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No description of principal activity
2021-04-01
Sage Accounts Production Advanced 2020 - FRS102_2019
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xbrli:shares
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SC491365
2021-04-01
2022-03-31
SC491365
2022-03-31
SC491365
2021-03-31
SC491365
2020-04-01
2021-03-31
SC491365
2021-03-31
SC491365
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2022-03-31
SC491365
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2022-03-31
SC491365
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2022-03-31
SC491365
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2021-03-31
SC491365
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2022-03-31
SC491365
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2021-03-31
SC491365
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2022-03-31
SC491365
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2021-03-31
SC491365
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2022-03-31
SC491365
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SC491365
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2022-03-31
SC491365
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2022-03-31
SC491365
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2021-04-01
2022-03-31
SC491365
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2021-04-01
2022-03-31
SC491365
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2021-04-01
2022-03-31
SC491365
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2021-03-31
SC491365
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2021-03-31
SC491365
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2022-03-31
SC491365
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2022-03-31
COMPANY REGISTRATION NUMBER:
SC491365
Filleted Unaudited Financial Statements
|
|
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Ampelius Trading Limited
|
|
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Ampelius Trading Limited for the year ended 31 March 2022, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am 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 my engagement letter dated 23 February 2015. My work has been undertaken solely to prepare for your approval the financial statements of Ampelius Trading Limited and state those matters that I 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, I do not accept or assume responsibility to anyone other than Ampelius Trading Limited and its director for my work or for this report.
It is your duty to ensure that Ampelius Trading Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ampelius Trading Limited. You consider that Ampelius Trading Limited is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of Ampelius Trading Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
CAMERON & CO
Chartered accountants
48 Court Street
Haddington
East Lothian
EH41 3NP
22 August 2022
Statement of Financial Position
|
|
31 March 2022
Fixed assets
Tangible assets
|
5
|
|
6,550
|
12,666
|
|
|
|
|
|
Current assets
Debtors
|
6
|
22,635
|
|
16,520
|
Cash at bank and in hand
|
11,788
|
|
13,066
|
|
--------
|
|
--------
|
|
34,423
|
|
29,586
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
108,977
|
|
124,171
|
|
---------
|
|
---------
|
Net current liabilities
|
|
74,554
|
94,585
|
|
|
--------
|
--------
|
Total assets less current liabilities
|
|
(
68,004)
|
(
81,919)
|
|
|
--------
|
--------
|
Net liabilities
|
|
(
68,004)
|
(
81,919)
|
|
|
--------
|
--------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
1
|
1
|
Profit and loss account
|
|
(
68,005)
|
(
81,920)
|
|
|
--------
|
--------
|
Shareholders deficit
|
|
(
68,004)
|
(
81,919)
|
|
|
--------
|
--------
|
|
|
|
|
These 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 Section 1A of 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 income and retained earnings has not been delivered.
For the year ending 31 March 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 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 financial statements
.
Statement of Financial Position (continued)
|
|
31 March 2022
These financial statements were approved by the
board of directors
and authorised for issue on
25 August 2022
, and are signed on behalf of the board by:
Company registration number:
SC491365
Notes to the Financial Statements
|
|
Year ended 31 March 2022
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 financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The operational phase, following development, continues to see customer and use grow. 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 sales forecasts. The company is pleased to report a profit again this year and expects this to continue going forward.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
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
|
|
Website
|
-
|
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2021:
1
).
5.
Tangible assets
|
Equipment
|
Website
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 April 2021
|
2,147
|
106,377
|
108,524
|
Additions
|
479
|
–
|
479
|
|
-------
|
---------
|
---------
|
At 31 March 2022
|
2,626
|
106,377
|
109,003
|
|
-------
|
---------
|
---------
|
Depreciation
|
|
|
|
At 1 April 2021
|
1,675
|
94,183
|
95,858
|
Charge for the year
|
589
|
6,006
|
6,595
|
|
-------
|
---------
|
---------
|
At 31 March 2022
|
2,264
|
100,189
|
102,453
|
|
-------
|
---------
|
---------
|
Carrying amount
|
|
|
|
At 31 March 2022
|
362
|
6,188
|
6,550
|
|
-------
|
---------
|
---------
|
At 31 March 2021
|
472
|
12,194
|
12,666
|
|
-------
|
---------
|
---------
|
|
|
|
|
6.
Debtors
|
2022
|
2021
|
|
£
|
£
|
Trade debtors
|
21,863
|
10,420
|
Other debtors
|
772
|
6,100
|
|
--------
|
--------
|
|
22,635
|
16,520
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2022
|
2021
|
|
£
|
£
|
Trade creditors
|
–
|
1,017
|
Social security and other taxes
|
99
|
–
|
Interest payable on loan from director
|
6,093
|
7,669
|
Other creditors
|
102,785
|
115,485
|
|
---------
|
---------
|
|
108,977
|
124,171
|
|
---------
|
---------
|
|
|
|
8.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.