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No description of principal activity
2017-04-01
Sage Accounts Production Advanced 2017 Update 2 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
SC491365
2017-04-01
2018-03-31
SC491365
2018-03-31
SC491365
2017-03-31
SC491365
2016-04-01
2017-03-31
SC491365
2017-03-31
SC491365
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2017-04-01
2018-03-31
SC491365
bus:LeadAgentIfApplicable
2017-04-01
2018-03-31
SC491365
bus:Director1
2017-04-01
2018-03-31
SC491365
core:WithinOneYear
2018-03-31
SC491365
core:WithinOneYear
2017-03-31
SC491365
core:ShareCapital
2018-03-31
SC491365
core:ShareCapital
2017-03-31
SC491365
core:RetainedEarningsAccumulatedLosses
2018-03-31
SC491365
core:RetainedEarningsAccumulatedLosses
2017-03-31
SC491365
bus:FRS102
2017-04-01
2018-03-31
SC491365
bus:AuditExemptWithAccountantsReport
2017-04-01
2018-03-31
SC491365
bus:AbridgedAccounts
2017-04-01
2018-03-31
SC491365
bus:SmallCompaniesRegimeForAccounts
2017-04-01
2018-03-31
SC491365
bus:PrivateLimitedCompanyLtd
2017-04-01
2018-03-31
SC491365
core:OfficeEquipment
2017-04-01
2018-03-31
Statement of Consent to Prepare Abridged Financial Statements
|
|
All of the members of Ampelius Trading Limited have consented to the preparation of the abridged statement of financial position for the year ending 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
SC491365
Filleted Unaudited Abridged Financial Statements
|
|
Abridged Financial Statements
|
|
Year ended 31 March 2018
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements
|
1
|
|
|
Abridged statement of financial position
|
2
|
|
|
Notes to the abridged financial statements
|
4
|
|
|
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Ampelius Trading Limited
|
|
Year ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Ampelius Trading Limited for the year ended 31 March 2018, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Ampelius Trading Limited in accordance with the terms of our engagement letter dated 23 February 2015. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Ampelius Trading Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ampelius Trading Limited and its director for our work or for this report.
It is your duty to ensure that Ampelius Trading Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ampelius Trading Limited. You consider that Ampelius Trading Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of Ampelius Trading Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
CAMERON & CO
Chartered accountant
48 Court Street
Haddington
East Lothian
EH41 3NP
15 August 2018
Abridged Statement of Financial Position
|
|
31 March 2018
Fixed assets
Intangible assets
|
5
|
|
29,952
|
57,665
|
Tangible assets
|
6
|
|
212
|
350
|
|
|
--------
|
--------
|
|
|
30,164
|
58,015
|
|
|
|
|
|
Current assets
Debtors
|
854
|
|
6,668
|
Cash at bank and in hand
|
3,113
|
|
502
|
|
-------
|
|
-------
|
|
3,967
|
|
7,170
|
|
|
|
|
Creditors: amounts falling due within one year
|
155,743
|
|
145,240
|
|
---------
|
|
---------
|
Net current liabilities
|
|
151,776
|
138,070
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
(
121,612)
|
(
80,055)
|
|
|
---------
|
--------
|
Net liabilities
|
|
(
121,612)
|
(
80,055)
|
|
|
---------
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
1
|
1
|
Profit and loss account
|
|
(
121,613)
|
(
80,056)
|
|
|
---------
|
--------
|
Members deficit
|
|
(
121,612)
|
(
80,055)
|
|
|
---------
|
--------
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2018 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 abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
Abridged Statement of Financial Position (continued)
|
|
31 March 2018
These abridged financial statements were approved by the
board of directors
and authorised for issue on
15 August 2018
, and are signed on behalf of the board by:
Company registration number:
SC491365
Notes to the Abridged Financial Statements
|
|
Year ended 31 March 2018
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 8 Glassel Park Road, Longniddry, East Lothian, EH32 0NY.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The operational phase, following development, has started well with 30 companies subscribing to the site. Sales revenue will continue to be supplemented with capital investment from the director as recorded under Other Creditors as and when required. Operational costs continue to be carefully controlled to ensure alignment with the market penetration rates. The company's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was -£3,276 (2017: -£17,602).
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
In accordance with SAAP 13 the company capitalised the costs incurred on the development of the online trading platform. All research costs involved in the project were taken to the profit and loss account accordingly. The development costs are to be amortised over 3 years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Development costs
|
-
|
33% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research and development expenditure is written off in the year in which it is incurred. Development expenditure incurred on clearly defined projects whose outcome can be assessed with reasonable certainty is carried forward and amortisation is charged from that time over the lesser of the life of the project or three years.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Office Equipment
|
-
|
33% straight line
|
|
|
|
|
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2017:
1
).
5.
Intangible assets
|
£
|
Cost
|
|
At 1 April 2017
|
86,497
|
Additions
|
1,680
|
|
--------
|
At 31 March 2018
|
88,177
|
|
--------
|
Amortisation
|
|
At 1 April 2017
|
28,832
|
Charge for the year
|
29,393
|
|
--------
|
At 31 March 2018
|
58,225
|
|
--------
|
Carrying amount
|
|
At 31 March 2018
|
29,952
|
|
--------
|
At 31 March 2017
|
57,665
|
|
--------
|
|
|
6.
Tangible assets
|
£
|
Cost
|
|
At 1 April 2017
|
707
|
Additions
|
142
|
|
----
|
At 31 March 2018
|
849
|
|
----
|
Depreciation
|
|
At 1 April 2017
|
357
|
Charge for the year
|
280
|
|
----
|
At 31 March 2018
|
637
|
|
----
|
Carrying amount
|
|
At 31 March 2018
|
212
|
|
----
|
At 31 March 2017
|
350
|
|
----
|
|
|
7.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.