Registered number
05023153
Advance Telecom (UK) Limited
Filleted Accounts
31 January 2024
Advance Telecom (UK) Limited
Registered number: 05023153
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 23,123 20,391
Current assets
Debtors 4 278,909 224,307
Cash at bank and in hand 764,880 316,277
1,043,789 540,584
Creditors: amounts falling due within one year 5 (651,959) (287,045)
Net current assets 391,830 253,539
Net assets 414,953 273,930
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 413,953 272,930
Shareholders' funds 414,953 273,930 -
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
G McCarthy
Director
Approved by the board on 20 August 2024
Advance Telecom (UK) Limited
Notes to the Accounts
for the year ended 31 January 2024
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 basis
Fixtures, fittings, tools and equipment 25% reducing balance basis
Motor Vehicles 25% reducing balance basis
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 68,734 36,398 105,132
Additions 9,360 - 9,360
At 31 January 2024 78,094 36,398 114,492
Depreciation
At 1 February 2023 60,787 23,954 84,741
Charge for the year 3,517 3,111 6,628
At 31 January 2024 64,304 27,065 91,369
Net book value
At 31 January 2024 13,790 9,333 23,123
At 31 January 2023 7,947 12,444 20,391
4 Debtors 2024 2023
£ £
Trade debtors 256,580 194,724
Other debtors 22,329 29,583
278,909 224,307
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 47,807 56,764
Taxation and social security costs 304,549 224,435
Other creditors 299,603 5,846
651,959 287,045
6 Other information
Advance Telecom (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Avondale Road
Welling
Kent
DA16 1NG
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