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REGISTERED NUMBER: 05306514 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ADVANTA PRODUCTIONS LIMITED

ADVANTA PRODUCTIONS LIMITED (REGISTERED NUMBER: 05306514)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ADVANTA PRODUCTIONS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: R J Davies





SECRETARY: R J Davies





REGISTERED OFFICE: 29 Bridgford Road
West Bridgford
Nottingham
United Kingdom
NG2 6AU





REGISTERED NUMBER: 05306514 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

ADVANTA PRODUCTIONS LIMITED (REGISTERED NUMBER: 05306514)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 340 400
341 401

CURRENT ASSETS
Debtors 6 6,419 2,509
Cash at bank 1,860 822
8,279 3,331
CREDITORS
Amounts falling due within one year 7 (41,222 ) (32,397 )
NET CURRENT LIABILITIES (32,943 ) (29,066 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(32,602

)

(28,665

)

CREDITORS
Amounts falling due after more than one
year

8

(31,222

)

(38,077

)
NET LIABILITIES (63,824 ) (66,742 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (63,924 ) (66,842 )
(63,824 ) (66,742 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:



R J Davies - Director


ADVANTA PRODUCTIONS LIMITED (REGISTERED NUMBER: 05306514)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Advanta Productions Limited is a limited company, registered in England and Wales. Its registered office address is 29 Bridgford Road, West Bridgford, Nottingham, United Kingdom, NG2 6AU and the registered number is 05306514.

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Goodwill
Goodwill is amortised evenly over its estimated useful life.

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.

Tangible fixed assets
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, fittings & equipment - 15% reducing balance
Computer Equipment - 15% reducing balance

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


ADVANTA PRODUCTIONS LIMITED (REGISTERED NUMBER: 05306514)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ADVANTA PRODUCTIONS LIMITED (REGISTERED NUMBER: 05306514)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023
and 31 March 2024 19,999
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 471
DEPRECIATION
At 1 April 2023 71
Charge for year 60
At 31 March 2024 131
NET BOOK VALUE
At 31 March 2024 340
At 31 March 2023 400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,865 1,122
Other debtors 859 588
Prepayments and accrued income 1,695 799
6,419 2,509

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,856 6,856
Trade creditors 1,019 45
Social security and other taxes - 683
Other creditors 260 576
Directors' current accounts 30,923 21,977
Accruals and deferred income 2,164 2,260
41,222 32,397

ADVANTA PRODUCTIONS LIMITED (REGISTERED NUMBER: 05306514)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 31,222 38,077