Advanced Consulting Service Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05192279 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019

FOR

ADVANCED CONSULTING SERVICE LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

S Saab

SECRETARY:

S Khulpateea

REGISTERED OFFICE:

Thistle Hill Hall

Debdale Lane

Mansfield Woodhouse

Nottinghamshire

NG19 7EZ

REGISTERED NUMBER:

05192279 (England and Wales)

ACCOUNTANTS:

Bishops

Chartered Accountants

Phoenix Park

Blakewater Road

Blackburn

Lancashire

BB1 5BG

BANKERS:

HSBC

Knightsbridge Premier Centre

102 Brompton Road

London

SW3 1JJ

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Director are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Advanced Consulting Service Limited for the year ended 31 July 2019 which

comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related

notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Advanced Consulting Service Limited in accordance with the terms of our engagement letter dated 27 March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Advanced Consulting Service Limited and state those matters that we have agreed to state to the director of Advanced Consulting Service Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Advanced Consulting Service Limited and its director for our work or for this report.

It is your duty to ensure that Advanced Consulting Service Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Advanced Consulting Service Limited. You consider that Advanced Consulting Service Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Advanced Consulting Service Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bishops

Chartered Accountants

Phoenix Park

Blakewater Road

Blackburn

Lancashire

BB1 5BG

30 March 2020

FIXED ASSETS

Investments

4

1,232,932

1,871,632

CURRENT ASSETS

Debtors

5

1,584,512

1,116,844

Cash at bank

331,680

66,097

1,916,192

1,182,941

CREDITORS

Amounts falling due within one year

6

152,129

54,240

NET CURRENT ASSETS

1,764,063

1,128,701

TOTAL ASSETS LESS CURRENT LIABILITIES

2,996,995

3,000,333

CREDITORS

Amounts falling due after more than one year

7

2,800,907

2,800,907

NET ASSETS

196,088

199,426

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

196,087

199,425

SHAREHOLDERS' FUNDS

196,088

199,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 27 March 2020 and were signed by:

S Saab - Director

1.	STATUTORY INFORMATION

Advanced Consulting Service Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found on the

Company Information page.

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

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.

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 company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Fixed asset investments are included at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 6 ) .

4.	FIXED ASSET INVESTMENTS

Other

loans

£

At 1 August 2018

1,871,632

New in year

50,000

Repayment in year

(688,700

)

At 31 July 2019

1,232,932

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

1,584,512

1,116,844

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

10,068

9,891

Taxation and social security

30,712

41,655

Other creditors

111,349

2,694

152,129

54,240

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

2,800,907

2,800,907

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

2,800,907

2,800,907

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Retained

earnings

£

At 1 August 2018

199,425

Profit for the year

56,662

Dividends

(60,000

)

At 31 July 2019

196,087

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company has made advances of £103,581 to the director of the company.

The overdrawn director's loan account is repayable on demand and interest is payable at a rate of 5%.

The director of the company has given a personal guarantee against the loan of £2,800,907.