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31/03/2021
2021-03-31
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No description of principal activities is disclosed
2020-04-01
Sage Accounts Production 2020 Update 1 - FRS102_2019
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2020-04-01
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NI615728
1
2020-04-01
2021-03-31
Company registration number:
NI615728
Anaconda Global Holdings Ltd
Trading as
Anaconda Global Holdings Ltd
Filleted financial statements
31 March 2021
Anaconda Global Holdings Ltd
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Notes to the financial statements
Anaconda Global Holdings Ltd
Directors and other information
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Directors
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Mr Alistair Forsyth
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Mr Martin Quinn
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Mr Jonathan Jay Nartatez
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Mr Sean Kevin McLanahan
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Mr Cory Haward Jenson
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Company number
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NI615728
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Registered office
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Ardboe Business Park
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Kilmascally Road
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Dungannon
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Co Tyrone
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BT71 5BJ
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Business address
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Ardboe Business Park
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Kilmascally Road
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Dungannon
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Co Tyrone
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BT71 5BJ
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Auditor
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Corr & Corr
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2nd Floor
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The Cornmill
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Coalisland
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Co Tyrone
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BT71 4LP
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Bankers
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Bank of Ireland
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Market Street
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Magherafelt
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Co Derry
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BT45 6EE
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Anaconda Global Holdings Ltd
Directors responsibilities statement
Year ended 31 March 2021
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
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). 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 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;
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make judgments and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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.
Anaconda Global Holdings Ltd
Statement of financial position
31 March 2021
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2021
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2020
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Note
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£
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£
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£
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£
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Fixed assets
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Investments
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4
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900
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900
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_______
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_______
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900
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900
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Current assets
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Debtors
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5
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35,054
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35,054
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_______
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_______
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35,054
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35,054
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Creditors: amounts falling due
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within one year
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6
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(
23,131)
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(
22,791)
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_______
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_______
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Net current assets
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11,923
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12,263
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_______
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_______
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Total assets less current liabilities
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12,823
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13,163
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_______
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_______
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Net assets
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12,823
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13,163
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_______
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_______
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Capital and reserves
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Called up share capital
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1,000
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1,000
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Profit and loss account
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11,823
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12,163
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_______
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_______
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Shareholders funds
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12,823
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13,163
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_______
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_______
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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.
These financial statements were approved by the
board of directors
and authorised for issue on
09 November 2021
, and are signed on behalf of the board by:
Mr Alistair Forsyth
Mr Martin Quinn
Director
Director
Company registration number:
NI615728
Anaconda Global Holdings Ltd
Notes to the financial statements
Year ended 31 March 2021
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Ardboe Business Park, Kilmascally Road, Dungannon, Co Tyrone, BT71 5BJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Cash
Cash and cash equivalients include cash on hand, deposits held at call with banks, other short term liquid investments with maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Share Capital
Ordinary Shares are classified as equity.
Restatement
Certain comparative information has been restated to reflect fairer comparison with the current year. This reclassification has had no impact on the reporting results for the year ended 31 March 2020 nor on the shareholders' funds as at 31 March 2020.
Comparative Information
Comparative information has been reclassified where necessary to conform to current year presentation.
4.
Investments
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Shares in group undertakings and participating interests
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Total
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£
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£
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Cost
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At 1 April 2020 and 31 March 2021
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900
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900
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_______
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_______
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Impairment
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At 1 April 2020 and 31 March 2021
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-
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-
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_______
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_______
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Carrying amount
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At 31 March 2021
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900
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900
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_______
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_______
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At 31 March 2020
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900
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900
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_______
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_______
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Anaconda Global Holdings Ltd
is the sole shareholder of Anaconda Equipment International Ltd (NI054419). This investment is carried at cost.
5.
Debtors
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2021
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2020
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£
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£
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Other debtors
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35,054
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35,054
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_______
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_______
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Included within other debtors is an amount owed from wholly owned subsidiary, Anaconda Equipment International Ltd amounting to £34,954 (2020: £34,954
).
6.
Creditors: amounts falling due within one year
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2021
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2020
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£
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£
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Amounts owed to group undertakings and undertakings in which the company has a participating interest
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17,983
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17,983
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Corporation tax
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(
2)
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(
2)
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Other creditors
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5,150
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4,810
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_______
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_______
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23,131
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22,791
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_______
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_______
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7.
Events after the end of the reporting period
On 31 January 2020, the World Health Organisation (WHO) announced a global health emergency in relation to the COVID 19 outbreak and the risks to the international community as the virus spreads globally beyond its point of origin. Because of the rapid increase in exposure globally, on 11 March 2020, the WHO classified the COVID 19 outbreak as a pandemic. The directors of the company are actively monitoring the situation and taking actions were possible to ensure that the business can manage through any impact that it may face as a result of the pandemic. At present no current information has been identified by which would affect the carrying value of amounts held on the Statement of Financial Position as at 31 March 2021.
8.
Limitation of auditors liability
The terms of agreement regarding the limitation of the auditors liability are set out in the engagement letter, in accordance with Section 538 Companies Act 2006.
9.
Summary audit opinion
The auditor's report for the year dated
09 November 2021
was unqualified.
The senior statutory auditor was
Brendan Corr
for and on behalf of
Corr & Corr
10.
Related party transactions
The company owns the entire share capital of Anaconda Equipment International Ltd (NI054419), a company incorporated in the United Kingdom. No other group financial statements are included in the results of the company. During in the financial year Anaconda Equipment International Ltd paid for invoices on behalf of
Anaconda Global Holdings Ltd
of £2,000. At the year end Anaconda Equipment International Ltd was owed £19,983 (2020: £19,983). As at the year end Anaconda Global Holdings Ltd
was owed £34,954 from Anaconda Equipment International Ltd (2020: £34,954). Related party transactions were conducted on an arms length basis under normal trading terms.
11.
Controlling party
During the year company directors
Mr Alistair Forsyth
and Mr Martin Quinn
disposed of their shareholdings to McLanahan Corporation (Registration Number 225557) a company registered in Pennsylvania. McLanahan Corporation
is deemed to be the controlling party of Anaconda Global Holdings Ltd
.