Advancr One Limited - Filleted accounts

Advancr One Limited - Filleted accounts

ADVANCR ONE LIMITED - Company Information

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Registered number
09601615
Advancr One Limited
Filleted Accounts
31 March 2017
Advancr One Limited
Registered number: 09601615
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Investments 2 2,277,963 2,277,964
Current assets
Debtors 3 1 1
Cash at bank and in hand 3,534 3,564
3,535 3,565
Creditors: amounts falling due within one year 4 (2,059,025) (13,649)
Net current liabilities (2,055,490) (10,084)
Total assets less current liabilities 222,473 2,267,880
Creditors: amounts falling due after more than one year 5 (245,640) (2,277,966)
Net liabilities (23,167) (10,086)
Capital and reserves
Called up share capital 1 1
Profit and loss account (23,168) (10,087)
Shareholders' funds (23,167) (10,086)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C A Ainsworth
Director
Approved by the board on 22 December 2017
Advancr One Limited
Notes to the Accounts
for the year ended 31 March 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by section 399 (24) (a) (i) of the companies act 2006 not to prepare group accounts.
2 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2016 2,277,964
At 31 March 2017 2,277,964
The principal undertakings in which the company's interest at the year end is 20% or more are as follows:
Ordinary share capital held Nature of business
Country of Incorporation or registration
Name
Advancr Limited United Kingdom 100% Financial Services
AH Power United Kingdom 100% Electricity production
Arraze Limited United Kingdom 100% Electricity production
Bandspace Limited United Kingdom 100% Electricity production
Bridge Power Limited United Kingdom 100% Electricity production
Campus Link Limited United Kingdom 100% Electricity production
Convertibox Services Limited United Kingdom 100% Electricity production
Core Generation Limited United Kingdom 100% Electricity production
Druman Green Limited United Kingdom 100% Electricity production
Fellman Solar Limited United Kingdom 100% Electricity production
Flowers Power Limited United Kingdom 100% Electricity production
Haul Power Limited United Kingdom 100% Electricity production
New Energy Network Limited United Kingdom 100% Electricity production
Ranmore Environmental Limited United Kingdom 100% Electricity production
September Star Energy Limited United Kingdom 100% Electricity production
Trym Power Limited United Kingdom 100% Electricity production
2 Investments Cont'd
With the exception of Advancr Limited and Campus Link Limited, all of the above were entered into members voluntary liquidation in April 2016.

Proceeds were recieved from the liquidation process in June 2017.
3 Debtors 2017 2016
£ £
Other debtors 1 1
4 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 913 1,513
Other creditors 2,058,112 12,136
2,059,025 13,649
5 Creditors: amounts falling due after one year 2017 2016
£ £
Other creditors 245,640 2,277,966
6 Events after the reporting date
On the 6th June 2017, the company received the proceeds from the liquidation process of fourteen of its sixteen subsidiaries.

The proceeds received enabled the company to repay its liabilities to Triple Point Income VCT Plc, TP10 VCT Plc, Triple Point VCT 2011 Plc, TP70 2010 VCT Plc and TP5 VCT Plc.
7 Related party transactions
At the reporting date, the company owed Advancr Group LLP £26,206 (2016: £22,545).

C A Ainsworth and N Richards are Directors of TP Leasing Limited, at the reporting date the company owed TP Leasing Limited £219,434 (2016: £219,434). Interest of £13,636 (2016: £8,477) was charged during the year.
8 Controlling party
The company is ultimately controlled by Advancr Group LLP by virtue of its 100% shareholding.
9 Other information
Advancr One Limited is a private company limited by shares and incorporated in England. Its registered office is: 18 St Swithin's Lane, London, EC4N 8AD.
10 Going Concern
The directors confirm the use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events, or conditions that may cast significant doubt about the ability of the company to continue as a going concern. If required the company has the continued financial support of the ultimate controlling party.
11 Transition to FRS 102
This is the first period the Company has presented its financial statements under Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council. The last financial statements under previous UK GAAP were for the period ended 31 March 2016 and the date of transition was 20 May 2015.

As a consequence of adopting FRS 102, a number of accounting policies have changed to comply with the standard. None of the accounting policy changes are material.

There have been no changes to the Company's equity and assets as a result of this conversion.
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