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REGISTERED NUMBER: 11150949 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Advanced Commerce Ltd

Advanced Commerce Ltd (Registered number: 11150949)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Advanced Commerce Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A Brown
A J Dancer
E W Ewing
J C Lewis





REGISTERED OFFICE: 20 North Audley Street
London
W1K 6LX





REGISTERED NUMBER: 11150949 (England and Wales)

Advanced Commerce Ltd (Registered number: 11150949)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 75,333 162,992
Tangible assets 5 10,934 13,242
86,267 176,234

CURRENT ASSETS
Debtors 6 179,710 225,148
Cash at bank 803,243 1,455,241
982,953 1,680,389
CREDITORS
Amounts falling due within one year 7 (361,714 ) (386,541 )
NET CURRENT ASSETS 621,239 1,293,848
TOTAL ASSETS LESS CURRENT
LIABILITIES

707,506

1,470,082

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 4,747,892 3,815,078
Retained earnings (4,040,388 ) (2,344,998 )
707,506 1,470,082

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

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

Advanced Commerce Ltd (Registered number: 11150949)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:





J C Lewis - Director


Advanced Commerce Ltd (Registered number: 11150949)

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

1. STATUTORY INFORMATION

Advanced Commerce Ltd 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.

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.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year 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
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.

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 10 (2022 - 6 ) .

Advanced Commerce Ltd (Registered number: 11150949)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 438,291
AMORTISATION
At 1 January 2023 275,299
Charge for year 87,659
At 31 December 2023 362,958
NET BOOK VALUE
At 31 December 2023 75,333
At 31 December 2022 162,992

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 27,667
Additions 6,145
At 31 December 2023 33,812
DEPRECIATION
At 1 January 2023 14,425
Charge for year 8,453
At 31 December 2023 22,878
NET BOOK VALUE
At 31 December 2023 10,934
At 31 December 2022 13,242

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 54,722 46,660
Other debtors 124,988 178,488
179,710 225,148

Advanced Commerce Ltd (Registered number: 11150949)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 94,256 111,836
Taxation and social security 44,751 28,763
Other creditors 222,707 245,942
361,714 386,541

8. RELATED PARTY DISCLOSURES

Included within the other creditors balance is a loan from the director of GBP 204,141 (2022: GBP 225,881).
This loan is interest free and repayable on demand.