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REGISTERED NUMBER: 10708266 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

ADVANTAGE ACCOUNTANCY & ADVISORY LTD

ADVANTAGE ACCOUNTANCY & ADVISORY LTD (REGISTERED NUMBER: 10708266)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


ADVANTAGE ACCOUNTANCY & ADVISORY LTD (REGISTERED NUMBER: 10708266)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 207,727 155,127
Cash at bank 326,476 127,253
534,203 282,380
CREDITORS
Amounts falling due within one year 6 318,969 212,132
NET CURRENT ASSETS 215,234 70,248
TOTAL ASSETS LESS CURRENT LIABILITIES 215,234 70,248

CREDITORS
Amounts falling due after more than one
year

7

148,719

69,069
NET ASSETS 66,515 1,179

CAPITAL AND RESERVES
Called up share capital 9 104 104
Retained earnings 66,411 1,075
SHAREHOLDERS' FUNDS 66,515 1,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

ADVANTAGE ACCOUNTANCY & ADVISORY LTD (REGISTERED NUMBER: 10708266)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:




Mr S J Bickerton - Director



Mr M D Hislop - Director


ADVANTAGE ACCOUNTANCY & ADVISORY LTD (REGISTERED NUMBER: 10708266)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Advantage Accountancy & Advisory Ltd is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 10708266

Registered office: Advantage Accountancy & Advisory Ltd
5-7 Cathedral Road
Cardiff
CF11 9HA

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

ADVANTAGE ACCOUNTANCY & ADVISORY LTD (REGISTERED NUMBER: 10708266)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 41,928
AMORTISATION
At 1 April 2022
and 31 March 2023 41,928
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 189,298 155,127
Amounts recoverable on contract 18,429 -
207,727 155,127

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 78,578 28,977
Trade creditors 4,000 19,300
Taxation and social security 153,391 115,855
Other creditors 83,000 48,000
318,969 212,132

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 148,719 69,069

ADVANTAGE ACCOUNTANCY & ADVISORY LTD (REGISTERED NUMBER: 10708266)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 78,578 28,977

Amounts falling due between two and five years:
Bank loans - 2-5 years 148,719 69,069

Bank loans are secured by the directors of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,040 Ordinary 1p 51 51
3,800 A Ordinary 1p 38 38
100 B Ordinary 1p 1 1
520 F Ordinary 1p 5 5
420 G Ordinary 1p 4 4
520 H Ordinary 1p 5 5
104 104

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S J Bickerton.

The ultimate controlling party is Mr S J Bickerton.