Company's affairs as at 31 July 2022 and of its profit for the year then ended; |
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- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
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- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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We have audited the financial statements of Amber Langis Limited ("the Company") for the year ended 31 July 2022 which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). |
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Basis for opinion |
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We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Independence |
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We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. |
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Emphasis of matter - basis of preparation other than that of a going concern |
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We draw attention to Note 2 to the financial statements which explains that from 1 November 2022 the company ceased to trade and therefore the Directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than that of going concern as described in Note 2. Our opinion is not modified in respect of this matter. |
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Other information |
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The Directors are responsible for the other information. The other information comprises the information included in the Report of the Directors, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. |
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We have nothing to report in this regard. |
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF |
AMBER LANGIS LIMITED |
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Other Companies Act 2006 reporting |
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In our opinion, based on the work undertaken in the course of the audit: |
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- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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- | the Report of the Directors has been prepared in accordance with applicable legal requirements. |
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In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors. |
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We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: |
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- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
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- | the financial statements are not in agreement with the accounting records and returns; or |
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- | certain disclosures of Directors' remuneration specified by law are not made; or |
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- | we have not received all the information and explanations we require for our audit; or |
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- | the Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Report of the Directors and from the requirement to prepare a Strategic Report. |
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Responsibilities of Directors |
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As explained more fully in the Directors' responsibilities statement, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. |
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Auditor's responsibilities for the audit of the financial statements |
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Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
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Extent to which the audit was capable of detecting irregularities, including fraud |
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Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
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In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: |
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF |
AMBER LANGIS LIMITED |
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Auditor's responsibilities for the audit of the financial statements (continued) |
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Extent to which the audit was capable of detecting irregularities, including fraud (continued) |
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- | We made enquires of management and the directors concerning the Company's policies and procedures relating to: |
- | identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; |
- | detecting and responding to the risks of fraud and whether they had knowledge of any actual, suspected or alleged fraud; and |
- | the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. |
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We corroborated our enquires through the review of board minutes. |
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- | We obtained an understanding of the legal and regulatory frameworks applicable to the Company based on our understanding of the business, sector experience and discussions with management. The most significant considerations for the Company are compliance with UK Accounting Standards, the Companies Act 2006, corporate taxes, VAT legislation, employment taxes and health and safety legislation. |
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- | We discussed amongst the engagement team to assess how and where fraud might occur in the financial statements, any potential indicators of fraud and non-compliance with laws and regulation. |
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Based on our understanding of the environment and assessment of the incentive and opportunity for fraud and non-compliance with laws and regulations gained from the above work we designed and executed the following procedures: |
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- | We reviewed correspondence with the relevant authorities to identify any irregularities or instances of non-compliance with laws and regulations. |
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- | We tested the appropriateness of accounting journals and other adjustments made in the preparation of the financial statements. We obtained a complete population of all journals in the year and test any which we considered were indicative of management override. |
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- | We reviewed the Company's accounting policies for non-compliance with relevant standards. Our work also included considering significant accounting estimates for evidence of misstatement or possible bias and testing any significant transactions that appeared to be outside the normal course of business. |
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- | We also tested manual journals posted to revenue that were either material or fell outside of our expectations based on our understanding of the Company, agreeing them to supporting documentation to check that they were appropriate, correctly recorded and supported by appropriate evidence. |
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We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
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Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. |
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A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. |
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF |
AMBER LANGIS LIMITED |
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Use of our report |
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This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Two Snowhill |
Birmingham |
B4 6GA |
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BDO LLP is a limited liability partnership registered in England and Wales (with |
registered number OC305127). |
AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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STATEMENT OF INCOME AND |
RETAINED EARNINGS |
FOR THE YEAR ENDED 31 JULY 2022 |
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2022 | 2021 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales | ( |
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GROSS PROFIT |
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Administrative expenses | ( |
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PROFIT BEFORE TAXATION | 5 |
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Tax on profit | ( |
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PROFIT FOR THE FINANCIAL YEAR |
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Retained earnings at beginning of year |
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RETAINED EARNINGS AT END OF
YEAR |
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AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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STATEMENT OF FINANCIAL POSITION |
31 JULY 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
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CURRENT ASSETS |
Debtors: amounts falling due within one
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8 |
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Cash at bank and in hand |
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CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR |
9 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors and authorised for issue on
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AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2022 |
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1. | STATUTORY INFORMATION |
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Amber Langis Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
From 1 November 2022, all Amber Langis Limited trade will be recognised in the parent company, H W Martin (Traffic Management) Limited, in a separate Amber Langis trading division. Amber Langis Limited then ceased to trade. All current assets and current liabilities as at 31 October 2022 will remain within Amber Langis Limited until fully repaid. All fixed assets will be transferred to H W Martin (Traffic Management) Limited for consideration equal to their carrying value as at 31 October 2022. The Directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern. |
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No adjustments have been made as a result of preparing the financial statements on a basis other than going concern. |
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Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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i. Sale of services |
