2aces Limited 11098538 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of information technology consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 11098538 2023-01-01 2023-12-31 11098538 2023-12-31 11098538 core:CurrentFinancialInstruments 2023-12-31 11098538 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11098538 core:MotorVehicles 2023-12-31 11098538 core:OfficeEquipment 2023-12-31 11098538 bus:SmallEntities 2023-01-01 2023-12-31 11098538 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11098538 bus:FullAccounts 2023-01-01 2023-12-31 11098538 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11098538 bus:RegisteredOffice 2023-01-01 2023-12-31 11098538 bus:Director1 2023-01-01 2023-12-31 11098538 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11098538 core:MotorVehicles 2023-01-01 2023-12-31 11098538 core:OfficeEquipment 2023-01-01 2023-12-31 11098538 countries:EnglandWales 2023-01-01 2023-12-31 11098538 2022-12-31 11098538 core:MotorVehicles 2022-12-31 11098538 core:OfficeEquipment 2022-12-31 11098538 2022-01-01 2022-12-31 11098538 2022-12-31 11098538 core:CurrentFinancialInstruments 2022-12-31 11098538 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 11098538 core:MotorVehicles 2022-12-31 11098538 core:OfficeEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 11098538

2aces Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

2aces Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

2aces Limited

(Registration number: 11098538)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

9,973

12,830

Current assets

 

Debtors

7

574

15,330

Cash at bank and in hand

 

24,305

8,511

 

24,879

23,841

Creditors: Amounts falling due within one year

8

(17,712)

(16,723)

Net current assets

 

7,167

7,118

Total assets less current liabilities

 

17,140

19,948

Provisions for liabilities

(2,438)

(2,438)

Net assets

 

14,702

17,510

Capital and reserves

 

Called up share capital

10

10

Retained earnings

14,692

17,500

Shareholders' funds

 

14,702

17,510

 

2aces Limited

(Registration number: 11098538)
Balance Sheet as at 31 December 2023

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

Directors' 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 directors acknowledge their 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 February 2024 and signed on its behalf by:
 

.........................................
A R P Laroche
Director

 

2aces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 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 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

Turnover comprises the fair value of the consideration received or receivable for the provision of information technology consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

2aces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Motor Vehicles

20% straight line

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.

Debtors

Trade debtors are amounts due from customers for information technology consultancy services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Taxation

2023

2022

£

£

Corporation tax

17,113

16,084

17,113

16,084

 

2aces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Staff numbers

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

5

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

4,137

4,193

6

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

3,873

17,500

21,373

Additions

1,280

-

1,280

At 31 December 2023

5,153

17,500

22,653

Depreciation

At 1 January 2023

1,543

7,000

8,543

Charge for the year

637

3,500

4,137

At 31 December 2023

2,180

10,500

12,680

Carrying amount

At 31 December 2023

2,973

7,000

9,973

At 31 December 2022

2,330

10,500

12,830

7

Debtors

Current

2023
£

2022
£

Trade debtors

-

8,508

Prepayments

370

150

Other debtors

204

6,672

 

574

15,330

 

2aces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

237

377

Taxation and social security

17,113

16,084

Other creditors

362

262

17,712

16,723

9

Related party transactions

Other transactions with directors

At the balance sheet date directors A Laroche and A Sakanoko-Laroche had a loan with the company totaling £362 (2022- £262).