Advanced Factors Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07003446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018

FOR

ADVANCED FACTORS LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M R Windheuser

M P Windheuser

S Horner

SECRETARY:

M R Windheuser

REGISTERED OFFICE:

3 The Mews

16 Hollybrush Lane

Sevenoaks

Kent

TN13 3TH

REGISTERED NUMBER:

07003446 (England and Wales)

ACCOUNTANTS:

Upton Neenan Lees

Chartered Accountants

21-23 Croydon Road

Caterham

Surrey

CR3 6PA

FIXED ASSETS

Tangible assets

4

7,004

9,138

CURRENT ASSETS

Stocks

362,285

351,008

Debtors

5

502,026

369,465

864,311

720,473

CREDITORS

Amounts falling due within one year

6

(847,523

)

(706,210

)

NET CURRENT ASSETS

16,788

14,263

TOTAL ASSETS LESS CURRENT LIABILITIES

23,792

23,401

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

23,692

23,301

SHAREHOLDERS' FUNDS

23,792

23,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 May 2019 and were signed on its behalf by:

M R Windheuser - Director

1.	STATUTORY INFORMATION

Advanced Factors 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 the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

value added tax and other sales taxes.

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

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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 14 (2017 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2017

5,885

26,036

31,921

Additions

-

468

468

Disposals

-

(3,500

)

(3,500

)

At 31 August 2018

5,885

23,004

28,889

DEPRECIATION

At 1 September 2017

2,514

20,269

22,783

Charge for year

225

1,286

1,511

Eliminated on disposal

-

(2,409

)

(2,409

)

At 31 August 2018

2,739

19,146

21,885

NET BOOK VALUE

At 31 August 2018

3,146

3,858

7,004

At 31 August 2017

3,371

5,767

9,138

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade debtors

167,127

146,394

Other debtors

334,899

223,071

502,026

369,465

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Bank loans and overdrafts

1,056

13,702

Trade creditors

254,431

196,230

Taxation and social security

13,448

13,870

Other creditors

578,588

482,408

847,523

706,210