REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022 |
FOR |
ADVO ONE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022 |
FOR |
ADVO ONE LIMITED |
ADVO ONE LIMITED (REGISTERED NUMBER: 04198766) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 January 2022 to 30 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 9 |
ADVO ONE LIMITED |
COMPANY INFORMATION |
for the period 1 January 2022 to 30 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Linden House |
Linden Close |
Tunbridge Wells |
Kent |
TN4 8HH |
ADVO ONE LIMITED (REGISTERED NUMBER: 04198766) |
BALANCE SHEET |
30 December 2022 |
30.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
ADVO ONE LIMITED (REGISTERED NUMBER: 04198766) |
BALANCE SHEET - continued |
30 December 2022 |
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 and authorised for issue on |
ADVO ONE LIMITED (REGISTERED NUMBER: 04198766) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 January 2022 to 30 December 2022 |
1. | STATUTORY INFORMATION |
advo One Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised when it is probable that future economic benefits will flow to the company from the provision of contracts for the sale of professional services and is measured as the fair value of consideration which the company expects to receive from those transactions. Revenue is recognised from the provision of services as the value of professional services provided is delivered to the customer. Where the normal criteria for the recognition of revenue are not met or are varied, then revenue is recognised at the point when control has passed to the customer which could be when legal title has passed to the customer or when the business has a right to payment such as on delivery or when cash payment has been made to the company. |
When the outcome of a services contract can be estimated reliably, contract revenue and associated expenditure are recognised by reference to the stage of completion of the contract at the reporting date. |
When the outcome of a services contract cannot be estimated reliably, contract revenue shall only be recognised to the extent of the amount of associated expenditure incurred and it is probable that the contract revenue will be recoverable. |
Provision will be made for all losses arising from a services contract where it is probable that current and future contract expenditure exceeds contract revenue. |
Any income which is unbilled at the reporting date is included as accrued income within Debtors and any prepaid income is included as deferred income within Creditors. |
Revenue is recognised net of returns and of trade discounts but includes expenses and disbursements and is shown exclusive of value added tax. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, was being amortised over its estimated useful life of 20 years. After a review of the useful life, this was amended to 5 years in 2016. |
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. |
ADVO ONE LIMITED (REGISTERED NUMBER: 04198766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2022 to 30 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Office equipment | - |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the period 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 period 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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 period was |
ADVO ONE LIMITED (REGISTERED NUMBER: 04198766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2022 to 30 December 2022 |
4. | INTANGIBLE FIXED ASSETS |
IP |
Goodwill | Licence | Totals |
£ | £ | £ |
COST |
At 1 January 2022 |
Additions |
Transfer in from group company |
At 30 December 2022 |
AMORTISATION |
At 1 January 2022 |
Amortisation for period |
Transfer in from group company |
At 30 December 2022 |
NET BOOK VALUE |
At 30 December 2022 |
At 31 December 2021 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Office | and | Computer |
equipment | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 30 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for period |
At 30 December 2022 |
NET BOOK VALUE |
At 30 December 2022 |
At 31 December 2021 |
ADVO ONE LIMITED (REGISTERED NUMBER: 04198766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2022 to 30 December 2022 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Computer |
equipment |
£ |
COST |
Additions |
At 30 December 2022 |
DEPRECIATION |
Charge for period |
At 30 December 2022 |
NET BOOK VALUE |
At 30 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.22 | 31.12.21 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.22 | 31.12.21 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
ADVO ONE LIMITED (REGISTERED NUMBER: 04198766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2022 to 30 December 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.12.22 | 31.12.21 |
£ | £ |
Bank loans - 2-5 years |
Hire purchase contracts (see note 9) |
Other creditors |
9. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
30.12.22 | 31.12.21 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The company has given a fixed and floating charge dated 1 October 2019 over all of the assets of the company. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
ADVO ONE LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of advo One Limited for the period ended 30 December 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of advo One 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 advo One Limited and state those matters that we have agreed to state to the Board of Directors of advo One Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than advo One Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that advo One 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 profit of advo One Limited. You consider that advo One Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of advo One 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. |
Linden House |
Linden Close |
Tunbridge Wells |
Kent |
TN4 8HH |