Advantage Business Technologies Limited
Registered number: 04406028
Balance sheet
As at 31 December 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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For the year ended 31 December 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 September 2024.
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S Godfrey
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The notes on pages 2 to 4 form part of these financial statements.
Page 1
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Advantage Business Technologies Limited
Notes to the financial statements
For the Year Ended 31 December 2023
Advantage Business Technologies Limited (the Company) is a limited company incorporated and domiciled in the United Kingdom. The principal activity of the company is that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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 ordinary shares.
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The average monthly number of employees, including directors, during the year was 1 (2022 - 1).
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Investments in subsidiary companies
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Page 2
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Advantage Business Technologies Limited
Notes to the financial statements
For the Year Ended 31 December 2023
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The following was a subsidiary undertaking of the Company:
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Advantage Business Systems Limited
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Sale of accounting software and related services
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The aggregate of the share capital and reserves as at 31 December 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
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Aggregate of share capital and reserves
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Advantage Business Systems Limited
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Creditors: Amounts falling due within one year
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Related party transactions
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The company owed £1,666,986 (2022: £1,666,986) to Netcon Inc., a company incorporated in the USA and which owns 100% of the issued share capital.
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Page 3
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Advantage Business Technologies Limited
Notes to the financial statements
For the Year Ended 31 December 2023
The company is under the control of Netcon Inc., a company incorporated in the USA and which owns 100% of the issued share capital.
The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
Page 4
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