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REGISTERED NUMBER: 08087343 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Advent Development Holdings Ltd

Advent Development Holdings Ltd (Registered number: 08087343)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Advent Development Holdings Ltd (Registered number: 08087343)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 148,436 9,149
Investments 5 202 202
148,638 9,351

CURRENT ASSETS
Debtors 6 2,254,512 2,113,893
Cash at bank 15,858 36,781
2,270,370 2,150,674
CREDITORS
Amounts falling due within one year 7 323,883 163,942
NET CURRENT ASSETS 1,946,487 1,986,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,095,125

1,996,083

CREDITORS
Amounts falling due after more than one
year

8

(62,695

)

-

PROVISIONS FOR LIABILITIES (3,768 ) (2,186 )
NET ASSETS 2,028,662 1,993,897

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 2,028,562 1,993,797
SHAREHOLDERS' FUNDS 2,028,662 1,993,897

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

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

The directors acknowledge their 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.

Advent Development Holdings Ltd (Registered number: 08087343)

Balance Sheet - continued
31 May 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:





T J Reeve - Director


Advent Development Holdings Ltd (Registered number: 08087343)

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

1. STATUTORY INFORMATION

Advent Development Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08087343

Registered office: Cold Moor Cote Farm
Chop Gate
Middlesbrough
Cleveland
TS9 7JJ

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Advent Development Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover from the sale of residential homes is recognised at the fair value of the consideration received on legal completion of sales, net of incentives.

Income from management charges is recognised in the period to which the charge relates.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost less estimated residual value of each asset on a straight line basis over its expected useful life.

Computer Equipment - 33% straight line.
Fixtures & Fittings - 20% straight line.

Investments in subsidiaries
Investments in subsidiaries are measured at cost less impairment.

Where the value of other investments can be reliably measured they are measured at fair value through the profit and loss account. Where fair value cannot be measured reliably other investments are measured at cost less impairment.


Advent Development Holdings Ltd (Registered number: 08087343)

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

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme and that of directors' personal pension schemes are charged to profit or loss in the period to which they relate.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - Other debtors, cash and bank balances, trade creditors and inter-company balances.

Other debtors, cash and bank balances, trade creditors and inter-company balances (being repayable on demand) are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Advent Development Holdings Ltd (Registered number: 08087343)

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

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 13,443 - 2,818 16,261
Additions - 141,458 871 142,329
At 31 May 2024 13,443 141,458 3,689 158,590
DEPRECIATION
At 1 June 2023 4,527 - 2,585 7,112
Charge for year 2,689 - 353 3,042
At 31 May 2024 7,216 - 2,938 10,154
NET BOOK VALUE
At 31 May 2024 6,227 141,458 751 148,436
At 31 May 2023 8,916 - 233 9,149

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 202
NET BOOK VALUE
At 31 May 2024 202
At 31 May 2023 202

Advent Development Holdings Ltd (Registered number: 08087343)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,326 -
Amounts owed by group undertakings 2,234,773 2,106,405
Other debtors 8,413 7,488
2,254,512 2,113,893

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 27,865 -
Trade creditors 1,200 33,303
Taxation and social security 72,835 70,475
Other creditors 221,983 60,164
323,883 163,942

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 62,695 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 27,865 -
Between one and five years 62,695 -
90,560 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 2,958

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 90,560 -

Liabilities under hire purchase agreements are secured on the assets to which the liability relates.

Advent Development Holdings Ltd (Registered number: 08087343)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A 1 50 50
50 Ordinary B 1 50 50
100 100

All shares have equal voting rights and rank pari passu