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Company Registration No. 05396245 (England and Wales)
Advent Research Ltd Unaudited accounts for the year ended 31 March 2023
Advent Research Ltd Unaudited accounts Contents
Page
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Advent Research Ltd Company Information for the year ended 31 March 2023
Directors
J M Saker S R Cufflin
Secretary
S R Cufflin
Company Number
05396245 (England and Wales)
Registered Office
9 Ryde Avenue Leicester Leicestershire LE2 3RD England
Accountants
R Suggett Ridgeway House 59 Burnside Drive Bramcote Hills Nottingham NG9 3EF
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Advent Research Ltd Accountants' report
Accountants' report to the board of directors of Advent Research Ltd on the preparation of the unaudited statutory accounts for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Advent Research Ltd for the year ended 31 March 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Advent Research Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Advent Research Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Advent Research Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Advent Research Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Advent Research Ltd. You consider that Advent Research Ltd 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 accounts of Advent Research Ltd. 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 accounts.
R Suggett Ridgeway House 59 Burnside Drive Bramcote Hills Nottingham NG9 3EF 25 October 2023
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Advent Research Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1 
185 
Current assets
Debtors
1,206 
97 
Cash at bank and in hand
29,835 
33,456 
31,041 
33,553 
Creditors: amounts falling due within one year
(1,053)
(2,349)
Net current assets
29,988 
31,204 
Total assets less current liabilities
29,989 
31,389 
Provisions for liabilities
Deferred tax
- 
(35)
Net assets
29,989 
31,354 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
29,889 
31,254 
Shareholders' funds
29,989 
31,354 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by
J M Saker Director Company Registration No. 05396245
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Advent Research Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Advent Research Ltd is a private company, limited by shares, registered in England and Wales, registration number 05396245. The registered office is 9 Ryde Avenue, Leicester, Leicestershire, LE2 3RD, England.
2
Compliance with accounting standards
Statement of compliance The financial statements of the company for the year ended 31 March 2023 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland ( FRS 102 Section 1A ) issued by the Financial Reporting Council and in accordance with the Companies act 2006.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared under the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered to be material in relation to the company's financial statements.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation. The charge to depreciation is calculated to write off the original cost of tangible fixed assets less their estimated residual value over their expected useful lives at the following rates:- The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.
Fixtures & fittings
10% per annum straight line
Computer equipment
25% per annum straight line
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value by the directors based on estimates of the stage of completion of projects.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial . In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand and demand deposits with banks.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
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Advent Research Ltd Notes to the Accounts for the year ended 31 March 2023
Taxation
Current tax represents the amount expected to be paid or received in respect of the taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
230 
4,495 
4,725 
At 31 March 2023
230 
4,495 
4,725 
Depreciation
At 1 April 2022
230 
4,310 
4,540 
Charge for the year
- 
184 
184 
At 31 March 2023
230 
4,494 
4,724 
Net book value
At 31 March 2023
- 
1 
1 
At 31 March 2022
- 
185 
185 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
186 
97 
Other debtors
1,020 
- 
1,206 
97 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
418 
1,719 
Accruals
635 
630 
1,053 
2,349 
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Advent Research Ltd Notes to the Accounts for the year ended 31 March 2023
7
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
- 
35 
2023 
2022 
£ 
£ 
Provision at start of year
35 
70 
Credited to the profit and loss account
(35)
(35)
Provision at end of year
- 
35 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
45 Ordinary shares A of £1 each
45 
45 
45 Ordinary shares B of £1 each
45 
45 
5 Ordinary shares C of £1 each
5 
5 
5 Ordinary shares D of £1 each
5 
5 
100 
100 
9
Transactions with related parties
There are no transactions with related parties.
10
Controlling party
Mr J M Saker is the ultimate controlling party of the company by virtue of owning 60% of the ordinary share capital.
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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