Advantage Early Growth Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04847732

Advantage Early Growth Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 December 2024

Advantage Early Growth Limited

Company Limited by Guarantee

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Investments	6		371,958	371,958

Current assets

Debtors	7	1,200	600
Cash at bank and in hand		445,676	437,585
		--------	--------
		446,876	438,185

Creditors: amounts falling due within one year	8	170,694		166,275
		--------		--------
Net current assets			276,182	271,910
			--------	--------
Total assets less current liabilities			648,140	643,868

Creditors: amounts falling due after more than one year	9		15,141,814	14,284,730

Accruals and deferred income	3,100	3,100
	------------	------------
Net liabilities	( 14,496,774)	( 13,643,962)
	------------	------------

Capital and reserves

Profit and loss account	( 14,496,774)	( 13,643,962)
	------------	------------
Members deficit	( 14,496,774)	( 13,643,962)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Advantage Early Growth Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 14 August 2025 , and are signed on behalf of the board by:

T. S. Powell

Director

Company registration number: 04847732

Advantage Early Growth Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by guarantee, registered and trading in England and Wales with company number 04847732 . The address of the registered office is Redroofs, Berrington Road, Tenbury Wells, Worcestershire, WR15 8EN, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. Under the terms of the funding the company has received for capital investments and operating expenditure, the amounts will be repayable from realised surpluses on the disposal of investments. In the event of there being insufficient funds at the end of the project the loan (to the extent that it is unpayable) included in creditors will be deemed non repayable. The project was originally due to end on 31 December 2019, however it has now been agreed with the British Business Bank and ERDF to extend the loan granted up to 31 December 2025. Given the above, the directors have considered it appropriate to prepare the financial statements on a going concern basis. However, these matters do indicate the existence of a material uncertainty which may cast doubt on the company's ability to continue as a going concern. The financial statements do not contain any adjustments that may arise if this basis is not appropriate.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.

4. Company limited by guarantee

Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

6. Investments

	Shares in group undertakings	Unlisted investments	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	2	1,146,919	1,146,921
	----	-----------	-----------
Impairment
At 1 January 2024 and 31 December 2024	–	774,963	774,963
	----	-----------	-----------

Carrying amount
At 31 December 2024	2	371,956	371,958
	----	-----------	-----------
At 31 December 2023	2	371,956	371,958
	----	-----------	-----------

7. Debtors

	2024	2023
	£	£
Trade debtors	1,200	600
	------	----

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	170,058	164,125
Social security and other taxes	636	2,150
	--------	--------
	170,694	166,275
	--------	--------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	15,141,814	14,284,730
	------------	------------

Included in bank loans and overdrafts above is a repayable capital grant from the British Business Bank of £4,945,000 (2023: £4,945,000) together with accrued interest of £10,196,814 (2023: £9,339,730).

10. Prior period errors

The accounts have been restated to incorporate the impact of a miscalculation of the cost and impairment of investments. The change has resulted in cumulative losses at 31 December 2022 decreasing by £2:


		£
	Reduction in cost of investments	(244,853)
	Reduction in cumulative impairment	244,855
		--------
		2
		--------

11. Financial commitments, guarantees and contingencies

The company is committed to ring-fencing any sales proceeds generated from the sale of investments which were funded by the European Regional Development Fund grant in a separate legacy fund, and this fund is either to be used to reinvest in qualifying investments or returned to the funding provider at the date of the cessation of the project. The grant amounted to £3,945,614, although the value of the proceeds expected to be generated from these investments is likely to be lower than this. The company will also pay a percentage of net realised proceeds from the disposal of investments derived from the British Business Bank funding to the directors, subject to the proceeds reaching a minimum threshold value. At this stage the liability is contingent as it cannot be reliably estimated and is possible but not probable.

12. Related party transactions

The company was under the control of T S Powell and J M Rankin during the current and previous period.