ADVANCE_IT_GROUP_LIMITED - Accounts
ADVANCE_IT_GROUP_LIMITED - Accounts
Company Registration No. 06419586 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
Tangible assets
2
Investments
2
Current assets
Stocks
-
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(98,808 )
(123,010 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(98,939 )
(85,008 )
Capital and reserves
Called up share capital
3
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2016
- 2 -
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 17 August 2017
Director
Company Registration No. 06419586
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Goodwill
1.5
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
1.6
Tangible fixed assets and depreciation
Fixtures, fittings & equipment
1.7
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.8
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.9
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
1.10
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Investments
Total
£
£
£
£
Cost
At 1 December 2015
127
175,254
Additions
-
26,137
At 30 November 2016
127
201,391
Depreciation
At 1 December 2015
-
115,622
Charge for the year
-
24,389
At 30 November 2016
-
140,011
Net book value
At 30 November 2016
61,380
At 30 November 2015
59,633
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid