Advancis Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08089541 (England and Wales)

Financial Statements

for the Year Ended 30 November 2017

for

Advancis Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N Zapolski

Mr B J Unsworth

REGISTERED OFFICE:

Alexandra Court

Carrs Road

Cheadle

Cheshire

SK8 2JY

REGISTERED NUMBER:

08089541 (England and Wales)

AUDITORS:

Freedman Frankl & Taylor

Statutory Auditors

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

4

130,468

86,918

CURRENT ASSETS

Debtors

5

10,502,551

4,217,585

Cash at bank

547,903

163,534

11,050,454

4,381,119

CREDITORS

Amounts falling due within one year

6

303,705

220,666

NET CURRENT ASSETS

10,746,749

4,160,453

TOTAL ASSETS LESS CURRENT LIABILITIES

10,877,217

4,247,371

CREDITORS

Amounts falling due after more than one year

7

14,862,507

6,476,252

NET LIABILITIES

(3,985,290

)

(2,228,881

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(3,985,390

)

(2,228,981

)

SHAREHOLDERS' FUNDS

(3,985,290

)

(2,228,881

)

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 13 August 2018 and were signed on its behalf by:

Mr N Zapolski - Director

1.	STATUTORY INFORMATION

Advancis 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.

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 comprises interest income on loans to customers. Loans are initially measured at fair value (which is

equal to cost at inception) and are subsequently measured at amortised cost using the effective interest rate

method.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

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.

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.

Going concern

The company's financial statements for the year ended 30 November 2017 have been prepared on a going

concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future.

The company is reliant on the continued financial support of its parent company Advancis Holdings Limited,

Red Rock Services S.A.R.L, APVCO20 Limited and Shawbrook Bank who have all indicated their willingness

to continue their support for the foreseeable future.

Administrative expenses

Some administrative expenses including direct and indirect costs are recognised on an effective interest rate basis

i.e. cost spread over the lifetime of the loan and not included as an expense at the time the loan originated.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2016 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 December 2016

119,356

Additions

85,967

At 30 November 2017

205,323

DEPRECIATION

At 1 December 2016

32,438

Charge for year

42,417

At 30 November 2017

74,855

NET BOOK VALUE

At 30 November 2017

130,468

At 30 November 2016

86,918

5.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

3,133,877

1,238,815

Other debtors

2,404,314

1,209,772

5,538,191

2,448,587

Amounts falling due after more than one year:

Trade debtors

4,964,360

1,768,998

Aggregate amounts

10,502,551

4,217,585

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

79,950

55,954

Amounts owed to group undertakings

40,000

-

Taxation and social security

32,101

17,768

Other creditors

151,654

146,944

303,705

220,666

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

12,790,320

-

Other creditors

2,072,187

6,476,252

14,862,507

6,476,252

8.	LEASING AGREEMENTS

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

2017

2016

£

£

Between one and five years

124,992

187,488

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Other creditors

2,072,187

4,048,456

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam Caplan BSc (Hons) ACA (Senior Statutory Auditor)

for and on behalf of Freedman Frankl & Taylor

11.	CONTINGENT LIABILITIES

The company has guaranteed the loans of group companies which at 30 November 2017 amounted to

£12,830,320 (2016: Nil).

12.	RELATED PARTY DISCLOSURES

During the year the company bought services amounting to £94,524 (2016: £121,432) and had its liability of

£103,695 waived by a company in which directors have an interest.

13.	ULTIMATE PARENT COMPANY

The company's ultimate parent undertaking at the balance sheet date is Advancis Holdings Limited, a company

incorporated and registered in England. Copies of the financial statements of Advancis Holdings Limited can be

obtained from the registered office of this company.