Advent Development Holdings Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08087343 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 May 2017

for

Advent Development Holdings Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Reeve

T J Reeve

Mrs M B Reeve

REGISTERED OFFICE:

Cold Moor Cote Farm

Chop Gate

Middlesbrough

Cleveland

TS9 7JJ

REGISTERED NUMBER:

08087343 (England and Wales)

FIXED ASSETS

Investments

4

200

200

CURRENT ASSETS

Stocks

5,750

20,000

Debtors

5

412,486

296,051

Cash at bank

406,084

4,413

824,320

320,464

CREDITORS

Amounts falling due within one year

6

434,194

302,582

NET CURRENT ASSETS

390,126

17,882

TOTAL ASSETS LESS CURRENT LIABILITIES

390,326

18,082

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

390,226

17,982

SHAREHOLDERS' FUNDS

390,326

18,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors on 14 February 2018 and were signed on its behalf by:

T J Reeve - Director

M J Reeve - Director

1.	STATUTORY INFORMATION

Advent Development Holdings 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 UK and Republic of Ireland" and the Companies Act

2006 as applicable to companies subject to the small companies regime. The disclosure requirements

of section 1A of FRS102 have been applied other than where additional disclosure is required to give a

true and fair view.

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

This is the first year in which the financial statements have been prepared under FRS 102. Refer to

note 8 below for an explanation of the transition.

The functional and presentational currency of the company is considered to be pounds sterling.

Preparation of consolidated financial statements

The financial statements contain information about Advent Development Holdings Ltd as an individual

company and do not contain consolidated financial information as the parent of a group. The company

has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

Related party exemption

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and

rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is

recognised on delivery.

Turnover from the supply of services represents the value of services provided under contracts to the

extent that there is a right to consideration and is recorded at the fair value of the consideration

received or receivable. Where a contract has only been partially completed at the balance sheet date

turnover represents the fair value of the service provided to date based on the stage of completion of

the contract activity at the balance sheet date. Where payments are received from customers in

advance of services provided, the amounts are recorded as deferred income and included as part of

creditors due within one year.

Investments in subsidiaries

Investments in subsidiaries are measured at cost less impairment.

Where the value of other investments can be reliably measured they are measured at fair value

through the profit and loss account. Where fair value cannot be measured reliably other investments

are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent

to the net realisable value. Cost includes materials, direct labour and an attributable proportion of

manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in,

first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Taxation

Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered)

using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date.

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

the balance sheet date where transactions or events that result in an obligation to pay more tax in the

future or a right to pay less tax in the future have occurred at the balance sheet date. Timing

differences are differences between the company's taxable profits and its results as stated in the

financial statements that arise from the inclusion of gains and losses in tax assessments in periods

different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis

of all available evidence, it can be regarded as more likely than not that there will be suitable taxable

profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the

contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction

costs), except for those financial assets classified as at fair value through profit and loss, which are

initially measured at fair value (which is normally the transaction price excluding transaction costs),

unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing

transaction, the financial asset or financial liability is measured at the present value of the future

payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - Other debtors, cash

and bank balances, trade creditors and inter-company balances.

Other debtors, cash and bank balances, trade creditors and inter-company balances (being repayable

on demand) are measured at the amortised cost equivalent to the undiscounted amount of cash or

other consideration expected to be paid or received.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each

balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in

profit and loss as described below.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the

asset's carrying amount and the best estimate of the amount that would be received for the asset if it

were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively

to an event occurring after the impairment was recognised, the prior impairment loss is tested to

determine reversal. An impairment loss is reversed on an individual impaired financial asset to the

extent that the revised recoverable value does not lead to a revised carrying amount higher than the

carrying value had impairment not been recognised.

Critical accounting judgements and sources of estimation uncertainty

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

The critical judgements that the directors have made in applying the company's accounting policies

and the key sources of estimation uncertainty that have had the most significant effect on the amounts

recognised in the financial statements are described below:

Construction contracts

Construction contracts are assessed on a contract by contract basis and reflected in the profit and

loss account by recognising turnover and related costs as the contract activity progresses. Where

contract activity can be reasonably assessed during the contract term an apportionment of the contract

profit is also recognised.

The directors make an assessment at the period end as to the stage of completion of each contract

and recognise the appropriate level of turnover and costs in the profit and loss account based on

contract forecasts and Quantity Surveyors valuations.

Amounts recoverable on contracts are recognised in debtors, as the amount recognised in turnover but

not yet invoiced, to the extent that these amounts are considered recoverable. Any forecast contract

losses are recognised in full at in the profit and loss account at the point the directors consider this

outcome to be likely.

Impairment of investments

The company considers whether investments are impaired. Where indication of impairment is

identified the estimation of the recoverable amount requires estimation of the future cash flows from

the cash generating units and a selection of appropriate discount rates in order to calculate the net

present value of those future cash flows.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - NIL ) .

4.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in joint

undertakings

venture

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

100

100

200

NET BOOK VALUE

At 31 May 2017

100

100

200

At 31 May 2016

100

100

200

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

387,398

206,113

Amounts owed by joint ventures

-

18,900

Other debtors

25,088

71,038

412,486

296,051

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

49,554

15,012

Amounts owed to joint ventures

100

-

Taxation and social security

171,690

7,416

Other creditors

212,850

280,154

434,194

302,582

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

50

Ordinary A

1

50

50

50

Ordinary B

1

50

50

100

100

All shares have equal voting rights and rank pari passu

8.	FIRST YEAR ADOPTION

This is the first year that the Company has presented its financial statements under Financial

Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council. The last financial

statements prepared under the previous UK GAAP were for the year ended 31 May 2016 and the date

of transition was therefore 1 June 2015. As a consequence of adopting FRS 102 the directors are of

the opinion that no changes need to be made upon transition to this accounting standard as the effect

of any changes are not material.