Advance IT Group Limited - Abbreviated accounts 16.1
Advance IT Group Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 30 November 2015 |
| for |
| Advance IT Group Limited |
| Advance IT Group Limited (Registered number: 06419586) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 30 November 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 7 |
| Advance IT Group Limited |
| Company Information |
| for the Year Ended 30 November 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| SOLICITORS: |
| Advance IT Group Limited (Registered number: 06419586) |
| Abbreviated Balance Sheet |
| 30 November 2015 |
| 30.11.15 | 30.11.14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| Advance IT Group Limited (Registered number: 06419586) |
| Abbreviated Balance Sheet - continued |
| 30 November 2015 |
| The financial statements were approved by the Board of Directors on |
| Advance IT Group Limited (Registered number: 06419586) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 30 November 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Advance IT Group Limited 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. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts |
| where turnover is recognised when the company obtains the right to consideration. |
| Goodwill |
| Development costs |
| The company has capitalised development costs relating to various products and has agreed that these should be |
| written off over 5 years. |
| Tangible fixed assets |
| Computer equipment | - |
| Deferred tax |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the |
| treatment of certain items for taxation and accounting purposes. Deferred tax is recognised in respect of all |
| timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets are only |
| recognised where it is considered more likely than not that future profits will be available for offset. Deferred tax |
| is measured on a non-discounted basis at the average tax rates that would apply in the periods in which the timing |
| differences are expected to reverse, based on the tax rates and laws that have been enacted by the balance sheet |
| date. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Operating leases |
| The relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term, |
| unless they relate to vacant leasehold properties, in which case provision is made on a discounted basis for the |
| net obligation under the lease The unwinding of the discount is disclosed within interest payable and similar |
| charges. Where no lease is in place, the rentals are charged to the profit and loss account as and when paid. |
| Investments |
| Fixed asset investments are stated at cost less provision of permanent diminution in value. |
| Advance IT Group Limited (Registered number: 06419586) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 November 2015 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 December 2014 |
| and 30 November 2015 |
| AMORTISATION |
| At 1 December 2014 |
| Amortisation for year |
| At 30 November 2015 |
| NET BOOK VALUE |
| At 30 November 2015 |
| At 30 November 2014 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 December 2014 |
| and 30 November 2015 |
| DEPRECIATION |
| At 1 December 2014 |
| Charge for year |
| At 30 November 2015 |
| NET BOOK VALUE |
| At 30 November 2015 |
| At 30 November 2014 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 December 2014 |
| and 30 November 2015 | 127 |
| NET BOOK VALUE |
| At 30 November 2015 |
| At 30 November 2014 |
| Advance IT Group Limited (Registered number: 06419586) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 30 November 2015 |
| 4. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 4,855 | 3,430 |
| Profit for the year | 1,425 | 1,750 |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.15 | 30.11.14 |
| value: | £ | £ |
| Ordinary | £1 |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 November 2015 and |
| 30 November 2014: |
| 30.11.15 | 30.11.14 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Amounts in brackets are due to the directors. Amounts are repayable in full, without interest. The above amounts |
| represent the aggregate movements during the year rather than each individual transaction. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Advance IT Group Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have |
| been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Advance IT Group Limited for the year ended 30 November 2015 which comprise the Profit and |
| Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Advance IT Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Advance IT Group Limited and state those matters that we have agreed to state to the Board of Directors of Advance IT Group Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Advance IT Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Advance IT Group Limited. You consider that Advance IT Group Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Advance IT Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 25 August 2016 |