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Ambrose & Co. (Mayfair), Limited - Accounts to registrar (filleted) - small 18.1
PTP Accounts Production
v18.1.1.51
00142036
Board of Directors
1.5.16
31.10.17
31.10.17
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REGISTERED NUMBER: 00142036 (England and Wales) |
Financial Statements for the Period 1 May 2016 to 31 October 2017 |
Ambrose & Co. (Mayfair), Limited |
Notes to the Financial Statements |
3 |
|
|
REGISTERED OFFICE: |
123 Mount Street |
|
REGISTERED NUMBER: |
00142036 (England and Wales) |
|
ACCOUNTANTS: |
K Khiroya, AFA |
Investments |
4 |
153,252 |
|
153,252 |
|
|
Amounts falling due within one year |
6 |
164,725 |
|
81,651 |
|
|
NET CURRENT LIABILITIES |
(106,106 |
) |
(65,886 |
) |
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
47,146 |
|
87,366 |
|
|
Called up share capital |
9,834 |
|
13,112 |
|
|
Retained earnings |
7 |
37,312 |
|
74,254 |
|
|
SHAREHOLDERS' FUNDS |
47,146 |
|
87,366 |
|
|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2017. |
The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors on 29 June 2018 and were signed on its behalf by: |
|
Ambrose & Co. (Mayfair), Limited is a private company, limited by shares , registered in England and Wales. |
|
The company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
|
Basis of preparing the financial statements |
|
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
|
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
|
These financial statements for the period ended 31 October 2017 are the first that are prepared in accordance |
|
with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the |
|
date of transition to FRS 102 Section 1A is 1 May 2015. |
|
Preparation of consolidated financial statements |
| The financial statements contain information about Ambrose & Co. (Mayfair), Limited as an individual company |
| and do not contain consolidated financial information as the parent of a group. The company has taken the option |
| under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
|
Investments in subsidiaries |
|
Investments in subsidiary undertakings are recognised at cost. |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past |
|
event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be |
|
Cash and cash equivalents |
|
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with |
|
banks, other short-term liquid investments with original maturities of three months or less, and |
|
bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
|
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 |
|
Basic financial instruments, which include trade and other receivables and payables, cash and bank |
|
balances, are recognised at amortised cost. |
|
Advanced financial instruments which include interest rate swaps and forward foreign exchange contracts, are |
|
initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. |
3. |
EMPLOYEES AND DIRECTORS |
|
The average number of employees during the period was 3 . |
4. |
FIXED ASSET INVESTMENTS |
|
and 31 October 2017 |
153,252 |
|
|
|
At 31 October 2017 |
153,252 |
|
|
5. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Amounts owed by group undertakings |
42,854 |
|
- |
|
|
|
Other debtors |
15,765 |
|
15,765 |
|
|
6. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Amounts owed to group undertakings |
1,500 |
|
78,232 |
|
|
|
Taxation and social security |
800 |
|
2,115 |
|
|
|
Other creditors |
162,425 |
|
1,304 |
|
|
| On the 16 November 2016 the company purchased its own 1,221 ordinary shares of £2 each and 418 preference |
| shares of £2 each at a premium of £1,650,000. |