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REGISTERED NUMBER: 11344635 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Ace Finance And Developments Ltd

Ace Finance And Developments Ltd (Registered number: 11344635)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ace Finance And Developments Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTORS: Himat Lalji Gami
Jyotika Himat Gami
Chivaar Himat Gami





REGISTERED OFFICE: 114 Old Church Lane,
Stanmore,
United Kingdom,
HA7 2RR





REGISTERED NUMBER: 11344635 (England and Wales)






Ace Finance And Developments Ltd (Registered number: 11344635)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £   
CURRENT ASSETS
Debtors 4 1,782,613 1,266,843
Cash at bank 8,931 47,158
1,791,544 1,314,001
CREDITORS
Amounts falling due within one year 5 (1,749,969 ) (1,310,577 )
NET CURRENT ASSETS 41,575 3,424
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,575

3,424

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 41,574 3,423
41,575 3,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 applicable to companies subject to the small companies regime.

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 25 August 2022 and were signed on its behalf by:





Himat Lalji Gami - Director


Ace Finance And Developments Ltd (Registered number: 11344635)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Ace Finance And Developments 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.

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.

Going concern
The financial statements have been prepared on a going concern basis. The company incurred losses during the period. However the directors have confirmed that they will continue to give financial support to the company until such time as its position improves. They are therefore of the opinion that they should adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Other debtors 1,782,613 1,266,843

Ace Finance And Developments Ltd (Registered number: 11344635)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Taxation and social security 8,948 803
Other creditors 1,741,021 1,309,774
1,749,969 1,310,577

6. ULTIMATE CONTROLLING PARTY

The controlling party is Himat Lalji Gami.