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REGISTERED NUMBER: 05745963 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ACE PROPERTY INVESTMENTS LIMITED

ACE PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACE PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D L Hopkins
K N Jones





SECRETARY: Mrs D L Hopkins





REGISTERED OFFICE: 7 Y Graig
Pant
Merthyr Tydfil
CF48 3SS





REGISTERED NUMBER: 05745963 (England and Wales)





ACCOUNTANTS: Baker Knoyle Chartered Accountants
Orbit Business Centre
Merthyr Tydfil
CF48 1DL

ACE PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 - 165,000

CURRENT ASSETS
Debtors 5 39,911 14,412
Cash at bank and in hand 192,005 117,844
231,916 132,256
CREDITORS
Amounts falling due within one year 6 7,778 40,373
NET CURRENT ASSETS 224,138 91,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

224,138

256,883

PROVISIONS FOR LIABILITIES - 7,600
NET ASSETS 224,138 249,283

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 7 - 52,397
Retained earnings 224,136 196,884
224,138 249,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)

BALANCE SHEET - continued
28 FEBRUARY 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 Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





K N Jones - Director


ACE PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Ace Property Investments 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

ACE PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 165,000
Disposals (165,000 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 165,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2020 20,000
Valuation in 2022 40,000
Cost (60,000 )

The director considers the valuation of the Investment Properties to be £Nil at the balance sheet date. The investment property Unit 15 was sold out during the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 39,911 14,412

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 6,172 38,977
Other creditors 1,606 1,396
7,778 40,373

7. RESERVES
Revaluation
reserve
£   
At 1 March 2022 52,397
Movement in year (52,397 )

At 28 February 2023 -

ACE PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
K N Jones
Balance outstanding at start of year 21,124 (103,139 )
Amounts advanced 28,771 124,263
Amounts repaid (26,291 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,604 21,124

D L Hopkins
Balance outstanding at start of year - -
Amounts advanced 25,291 -
Amounts repaid (12,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,291 -

9. LETTING OF UNIT TO A RELATED PARTY

Unit 3 Cyfartha road was occupied by Ace Building Contractors (Wales) Limited a company previously owned by Mr K N Jones but was sold out to Gth Development Ltd during the year, No rents were received during the period in respect of this,