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REGISTERED NUMBER: 06520691 (England and Wales)










Financial Statements

for the Year Ended 31 March 2023

for

Ace Computer Support (West Mids) Limited

Ace Computer Support (West Mids) Limited (Registered number: 06520691)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Ace Computer Support (West Mids) Limited

Company Information
for the Year Ended 31 March 2023







Director: Mr P Phillips





Registered office: 27 High Street
Albrighton
Wolverhampton
WV7 3JF





Registered number: 06520691 (England and Wales)





Accountants: Hughes & Co.
The Stables
Broseley Hall
Church Street
Broseley
Shropshire
TF12 5DG

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Ace Computer Support (West Mids) Limited


The following reproduces the text of the report prepared for the director 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 Director 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 Ace Computer Support (West Mids) Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Ace Computer Support (West Mids) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ace Computer Support (West Mids) Limited and state those matters that we have agreed to state to the director of Ace Computer Support (West Mids) Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Ace Computer Support (West Mids) 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 Ace Computer Support (West Mids) Limited. You consider that Ace Computer Support (West Mids) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ace Computer Support (West Mids) 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.






Hughes & Co.
The Stables
Broseley Hall
Church Street
Broseley
Shropshire
TF12 5DG


3 October 2023

Ace Computer Support (West Mids) Limited (Registered number: 06520691)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 4,365 5,238
Tangible assets 5 124 164
4,489 5,402

Current assets
Stocks 4,840 3,630
Debtors 6 12,298 14,986
Cash at bank and in hand 273 4,980
17,411 23,596
Creditors
Amounts falling due within one year 7 21,778 28,974
Net current liabilities (4,367 ) (5,378 )
Total assets less current liabilities 122 24

Capital and reserves
Called up share capital 8 2 2
Retained earnings 9 120 22
Shareholders' funds 122 24

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Computer Support (West Mids) Limited (Registered number: 06520691)

Balance Sheet - continued
31 March 2023


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 director and authorised for issue on 3 October 2023 and were signed by:





Mr P Phillips - Director


Ace Computer Support (West Mids) Limited (Registered number: 06520691)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Ace Computer Support (West Mids) 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 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on cost

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 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.


Ace Computer Support (West Mids) Limited (Registered number: 06520691)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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.

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 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
Cost
At 1 April 2022
and 31 March 2023 17,460
Amortisation
At 1 April 2022 12,222
Charge for year 873
At 31 March 2023 13,095
Net book value
At 31 March 2023 4,365
At 31 March 2022 5,238

Ace Computer Support (West Mids) Limited (Registered number: 06520691)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
Cost
At 1 April 2022
and 31 March 2023 5,843 4,917 5,258 16,018
Depreciation
At 1 April 2022 5,843 4,753 5,258 15,854
Charge for year - 40 - 40
At 31 March 2023 5,843 4,793 5,258 15,894
Net book value
At 31 March 2023 - 124 - 124
At 31 March 2022 - 164 - 164

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 12,880 13,602
Provision for bad debts (582 ) (582 )
Directors' current accounts - 1,966
12,298 14,986

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 4,390 -
Trade creditors 1,130 1,683
Corporation tax 3,573 9,491
Social security and other taxes 653 2,587
VAT 3,110 7,040
Other creditors 1,566 7,398
Directors' current accounts 6,531 -
Accruals and deferred income 825 775
21,778 28,974

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary 1 2 2

Ace Computer Support (West Mids) Limited (Registered number: 06520691)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


9. RESERVES
Retained
earnings
£

At 1 April 2022 22
Profit for the year 98
At 31 March 2023 120

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£ £
Mr P Phillips
Balance outstanding at start of year 1,966 -
Amounts advanced - 1,966
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,966

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P Phillips.