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The Company designs, installs and maintains traffic control and traffic management systems, and also provides Variable Message Systems (VMS). Turnover is determined by reference to the value of the work carried out to date in the accounting period in which the services are rendered and when the outcome of the contract can be estimated reliably. |
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The Company also hires to customers traffic control and traffic management systems. Turnover is recognised over the period of the hire in the accounting period in which the hire relates. |
AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and any accumulated impairment losses. Cost includes the original purchase price and expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
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Depreciation is charged so as to allocate the cost of assets less their residual value over the estimated useful lives. Depreciation is provided on the following basis: |
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Freehold Property |
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Plant & machinery |
12.5% -
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Motor vehicles |
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Land is not depreciated. |
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
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The carrying amount of any replacement component is derecognised. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life. |
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Repairs, maintenance and minor inspection costs are expenses as incurred. |
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Tangible assets are derecognised on disposal or when no future economic benefits are expected. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. |
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Impairment of non-financial assets |
At each statement of financial position date, non-financial assets not carried at fair value are assessed to determine whether there is an indication that the asset (or asset's cash generating unit ("CGU")) may be impaired. If there is such an indication, the recoverable amount of the asset (or asset's CGU) is compared to the carrying value of the asset (or asset's CGU). |
AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of basic financial assets and liabilities. The Company has chosen to adopt the Section 11 of FRS 102 in respect of financial instruments. |
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i. Financial assets |
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Basic financial assets, including trade and other debtors, amounts owed by group undertakings and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
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Such assets are subsequently carried at amortised cost using the effective interest method. |
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At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings. |
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If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of Income and Retained Earnings. |
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Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
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ii. Financial liabilities |
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Basic financial liabilities, including trade and other creditors and amounts owed to group undertakings that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method. |
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Financial liabilities are derecognised when the liability is extinguished (i.e. when the contractual obligation is discharged, cancelled or expires). |
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iii. Offsetting |
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Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation expense for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. |
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Current or deferred taxation assets and liabilities are not discounted. |
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i. Current tax |
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Current tax is the amount of tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. |
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ii. Deferred tax |
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Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These 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. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date, except that: |
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- | 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. |
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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 value of liabilities acquired and the amount that will be assessed for tax. |
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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. |
AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
i. Functional and presentational currency |
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The Company's functional and presentation currency is the pound sterling. |
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ii. Transactions and balances |
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Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. |
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At each period-end, foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. |
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Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings. |
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Employee benefits |
The Company provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans. |
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i. Short-term benefits |
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Short-term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. |
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ii. Defined contribution pension plans |
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The company operates a defined contribution pension scheme for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid, the Company has no further payment obligations. Contributions payable to the company's pension scheme are charged to the Statement of Income and Retained Earnings in the period to which they relate. Amounts not paid are shown in other creditors as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. |
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3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
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Preparation of the financial statements did not require management to make any significant judgements or estimates. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
|
AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
|
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5. | PROFIT BEFORE TAXATION |
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The profit is stated after charging/(crediting): |
|
2022 | 2021 |
£ | £ |
Depreciation - owned assets |
|
|
Profit on disposal of fixed assets | ( |
) | ( |
) |
Pension costs | 51,494 | 50,495 |
|
6. | AUDITORS' REMUNERATION |
2022 | 2021 |
£ | £ |
Fees payable to the Company's auditor for the audit of the
Company's financial statements |
3,125 |
3,000 |
Taxation compliance services |
|
|
|
7. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 August 2021 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
|
( |
) | ( |
) |
At 31 July 2022 |
|
|
|
|
Depreciation |
At 1 August 2021 |
|
|
|
|
Charge for year |
|
|
|
|
Eliminated on disposal |
|
|
( |
) | ( |
) |
At 31 July 2022 |
|
|
|
|
Net book value |
At 31 July 2022 |
|
|
|
|
At 31 July 2021 |
|
|
|
|
|
Included in cost of freehold property is freehold land of £375,000 (2021: £375,000) which is not depreciated. |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
VAT |
|
|
Prepayments and accrued income |
|
|
|
|
AMBER LANGIS LIMITED (REGISTERED NUMBER: 06754410) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2022 |
|
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
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Amounts owed by group undertakings are interest free and repayable on demand. |
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Trade debtors are stated after provisions for impairment of £12,522 (2021: £Nil). Impairment losses recognised in the Statement of Income and Retained Earnings during the year amounted to £12,522 (2021: £428 reversed). |
|
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
|
Amounts owed to group undertakings are interest free and repayable on demand. |
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10. | RELATED PARTY DISCLOSURES |
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The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the Group. |
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11. | POST BALANCE SHEET EVENTS |
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From 1 November 2022, all Amber Langis Limited trade will be recognised in the parent company, H W Martin (Traffic Management) Limited, in a separate Amber Langis trading division. All current assets and current liabilities as at 31 October 2022 will remain within Amber Langis Limited until fully repaid. All fixed assets will be transferred to H W Martin (Traffic Management) Limited for consideration equal to their carrying value as at 31 October 2022. Amber Langis Limited will then become a dormant company. |
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The Directors believe the carrying value of all assets and liabilities is equal to its recoverable amount, therefore no write-downs have been recognised as at 31 July 2022. |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is H W Martin (Traffic Management) Limited. |
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The ultimate controlling party is
|
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The largest and smallest group of undertakings for which group accounts have been drawn up is that
headed by H W Martin Holdings Limited , which is incorporated in England and Wales . |
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Consolidated financial statements can be obtained from H W Martin Holdings Limited, Fordbridge Lane, Blackwell, Alfreton, Derbyshire, DE55 5JY . |