ACE Rooms Ltd 05918936 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Ace Rooms Ltd is an established provider of an online booking service enabling customers to book Hotel Rooms & Airport Transfers in over 50 countries globally. The services are provided by third parties such as Hotels & Ground Transport Companies in the respective destinations and the company is an intermediary in the transaction. Digita Accounts Production Advanced 6.30.9574.0 true 05918936 2022-04-01 2023-03-31 05918936 2023-03-31 05918936 bus:OrdinaryShareClass1 2023-03-31 05918936 core:CurrentFinancialInstruments 2023-03-31 05918936 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05918936 bus:SmallEntities 2022-04-01 2023-03-31 05918936 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05918936 bus:AbridgedAccounts 2022-04-01 2023-03-31 05918936 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05918936 bus:RegisteredOffice 2022-04-01 2023-03-31 05918936 bus:Director1 2022-04-01 2023-03-31 05918936 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 05918936 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05918936 bus:Agent1 2022-04-01 2023-03-31 05918936 core:MotorVehicles 2022-04-01 2023-03-31 05918936 countries:AllCountries 2022-04-01 2023-03-31 05918936 2021-04-01 2022-03-31 05918936 2022-03-31 05918936 bus:OrdinaryShareClass1 2022-03-31 05918936 core:CurrentFinancialInstruments 2022-03-31 05918936 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05918936

ACE Rooms Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

ACE Rooms Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

ACE Rooms Ltd

Company Information

Director

Mr Yougesh Pau

Registered office

78 York Street
London
W1H 1DP

Bankers

Lloyds TSB Bank plc
286 - 288 Station Road
Harrow
Middlesex
HA1 2EB

Accountants

NRS Accountants & Taxation Services Ltd
264 High Road
Harrow Weald
Middlesex
HA3 7BB

 

ACE Rooms Ltd

(Registration number: 05918936)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

719

7,685

Cash at bank and in hand

 

390,467

681,172

 

391,186

688,857

Creditors: Amounts falling due within one year

(248,535)

(620,492)

Net assets

 

142,651

68,365

Capital and reserves

 

Called up share capital

4

10,000

10,000

Retained earnings

132,651

58,365

Shareholders' funds

 

142,651

68,365

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 October 2023
 


Mr Yougesh Pau
Director

 

ACE Rooms Ltd

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

1

General information

The company is a private company limited by share capital, incorporated and domiciled in England & Wales.

The address of its registered office is:
78 York Street
London
W1H 1DP

These financial statements were authorised for issue by the director on 20 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition


Revenue represents amount receivable from the sale of services supplied to customers net of VAT and arising primarily in the UK. Revenue is taken to the profit and loss on the date services are provided.

Foreign currency transactions and balances

Foreign currency Monetary Assets and Liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in Foreign Currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Tax

The taxation expense represents the aggregate amount of current and and deferred tax recognised in reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
In this case, tax is recognised in other comprenshensive income or directly in capital and reserves respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

 

ACE Rooms Ltd

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

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recoverd against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have enacted or substantively enacted by the reporting date that are expected to apply to reversal of the timing difference.




 

Depreciation

Asset class

Depreciation method and rate

Motor vehicles

8% on reducing basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. If collections is expected in one year or less they are classified as current assets, if not, they are presented as non - current assets.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors and other payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.



 

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

ACE Rooms Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 2).

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

10,000

10,000

10,000

10,000