Registered number
07988236
Advantage Umbrella Limited
Filleted Accounts
31 March 2024
Advantage Umbrella Limited
Registered number: 07988236
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,221,008 5,226,260
Current assets
Debtors 4 651,360 459,986
Investments held as current assets 5 96,000 96,000
Cash at bank and in hand 722,437 1,052,753
1,469,797 1,608,739
Creditors: amounts falling due within one year 6 (80,382) (74,690)
Net current assets 1,389,415 1,534,049
Total assets less current liabilities 6,610,423 6,760,309
Creditors: amounts falling due after more than one year 7 (559,932) (646,226)
Provisions for liabilities (765,563) (765,563)
Net assets 5,284,928 5,348,520
Capital and reserves
Called up share capital 100 100
Profit and loss account 5,284,828 5,348,420
Shareholders' funds 5,284,928 5,348,520
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.
Ali OSOY
Director
Approved by the board on 10 February 2025
Advantage Umbrella Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
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 3 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 5,200,000 132,682 5,332,682
At 31 March 2024 5,200,000 132,682 5,332,682
Depreciation
At 1 April 2023 - 106,422 106,422
Charge for the year - 5,252 5,252
At 31 March 2024 - 111,674 111,674
Net book value
At 31 March 2024 5,200,000 21,008 5,221,008
At 31 March 2023 5,200,000 26,260 5,226,260
Freehold land and buildings: 2024 2023
£ £
Historical cost 5,200,000 5,200,000
Cumulative depreciation based on historical cost - -
5,200,000 5,200,000
4 Debtors 2024 2023
£ £
Trade debtors 270,615 93,519
Amounts owed by group undertakings and undertakings in which the company has a participating interest 114,000 114,000
Other debtors 266,745 252,467
651,360 459,986
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 96,000 96,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 406 4,701
Other taxes and social security costs 50,868 24,501
Other creditors 29,108 45,488
80,382 74,690
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 559,932 646,226
8 Off-balance sheet arrangements
Claimed surrender losses group relief from Echo Professional Services Ltd for £11,578
9 Controlling party
Mr Ali Osoy, a company director controls the company by virtue of holding 100% of the issued share capital.
10 Other information
Advantage Umbrella Limited is a private company limited by shares and incorporated in England. Its registered office is:
Advantage House
273 Fore Street
London
N9 0PD
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