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REGISTERED NUMBER: OC358727 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

ADVANTAGE ACCOUNTANCY & ADVISORY
(CARDIFF) LLP

ADVANTAGE ACCOUNTANCY & ADVISORY
(CARDIFF) LLP (REGISTERED NUMBER: OC358727)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


ADVANTAGE ACCOUNTANCY & ADVISORY
(CARDIFF) LLP (REGISTERED NUMBER: OC358727)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,145 76,990

CURRENT ASSETS
Debtors 5 28,202 21,462
Prepayments and accrued income 45,833 83,000
Cash at bank 545 3
74,580 104,465
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

73,492

92,985
NET CURRENT ASSETS 1,088 11,480
TOTAL ASSETS LESS CURRENT LIABILITIES 65,233 88,470

CREDITORS: AMOUNTS FALLING DUE AFTER
MORE THAN ONE YEAR

7

38,448

47,584
NET ASSETS ATTRIBUTABLE TO MEMBERS 26,785 40,886

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

26,785

40,886

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 26,785 40,886

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

ADVANTAGE ACCOUNTANCY & ADVISORY
(CARDIFF) LLP (REGISTERED NUMBER: OC358727)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 17 October 2024 and were signed by:





Mr S J Bickerton - Designated member

ADVANTAGE ACCOUNTANCY & ADVISORY
(CARDIFF) LLP (REGISTERED NUMBER: OC358727)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Advantage Accountancy & Advisory (Cardiff) LLP is registered in United Kingdom. The LLP's registered number and registered office address are as below:

Registered number: OC358727

Registered office: Avalon House
5-7 Cathedral Road
Cardiff
CF11 9HA

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% Straight line

Hire purchase and leasing commitments
Rentals paid 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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

ADVANTAGE ACCOUNTANCY & ADVISORY
(CARDIFF) LLP (REGISTERED NUMBER: OC358727)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Members' remuneration
The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 14 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 127,564
Additions 3,349
At 31 March 2024 130,913
DEPRECIATION
At 1 April 2023 50,574
Charge for year 16,194
At 31 March 2024 66,768
NET BOOK VALUE
At 31 March 2024 64,145
At 31 March 2023 76,990

ADVANTAGE ACCOUNTANCY & ADVISORY
(CARDIFF) LLP (REGISTERED NUMBER: OC358727)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,510 3,010
Other debtors 14,692 18,452
28,202 21,462

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 975
Hire purchase contracts 9,136 9,136
Trade creditors 15,987 32,891
Taxation and social security 40,332 36,223
Other creditors 8,037 13,760
73,492 92,985

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 38,448 47,584

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 47,584 56,720

Hire purchase liabilities are secured against the assets to which they relate.

ADVANTAGE ACCOUNTANCY & ADVISORY
(CARDIFF) LLP (REGISTERED NUMBER: OC358727)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. LOANS AND OTHER DEBTS DUE TO MEMBERS

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.