Registered number
03015127
Advance Financial Services Limited
Report and Accounts
For the Year ended
31 January 2024
Business Management Services
Unit 2 Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
Advance Financial Services Limited
Registered number: 03015127
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 380 463
Current assets
Debtors 4 1,799 456
Cash at bank and in hand 1,795 4,791
3,594 5,247
Creditors: amounts falling due within one year 5 (1) (1,739)
Net current assets 3,593 3,508
Net assets 3,973 3,971
Capital and reserves
Called up share capital 2 2
Profit and loss account 3,971 3,969
Shareholder's funds 3,973 3,971
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D M Rowland
Director
Approved by the board on 1 March 2024
Advance Financial Services Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised when the service is completed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 5 Years
Debtors
Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office equipment
£
Cost
At 1 February 2023 26,030
At 31 January 2024 26,030
Depreciation
At 1 February 2023 25,567
Charge for the year 83
At 31 January 2024 25,650
Net book value
At 31 January 2024 380
At 31 January 2023 463
4 Debtors 2024 2023
£ £
Trade debtors 1,799 456
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 1,737
Other taxes and social security costs 1 2
1 1,739
6 Controlling party
The company is controlled by the director who owns 100% of the issued share capital.
7 Other information
Advance Financial Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
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