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REGISTERED NUMBER: 04308533 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

ACE SECTIONAL BUILDINGS LIMITED

ACE SECTIONAL BUILDINGS LIMITED (REGISTERED NUMBER: 04308533)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACE SECTIONAL BUILDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: A K Church Esq
S Church Esq
W B Church Esq





SECRETARY: A K Church Esq





REGISTERED OFFICE: Snoad Hill
Bethersden
Ashford
Kent
TN26 3DZ





REGISTERED NUMBER: 04308533 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Invicta Business Centre
Monument Way
Orbital Park
Ashford
Kent
TN24 0HB

ACE SECTIONAL BUILDINGS LIMITED (REGISTERED NUMBER: 04308533)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 157,118 196,474
157,118 196,474

CURRENT ASSETS
Stocks 93,792 59,380
Debtors 6 305,936 243,796
Cash at bank and in hand 453,578 401,514
853,306 704,690
CREDITORS
Amounts falling due within one year 7 448,305 353,350
NET CURRENT ASSETS 405,001 351,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

562,119

547,814

CREDITORS
Amounts falling due after more than one
year

8

(7,980

)

(33,902

)

PROVISIONS FOR LIABILITIES (29,031 ) (26,495 )
NET ASSETS 525,108 487,417

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 525,008 487,317
SHAREHOLDERS' FUNDS 525,108 487,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

ACE SECTIONAL BUILDINGS LIMITED (REGISTERED NUMBER: 04308533)

BALANCE SHEET - continued
31 DECEMBER 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by:




A K Church Esq - Director S Church Esq - Director




W B Church Esq - Director


ACE SECTIONAL BUILDINGS LIMITED (REGISTERED NUMBER: 04308533)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Ace Sectional Buildings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Website costs is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on a straight line basis
Fixtures and fittings - 25% on a straight line basis
Motor vehicles - 25% on a straight line basis

Government grants
Coronavirus Job Retention Scheme (CJRS)
The company has furloughed staff during the Covid-19 pandemic and made claims for government furlough grants. The grants are recognised on an accruals basis, matched in the year against the staff costs that they relate to and recorded as grant income in the accounts.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

ACE SECTIONAL BUILDINGS LIMITED (REGISTERED NUMBER: 04308533)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued

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.

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 year was 24 (2020 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Website
Goodwill costs Totals
£    £    £   
COST
At 1 January 2021
and 31 December 2021 90,000 21,050 111,050
AMORTISATION
At 1 January 2021
and 31 December 2021 90,000 21,050 111,050
NET BOOK VALUE
At 31 December 2021 - - -
At 31 December 2020 - - -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2021 15,308 445,251 23,318 187,781 671,658
Additions - 1,625 10,212 36,140 47,977
Disposals - - - (40,894 ) (40,894 )
At 31 December 2021 15,308 446,876 33,530 183,027 678,741
DEPRECIATION
At 1 January 2021 7,191 327,635 14,596 125,762 475,184
Charge for year 1,531 41,148 4,981 23,417 71,077
Eliminated on disposal - - - (24,638 ) (24,638 )
At 31 December 2021 8,722 368,783 19,577 124,541 521,623
NET BOOK VALUE
At 31 December 2021 6,586 78,093 13,953 58,486 157,118
At 31 December 2020 8,117 117,616 8,722 62,019 196,474

ACE SECTIONAL BUILDINGS LIMITED (REGISTERED NUMBER: 04308533)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2021 114,070 176,331 290,401
Disposals - (40,894 ) (40,894 )
At 31 December 2021 114,070 135,437 249,507
DEPRECIATION
At 1 January 2021 83,282 124,387 207,669
Charge for year 6,650 14,531 21,181
Eliminated on disposal - (24,638 ) (24,638 )
At 31 December 2021 89,932 114,280 204,212
NET BOOK VALUE
At 31 December 2021 24,138 21,157 45,295
At 31 December 2020 30,788 51,944 82,732

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 213,049 193,704
Other debtors 92,887 50,092
305,936 243,796

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Hire purchase contracts 17,253 48,489
Trade creditors 342,980 200,612
Taxation and social security 78,339 92,008
Other creditors 9,733 12,241
448,305 353,350

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Hire purchase contracts 7,980 33,902

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 25,233 82,391

Liabilities under hire purchase contracts are secured on the assets to which they relate.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date £39,980 was owed by the directors to the company and is included under other debtors.Interest has been charged on this amount which has been repaid since the year end.