Company registration number 04656892 (England and Wales)
ADVANCE APPROVAL CONSULTANCY SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ADVANCE APPROVAL CONSULTANCY SERVICES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ADVANCE APPROVAL CONSULTANCY SERVICES LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,476
5,947
Current assets
Debtors
4
84,165
182,818
Cash at bank and in hand
628
84,793
182,818
Creditors: amounts falling due within one year
5
(415,651)
(513,592)
Net current liabilities
(330,858)
(330,774)
Total assets less current liabilities
(326,382)
(324,827)
Provisions for liabilities
526
526
Net liabilities
(325,856)
(324,301)
Capital and reserves
Called up share capital
1,001
1,001
Profit and loss reserves
(326,857)
(325,302)
Total equity
(325,856)
(324,301)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 12 March 2024
Mr S Christophi
Director
Company registration number 04656892 (England and Wales)
ADVANCE APPROVAL CONSULTANCY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
Advance Approval Consultancy Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Union Building, The Union Building, 51-59 Rose Lane, Norwich, Norfolk, England, NR1 1BY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
- 25% reducing balance
Computers
- 25% reducing balance
1.3
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.4
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ADVANCE APPROVAL CONSULTANCY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
11
11
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
24,006
Depreciation and impairment
At 1 April 2022
18,060
Depreciation charged in the year
1,470
At 31 March 2023
19,530
Carrying amount
At 31 March 2023
4,476
At 31 March 2022
5,947
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
99,653
Other debtors
84,165
83,165
84,165
182,818
ADVANCE APPROVAL CONSULTANCY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
4,711
Trade creditors
10,614
Corporation tax
11
Other creditors
415,640
498,267
415,651
513,592