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REGISTERED NUMBER: 01061402 (England and Wales)
















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Acoustical Control Engineers Limited

Acoustical Control Engineers Limited (Registered number: 01061402)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Acoustical Control Engineers Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: R A Collman





REGISTERED OFFICE: Broadway
Bourn
Cambridgeshire
CB23 2TA





REGISTERED NUMBER: 01061402 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Acoustical Control Engineers Limited (Registered number: 01061402)

Abridged Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 171,776 194,761

CURRENT ASSETS
Stocks 33,000 33,000
Debtors 298,947 284,013
331,947 317,013
CREDITORS
Amounts falling due within one year 297,497 192,581
NET CURRENT ASSETS 34,450 124,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

206,226

319,193

CREDITORS
Amounts falling due after more than one
year

(35,624

)

(213,125

)

PROVISIONS FOR LIABILITIES 8 (29,719 ) (33,554 )
NET ASSETS 140,883 72,514

CAPITAL AND RESERVES
Called up share capital 9 5,100 5,100
Retained earnings 135,783 67,414
SHAREHOLDERS' FUNDS 140,883 72,514

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 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.

Acoustical Control Engineers Limited (Registered number: 01061402)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 November 2023 and were signed by:





R A Collman - Director


Acoustical Control Engineers Limited (Registered number: 01061402)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Acoustical Control Engineers 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.

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.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Government grants are recognised in the financial statements using the accruals model. Grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable.

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

Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

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.


Acoustical Control Engineers Limited (Registered number: 01061402)

Notes to the Financial Statements - continued
for the Year Ended 28 February 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Long term contracts
Profit on contracting activities is taken as work progresses. Unless a more conservative approach is necessary, the percentage margin on each individual contract is the lower of the margin earned to date and that forecast to completion. Full provision is made for contract losses as soon as they are foreseen. Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 17 ) .

Acoustical Control Engineers Limited (Registered number: 01061402)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 663,880
Additions 1,961
At 28 February 2023 665,841
DEPRECIATION
At 1 March 2022 469,119
Charge for year 24,946
At 28 February 2023 494,065
NET BOOK VALUE
At 28 February 2023 171,776
At 28 February 2022 194,761

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2022
and 28 February 2023 36,705
DEPRECIATION
At 1 March 2022 15,412
Charge for year 5,324
At 28 February 2023 20,736
NET BOOK VALUE
At 28 February 2023 15,969
At 28 February 2022 21,293

5. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,875 29,750
Other loans 21,500 -
31,375 29,750

Acoustical Control Engineers Limited (Registered number: 01061402)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. LOANS - continued
28.2.23 28.2.22
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 10,107 40,096
Other loans - 1-2 years 9,034 -
19,141 40,096

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,483 27,642

6. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

28.2.23 28.2.22
£    £   
Net obligations repayable:
Within one year 5,844 8,766
Between one and five years - 5,844
5,844 14,610

7. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bounce back loan 36,464 46,071

On 7 September 2016 a fixed and floating charge was registered against the assets of the company in relation to the loan from the shareholders, Richard A Collman and Anne M Collman
The loan of £100,000 drawn down dated 4 March 2019 with HSBC UK Bank PLC is secured against, albeit not exclusively limited to, all fixed assets as held by the Company.

On 5 April 2020 delivered a debenture with a mixture of fixed and floating charges of which is secured over, albeit not exclusively limited to, all fixed assets, trade debtors and cash at bank as held by the Company.

In September 2020 the company received a government backed loan in light of the Covid 19 pandemic. The loan is secured by the government over a 6 year repayment period. The loan is repaid in installments which began in October 2021. Interest is charged at 2.5% per annum from the first repayment date.

8. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 29,719 33,554

Acoustical Control Engineers Limited (Registered number: 01061402)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2022 33,554
Accelerated capital allowances (3,835 )
Balance at 28 February 2023 29,719

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
5,000 Ordinary A £1 5,000 5,000
100 Ordinary B £1 100 100
5,100 5,100

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £12,349 (2022: £13,167). The pension contributions outstanding at the year end amounted to £4,321 (2022 - £11,023).

11. RELATED PARTY DISCLOSURES

As at the balance date there is a director loan account due by the Company to the Director of £93,299 (2022 - £176,318). The loan is repayable on demand. Interest paid on the loan for the financial year amounted to £6,036 (2022 - £7,906).