Advanced Cell Technologies Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11216402 (England and Wales)

Financial Statements for the Year Ended 31 March 2022

for

ADVANCED CELL TECHNOLOGIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr K Reutov

REGISTERED OFFICE:

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

REGISTERED NUMBER:

11216402 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

& Statutory Auditors

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

CURRENT ASSETS

Debtors

4

259,495

30,511

Cash at bank and in hand

112,323

500,232

371,818

530,743

CREDITORS

Amounts falling due within one year

5

(215,334

)

(291,103

)

NET CURRENT ASSETS

156,484

239,640

TOTAL ASSETS LESS CURRENT LIABILITIES

156,484

239,640

CREDITORS

Amounts falling due after more than one year

6

(28,880

)

(36,750

)

NET ASSETS

127,604

202,890

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

127,504

202,790

SHAREHOLDERS' FUNDS

127,604

202,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 22 March 2023 and were signed by:

Mr K Reutov - Director

1.	STATUTORY INFORMATION

Advanced Cell Technologies Ltd 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

Turnover 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 Income Statement, 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 balance sheet date.

Deferred tax

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - NIL ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Amounts owed by participating interests

105,000

-

Other debtors

154,495

30,511

259,495

30,511

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts (see note 7)

8,624

8,250

Trade creditors

164,040

240,000

Taxation and social security

39,645

39,103

Other creditors

3,025

3,750

215,334

291,103

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans (see note 7)

28,880

36,750

7.

LOANS

An analysis of the maturity of loans is given below:

31.3.22

31.3.21

£

£

Amounts falling due within one year or on demand:

Bank loans

8,624

8,250

Amounts falling due between one and two years:

Bank loans - 1-2 years

8,808

36,750

Amounts falling due between two and five years:

Bank loans - 2-5 years

20,072

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

100

ORDINARY

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 April 2021

202,790

Deficit for the year

(73,286

)

Dividends

(2,000

)

At 31 March 2022

127,504

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22

31.3.21

£

£

Mr K Reutov

Balance outstanding at start of year

-

-

Amounts advanced

100,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

100,000

-

Overdrawn directors current account balance was fully repaid on 29th December 2022.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the director .

During the year Ronko Corporation Limited invoiced Advanced Cell Technologies Ltd £87,640 (2021 -Nil ) a company in which Mr K Reutov is a common director and shareholder.

At the balance sheet date Ronko Corporation Ltd was owed £87,640 by Advanced Cell Technologies Ltd.

During the year Alkor Capital Limited invoiced Advanced Cell Technologies Ltd £25,400 (2021 -£458,830 ) a company in which Mr K Reutov is a common director.

At the balance sheet date Alkor Capital Ltd was owed £75,000 by Advanced Cell Technologies Ltd.