Advanta Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05171185 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2019

for

Advanta Holdings Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

4

DIRECTOR:

G. Viar

SECRETARY:

G. Viar

REGISTERED OFFICE:

Wakefield House

41 Trinity Square

London

EC3N 4DJ

REGISTERED NUMBER:

05171185 (England and Wales)

ACCOUNTANTS:

Born & Co.

Chartered Accountants

5 London Wall Buildings

London

EC2M 5NS

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 Statement of Comprehensive Income 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 Advanta Holdings Limited for the year ended 31st December 2019 which comprise the Income Statement, 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 Advanta Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Advanta Holdings Limited and state those matters that we have agreed to state to the director of Advanta Holdings 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 Advanta Holdings Limited and its director for our work or for this report.

It is your duty to ensure that Advanta Holdings 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 loss of Advanta Holdings Limited. You consider that Advanta Holdings 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 Advanta Holdings 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.

Born & Co.

Chartered Accountants

5 London Wall Buildings

London

EC2M 5NS

18th December 2020

FIXED ASSETS

Investments

5

145,057

247,970

CURRENT ASSETS

Debtors

6

977,339

851,651

Cash at bank

48,544

34,647

1,025,883

886,298

CREDITORS

Amounts falling due within one year

7

860,153

727,777

NET CURRENT ASSETS

165,730

158,521

TOTAL ASSETS LESS CURRENT LIABILITIES

310,787

406,491

CAPITAL AND RESERVES

Called up share capital

8

100

100

Share premium

9

199,903

199,903

Retained earnings

9

110,784

206,488

SHAREHOLDERS' FUNDS

310,787

406,491

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th December 2020 and were signed by:

G. Viar - Director

1.	STATUTORY INFORMATION

Advanta Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going concern

The company meets its day-to-day working capital requirements through its bank facilities.

Current economic conditions have been impacted by the spread of COVID-19 and continue to create uncertainty. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facilities.

After making enquiries, the director has a reasonable expectation that the company has adequate resources and support within the group to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Advanta Holdings Limited 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.

Significant judgements and estimates

The preparation of the financial statements may require the directors to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

No judgements, estimates or assumptions that are material to the financial statements have been made during the current or prior year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 4 ) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2019

247,970

Additions

1

Disposals

(102,914

)

At 31st December 2019

145,057

NET BOOK VALUE

At 31st December 2019

145,057

At 31st December 2018

247,970

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

23,706

37,331

Amounts owed by group undertakings

836,147

659,189

Prepayments and accrued income

117,486

155,131

977,339

851,651

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

13

2,570

Amounts owed to group undertakings

564,071

489,075

Tax

1,792

1,858

Social security and other taxes

2,845

9,678

VAT

35,520

3,202

Pension

763

986

Accruals and deferred income

255,149

220,408

860,153

727,777

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1st January 2019

206,488

199,903

406,391

Deficit for the year

(95,704

)

(95,704

)

At 31st December 2019

110,784

199,903

310,687

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of Advanta Global Services Limited, a company incorporated in Malta.

The ultimate controlling parties are the directors.

11.	EVENTS AFTER THE REPORTING DATE

We are closely monitoring the current development and spread of COVID-19. The company and group continue to operate satisfactorily.

There are no other subsequent events which would require adjustments or disclosures to the financial statements.