Advent Development Consulting Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09088419 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 May 2017

for

Advent Development Consulting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T J Reeve

Mrs M B Reeve

REGISTERED OFFICE:

58 Nursery Lane

Alwoodley

Leeds

West Yorkshire

LS17 7HW

REGISTERED NUMBER:

09088419 (England and Wales)

FIXED ASSETS

Tangible assets

3

299

504

CURRENT ASSETS

Debtors

4

127

-

Cash at bank

1,640

8,171

1,767

8,171

CREDITORS

Amounts falling due within one year

5

1,656

4,529

NET CURRENT ASSETS

111

3,642

TOTAL ASSETS LESS CURRENT LIABILITIES

410

4,146

PROVISIONS FOR LIABILITIES

52

101

NET ASSETS

358

4,045

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

258

3,945

SHAREHOLDERS' FUNDS

358

4,045

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 26 February 2018 and were signed on its behalf by:

T J Reeve - Director

1.	STATUTORY INFORMATION

Advent Development Consulting 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts

and value added tax.

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 and

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets

Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition,

net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, other than and freehold land, at rates calculated to write

off the cost less estimated residual value of each asset over its expected useful life.

Plant, equipment, fixtures & fittings 33% straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an

asset after deducting estimated costs of disposal, if the asset were already at an age and in the

condition expected at the end of its estimated useful life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value

of the assets against the higher of realisable value and value in use.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale

proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the

employee's services are received.

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, other

creditors and cash and bank

Other debtors, other creditors and cash and bank balances are measured at the amortised cost

equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2016

and 31 May 2017

620

DEPRECIATION

At 1 June 2016

116

Charge for year

205

At 31 May 2017

321

NET BOOK VALUE

At 31 May 2017

299

At 31 May 2016

504

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

127

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

-

102

Other creditors

1,656

4,427

1,656

4,529

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

50

A Ordinary

£1

50

50

50

B Ordinary

£1

50

50

100

100

All shares have equal voting rights and rank pari passu

7.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was nil (2016: nil).

No staff costs or directors emoluments have been borne by the company in the current year as the

directors have contracts with companies related by common ownership.

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.