Registered number
10409937
Advantage Business & Legal Services Limited
Filleted Accounts
31 December 2023
Advantage Business & Legal Services Limited
Registered number: 10409937
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,647 4,862
Current assets
Debtors 4 64,187 36,444
Investments held as current assets 5 - 44,113
Cash at bank and in hand 12,357 32,840
76,544 113,397
Creditors: amounts falling due within one year 6 (36,016) (15,645)
Net current assets 40,528 97,752
Total assets less current liabilities 44,175 102,614
Creditors: amounts falling due after more than one year 7 (85,793) (114,391)
Net liabilities (41,618) (11,777)
Capital and reserves
Called up share capital 100 100
Profit and loss account (41,718) (11,877)
Shareholder's funds (41,618) (11,777)
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 her 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.
I Kesic
Director
Approved by the board on 10 September 2024
Advantage Business & Legal Services Limited
Notes to the Accounts
for the year ended 31 December 2023
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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 8,804
At 31 December 2023 8,804
Depreciation
At 1 January 2023 3,942
Charge for the year 1,215
At 31 December 2023 5,157
Net book value
At 31 December 2023 3,647
At 31 December 2022 4,862
4 Debtors 2023 2022
£ £
Trade debtors 42,182 24,626
Other debtors 22,005 11,818
64,187 36,444
5 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments - 44,113
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments (44,113) -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,878 -
Trade creditors 5,036 8,704
Taxation and social security costs 5,394 6,941
Other creditors 2,708 -
36,016 15,645
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 85,793 114,391
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 108,671 114,391
Bank loans are secured by means of a fixed and floating charge against all property or undertaking of the company.
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
I Kesic
Interest free loan - 6,246 - 6,246
- 6,246 - 6,246
10 Other information
Advantage Business & Legal Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
33 Ubique Avenue
Meon Vale
Stratford-Upon-Avon
CV37 8WQ
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