Advoco (2011) Limited Company Accounts

ADVOCO (2011) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07533565

ADVOCO (2011) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

28 February 2017

ADVOCO (2011) LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2017

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 4

ADVOCO (2011) LIMITED

BALANCE SHEET

28 February 2017

	2017	2016
Note	£	£

Fixed assets

Tangible assets	5	394	492

Current assets

Debtors	6	–	2,065
Cash at bank and in hand		6	765
		------------	------------
		6	2,830

Creditors: amounts falling due within one year	7	( 3,148)	( 2,897)
		------------	------------
Net current liabilities		( 3,142)	( 67)
		------------	------------
Total assets less current liabilities		( 2,748)	425
		------------	------------
Net (liabilities)/assets		( 2,748)	425
		------------	------------

Capital and reserves

Called up share capital	8	1	1
Profit and loss account		( 2,749)	424
		------------	------------
Members (deficit)/funds		( 2,748)	425
		------------	------------

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 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 profit and loss account has not been delivered.

For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 20 November 2017 , and are signed on behalf of the board by:

J G Daniels
Director

Company registration number: 07533565

ADVOCO (2011) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, '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. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis. The director has agreed to provide the necessary funds as and when available to enable the company to finance its activities.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

The turnover represents the value of Commission receivable during the period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & fittings	-	20% reducing balance
Office equipment	-	20% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Turnover

The turnover was derived from the company's principal activity which was carried out wholly within the United Kingdom.

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 March 2016 and 28 February 2017	750	750	1,500
	------------	------------	------------
Depreciation
At 1 March 2016	504	504	1,008
Charge for the year	49	49	98
	------------	------------	------------
At 28 February 2017	553	553	1,106
	------------	------------	------------
Carrying amount
At 28 February 2017	197	197	394
	------------	------------	------------
At 29 February 2016	246	246	492
	------------	------------	------------

6. Debtors

	2017	2016
	£	£
Director's loan account	–	2,065
	------------	------------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank overdrafts	1,305	–
Accruals and deferred income	900	1,850
Corporation tax	943	1,047
	------------	------------
	3,148	2,897
	------------	------------

8. Called up share capital

Issued, called up and fully paid

	2017		2016
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	------------	------------	------------	------------

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 March 2015.

No transitional adjustments were required in equity or profit or loss for the year.