Advantage Biogas Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09662571 (England and Wales)

ADVANTAGE BIOGAS LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mr P J Davies

Mr N R W Ross

Mr M Powell

SECRETARY:

Mr N R W Ross

REGISTERED OFFICE:

6-8 Goodwood Road

Keytec 7 Business Park

Pershore

Worcestershire

WR10 2JL

REGISTERED NUMBER:

09662571 (England and Wales)

ACCOUNTANTS:

Wallace Crooke Walsall Limited

Chartered Accountants

Wallace House

20 Birmingham Road

Walsall

West Midlands

WS1 2LT

The directors present their report with the financial statements of the company for the year ended 30 June 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of providing services and support services to

Anaerobic Digestion plants.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2016 to the date of this report.

Mr P J Davies

Mr N R W Ross

Mr M Powell

BUSINESS OVERVIEW

Advantage Biogas has strengthened its position as a leading provider of engineering, technical and operations support

to the UK biogas industry. It offers a full range of services including: engineering design and build services for new

builds and plant upgrades, plant O&M, biological and consulting services to enhance plant performance, distribution and

installation of a range of key process technologies and performance monitoring and reporting. Our services are provided

to a range of clients including: third party financial investors, owners, engineering contractors, operators and developers.

2016/17 saw continued growth in demand for Advantage Biogas' range of services from both existing and new clients.

This has resulted in a dramatic increase in revenues that has driven significant staff recruitment (from 14 to 36) and a

buoyant future order book.

Advantage Biogas has also undertaken significant investment and R&D into new technologies around plant

performance, and monitoring and reporting during the year. These are expected to provide prospective opportunities for

growth both within the UK biogas industry and other sectors which the company is targeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr M Powell - Director

8 March 2018

FIXED ASSETS

Intangible assets

4

12,000

16,000

Tangible assets

5

45,617

17,631

57,617

33,631

CURRENT ASSETS

Stocks

322,350

11,698

Debtors

6

1,012,284

530,051

Cash at bank and in hand

136,211

152,369

1,470,845

694,118

CREDITORS

Amounts falling due within one year

7

838,548

376,443

NET CURRENT ASSETS

632,297

317,675

TOTAL ASSETS LESS CURRENT LIABILITIES

689,914

351,306

CREDITORS

Amounts falling due after more than one year

8

(500,000

)

(300,000

)

PROVISIONS FOR LIABILITIES

(5,548

)

-

NET ASSETS

184,366

51,306

CAPITAL AND RESERVES

Called up share capital

10

40,000

40,000

Retained earnings

144,366

11,306

SHAREHOLDERS' FUNDS

184,366

51,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 8 March 2018 and were signed on its behalf by:

Mr M Powell - Director

1.	STATUTORY INFORMATION

Advantage Biogas 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These are the Company's first financial statements prepared in accordance with Financial Reporting Standard

102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

The accounting policies set out below have been applied in preparing the financial statements for the year ended

30 June 2017 and the comparative information presented in these financial statements for the period ended 30

June 2016. The company's date of transition is 30 June 2015, being the date of incorporation.

There were no differences between Financial Reporting Standard 102 "The Financial Reporting Standard

applicable in the UK and Republic of Ireland" and Financial Reporting Standard for Small Entities (January 2015)

in the balance sheet and the Statement of Income and Retained Earnings for the two periods.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision

of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales

returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will to the entity; and

specific criteria have been met for each of the company's activities.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

50% on cost, 33% on cost and 25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 23 (2016 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2016

and 30 June 2017

20,000

AMORTISATION

At 1 July 2016

4,000

Charge for year

4,000

At 30 June 2017

8,000

NET BOOK VALUE

At 30 June 2017

12,000

At 30 June 2016

16,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2016

23,510

Additions

48,177

At 30 June 2017

71,687

DEPRECIATION

At 1 July 2016

5,879

Charge for year

20,191

At 30 June 2017

26,070

NET BOOK VALUE

At 30 June 2017

45,617

At 30 June 2016

17,631

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

775,075

297,660

Other debtors

28,783

31,500

Prepayments and accrued income

208,426

200,891

1,012,284

530,051

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

542,391

95,807

Amounts owed to group undertakings

-

3,088

Tax

28,139

11,110

Social security and other taxes

145,483

174,728

Other creditors

1,581

14,015

Accruals and deferred income

120,954

77,695

838,548

376,443

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

500,000

300,000

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

56,364

-

Between one and five years

154,235

-

210,599

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

30,000

A ordinary

1

30,000

30,000

10,000

B ordinary

1

10,000

10,000

40,000

40,000

11.	RELATED PARTY DISCLOSURES

During the year the company was issued with a loan of £200,000 (2016: £300,000) from its parent undertaking.

There is interest charged on this loan at 10% per annum. At the year end the company owes £500,000 (2016:

£300,000) on these loans.

12.	ULTIMATE HOLDING PARTY

The controlling party is Iona Capital Limited.