Ace Glass & Mirrors Limited 06080069 producing glass and mirror products false 1 August 2022 06080069 2022-08-01 2023-07-31 06080069 2022-07-31 06080069 2023-07-31 06080069 2021-08-01 2022-07-31 06080069 2021-07-31 06080069 2022-07-31 06080069 frs102-bus:FRS102 2022-08-01 2023-07-31 06080069 frs102-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 06080069 frs102-bus:FullAccounts 2022-08-01 2023-07-31 06080069 frs102-bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 06080069 frs102-core:CurrentFinancialInstruments 2023-07-31 06080069 frs102-core:CurrentFinancialInstruments 2022-07-31 06080069 frs102-core:Non-currentFinancialInstruments 2023-07-31 06080069 frs102-core:Non-currentFinancialInstruments 2022-07-31 06080069 frs102-core:ShareCapital 2023-07-31 06080069 frs102-core:ShareCapital 2022-07-31 06080069 frs102-core:RetainedEarningsAccumulatedLosses 2023-07-31 06080069 frs102-core:RetainedEarningsAccumulatedLosses 2022-07-31 06080069 frs102-bus:Director1 2022-08-01 2023-07-31 06080069 frs102-core:ToolsEquipment 2022-08-01 2023-07-31 06080069 frs102-core:Vehicles 2022-08-01 2023-07-31 06080069 frs102-core:OtherResidualIntangibleAssets 2022-07-31 06080069 frs102-core:OtherResidualIntangibleAssets 2023-07-31 06080069 frs102-core:OtherResidualIntangibleAssets 2022-08-01 2023-07-31 06080069 frs102-core:OtherResidualIntangibleAssets 2022-07-31 06080069 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2022-07-31 06080069 frs102-core:Vehicles 2022-07-31 06080069 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2022-08-01 2023-07-31 06080069 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2023-07-31 06080069 frs102-core:Vehicles 2023-07-31 06080069 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2022-07-31 06080069 frs102-core:Vehicles 2022-07-31 06080069 frs102-bus:OrdinaryShareClass1 2023-07-31 06080069 frs102-bus:OrdinaryShareClass1 2022-07-31 06080069 frs102-bus:OrdinaryShareClass1 2022-08-01 2023-07-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares
Registered number
06080069
Ace Glass & Mirrors Limited
Unaudited Accounts
for the year ended
31 July 2023
Ace Glass & Mirrors Limited
Balance Sheet
as at 31 July 2023
Notes
2023
£
2022
£
Fixed assets
Intangible assets 3 0 800
Tangible assets 4 7,494 9,891
7,494 10,691
Current assets
Stocks 5 3,941 3,408
Debtors 6 769 488
Cash at bank and in hand 3,474 3,865
8,184 7,761
Creditors: amounts falling due within one year 7 (23,436) (20,451)
Net current assets / (liabilities) (15,252) (12,690)
Total assets less current liabilities (7,758) (1,999)
Creditors: amounts falling due after more than one year 8 (6,066) (8,628)
Provisions for liabilities (0) (0)
Accruals and deferred income (1,100) (1,100)
Total net assets (liabilities) (14,924) (11,727)
Capital and reserves
Called up share capital 9 2 2
Profit and loss account (14,926) (11,729)
Shareholders' funds (14,924) (11,727)

Ace Glass & Mirrors Limited
Balance Sheet
as at 31 July 2023



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

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

...............................

Mr A Feast

Director


Approved by the board on 14 November 2023

Company Number: 06080069 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

87-89 Alder Road
Poole
Dorset
BH12 2AB

Ace Glass & Mirrors Limited
Notes to the Accounts
for the year ended 31 July 2023

1. Accounting policies

Basis of preparation of financial statements
These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
Going concern basis
The company is funded by a loan from the director. The director has considered the next 12 months and due to the director's continued support by way of the loan, the director has considered it appropriate to prepare the financial statements on the going concern basis.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.
Equipment 25% Reducing Balance
Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares that are measured at fair value. Derivative financial instruments are initially recorded at cost and thereafter at fair value. All changes in fair value are recognised in the profit or loss account in the period in which they occurred.
2. Employees
2023 2022
Average number of employees during the period 3 3

3. Intangible fixed assets
Other Total
Cost £ £
At 1 August 2022 8,000 8,000
At 31 July 2023 8,000 8,000
Amortisation
At 1 August 2022 7,200 7,200
Provided during the period 800 800
At 31 July 2023 8,000 8,000
Net book value
At 31 July 2023 0 0
At 31 July 2022 800 800

4. Tangible fixed assets
Equipment Vehicles Total
Cost or valuation £ £ £
At 1 August 2022 6,695 11,053 17,748
Additions 101 0 101
At 31 July 2023 6,796 11,053 17,849
Depreciation
At 1 August 2022 5,093 2,764 7,857
Charge for the period 426 2,072 2,498
At 31 July 2023 5,519 4,836 10,355
Net book value
At 31 July 2023 1,277 6,217 7,494
At 31 July 2022 1,602 8,289 9,891

5. Stocks
2023 2022
£ £
Stocks of raw materials and consumables 2,786 2,676
Work in progress 1,155 732
3,941 3,408

6. Debtors
2023 2022
£ £
Trade debtors 87 91
Other debtors 682 397
769 488

7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank Loans & Overdrafts 2,600 2,600
Trade creditors 6,826 5,306
Taxation & social security 1,620 1,306
Other creditors 12,390 11,239
23,436 20,451

8. Creditors: amounts falling due after one year
2023 2022
£ £
Bank Loans & overdrafts 6,066 8,628
6,066 8,628

9. Share capital
2023 2022
£ £
Allotted, called up and fully paid:
2 (2022: 2) Ordinary shares of £1.00 each 2 2
2 2