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Company No: 01778540 (England and Wales)

# ADVANTAGE BUSINESS SYSTEMS LTD

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

ADVANTAGE BUSINESS SYSTEMS LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ADVANTAGE BUSINESS SYSTEMS LTD

## COMPANY INFORMATION

For the financial year ended 31 December 2024
ADVANTAGE BUSINESS SYSTEMS LTD

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024

Directors | J Bown (Appointed 01 September 2025)
| S Godfrey (Appointed 01 September 2025)
| M Howe (Resigned 31 August 2025)

Secretary | S Godfrey

Registered office | 150 Minories
| London
| EC3N 1LS
| United Kingdom

Company number | 01778540 (England and Wales)

Accountant | Kreston Reeves LLP
| 2nd Floor
| 168 Shoreditch High Street
| London
| E1 6RA

Bankers | Lloyds TSB Bank plc
| 49 High Street
| Sutton
| Surrey
| SM1 1DX

ADVANTAGE BUSINESS SYSTEMS LTD

## BALANCE SHEET

As at 31 December 2024
ADVANTAGE BUSINESS SYSTEMS LTD

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 8,776 |  | 14,138
|  | 8,776 |  | 14,138
Current assets |  |  |  |
Debtors | 5 | 2,189,527 |  | 1,874,935
Cash at bank and in hand | 6 | 2,898,884 |  | 2,612,951
|  | 5,088,411 |  | 4,487,886
Creditors: amounts falling due within one year | 7 | ( 3,697,721) |  | ( 3,474,277)
Net current assets |  | 1,390,690 |  | 1,013,609
Total assets less current liabilities |  | 1,399,466 |  | 1,027,747
Net assets |  | 1,399,466 |  | 1,027,747
Capital and reserves |  |  |  |
Called-up share capital | 8 | 51,000 |  | 51,000
Profit and loss account |  | 1,348,466 |  | 976,747
Total shareholder's funds |  | 1,399,466 |  | 1,027,747

For the financial 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Advantage Business Systems Ltd (registered number: 01778540) were approved and authorised for issue by the Board of Directors on 08 December 2025. They were signed on its behalf by:

S Godfrey Director |

ADVANTAGE BUSINESS SYSTEMS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ADVANTAGE BUSINESS SYSTEMS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Advantage Business Systems Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 150 Minories, London, EC3N 1LS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

#####

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment | 3 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the
contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 30 |  | 35

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 507,413 |  | 507,413
At 31 December 2024 | 507,413 |  | 507,413
Accumulated amortisation |  |  |
At 01 January 2024 | 507,413 |  | 507,413
At 31 December 2024 | 507,413 |  | 507,413
Net book value |  |  |
At 31 December 2024 | 0 |  | 0
At 31 December 2023 | 0 |  | 0

#### 4. Tangible assets

| Computer equipment |  | Total
| £ |  | £
Cost |  |  |
At 01 January 2024 | 363,625 |  | 363,625
Additions | 1,263 |  | 1,263
At 31 December 2024 | 364,888 |  | 364,888
Accumulated depreciation |  |  |
At 01 January 2024 | 349,487 |  | 349,487
Charge for the financial year | 6,625 |  | 6,625
At 31 December 2024 | 356,112 |  | 356,112
Net book value |  |  |
At 31 December 2024 | 8,776 |  | 8,776
At 31 December 2023 | 14,138 |  | 14,138

#### 5. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 1,693,339 |  | 1,360,869
Prepayments | 496,188 |  | 513,948
Other debtors | 0 |  | 118
| 2,189,527 |  | 1,874,935

#### 6. Cash and cash equivalents

| 2024 |  | 2023
| £ |  | £
Cash at bank and in hand | 2,898,884 |  | 2,612,951

#### 7. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Trade creditors | 1,108,656 |  | 1,156,672
Accruals and deferred income | 2,123,025 |  | 2,021,839
Taxation and social security | 440,221 |  | 278,357
Other creditors | 25,819 |  | 17,409
| 3,697,721 |  | 3,474,277

#### 8. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
51,000 Ordinary shares of £ 1.00 each | 51,000 |  | 51,000

#### 9. Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £47,425 (2023: £58,110). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the year end and are included within Creditors.

#### 10. Reserves

Profit & loss account

This reserve comprises all current and prior period retained profits and losses after deducting any distributions.

Share capital

This represents the nominal value for shares that have been issued by the company.

#### 11. Ultimate controlling party

The company's ultimate parent undertaking is Advantage Business Technologies Limited, a company incorporated in the United Kingdom. The ultimate controlling party is Netcon Inc., a company incorporated in the USA and which owns 100% of the issued share capital of Advantage Business Technologies Limited.