Company Registration No. 11716381 (England and Wales)
Advanced Contracts Solutions Limited
Unaudited accounts
for the year ended 30 November 2023
Advanced Contracts Solutions Limited
Unaudited accounts
Contents
Advanced Contracts Solutions Limited
Company Information
for the year ended 30 November 2023
Directors
Brendan Cowell
Matthew Hiscox
Graham Michael Hurd
Adam David Phillips
Robert Malcolm Hurd
Company Number
11716381 (England and Wales)
Registered Office
Unit 20 Darren Drive
Prince Of Wales Industrial Estate
Abercarn, Newport
NP11 5AR
Wales
Accountants
Evans Entwistle
Villa House
7 Herbert Terrace
Penarth
Vale of Glamorgan
CF64 2AH
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Advanced Contracts Solutions Limited
for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Advanced Contracts Solutions Limited for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Villa House
7 Herbert Terrace
Penarth
Vale of Glamorgan
CF64 2AH
27 August 2024
Advanced Contracts Solutions Limited
Statement of financial position
as at 30 November 2023
Tangible assets
12,160
31,110
Cash at bank and in hand
183,134
184,746
Creditors: amounts falling due within one year
(145,550)
(221,779)
Net current assets
146,205
130,663
Total assets less current liabilities
158,365
161,773
Provisions for liabilities
Deferred tax
(2,798)
(5,911)
Net assets
155,567
155,862
Called up share capital
100
100
Profit and loss account
155,467
155,762
Shareholders' funds
155,567
155,862
For the year ending 30 November 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 27 August 2024 and were signed on its behalf by
Matthew Hiscox
Director
Company Registration No. 11716381
Advanced Contracts Solutions Limited
Notes to the Accounts
for the year ended 30 November 2023
Advanced Contracts Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 11716381. The registered office is Unit 20 Darren Drive, Prince Of Wales Industrial Estate, Abercarn, Newport, NP11 5AR, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
10 years straight line
Computer equipment
3 years straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Advanced Contracts Solutions Limited
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
65,681
10,211
-
75,892
Additions
-
2,898
1,179
4,077
Disposals
(46,883)
-
-
(46,883)
At 30 November 2023
18,798
13,109
1,179
33,086
At 1 December 2022
39,528
5,254
-
44,782
Charge for the year
1,489
1,226
105
2,820
On disposals
(26,676)
-
-
(26,676)
At 30 November 2023
14,341
6,480
105
20,926
At 30 November 2023
4,457
6,629
1,074
12,160
At 30 November 2022
26,153
4,957
-
31,110
Amounts falling due within one year
Trade debtors
83,110
141,059
Accrued income and prepayments
1,363
2,482
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
52,282
50,581
Amounts owed to group undertakings and other participating interests
-
84,642
Taxes and social security
85,078
86,541
Advanced Contracts Solutions Limited
Notes to the Accounts
for the year ended 30 November 2023
7
Deferred taxation
2023
2022
Accelerated capital allowances
2,798
5,911
Provision at start of year
5,911
7,449
Credited to the profit and loss account
(3,113)
(1,538)
Provision at end of year
2,798
5,911
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Advanced Contracts Solutions Holdings Limited is the parent company,
10
Average number of employees
During the year the average number of employees was 14 (2022: 11).