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REGISTERED NUMBER: 05143625 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Ace Construction Enterprises
(Leicester) Limited
Trading as
Ace Leicester

Ace Construction Enterprises
(Leicester) Limited (Registered number: 05143625)
Trading as Ace Leicester






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ace Construction Enterprises
(Leicester) Limited
Trading as Ace Leicester

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr D Crumbie
Mrs M L Crumbie





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
LE1 3RW





REGISTERED NUMBER: 05143625 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Ace Construction Enterprises
(Leicester) Limited (Registered number: 05143625)
Trading as Ace Leicester

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,404 24,212

CURRENT ASSETS
Stocks 16,000 4,000
Debtors 5 276,718 94,228
Cash at bank 26,915 118,192
319,633 216,420
CREDITORS
Amounts falling due within one year 6 (249,150 ) (147,739 )
NET CURRENT ASSETS 70,483 68,681
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,887

92,893

CREDITORS
Amounts falling due after more than one
year

7

(23,333

)

(33,333

)

PROVISIONS FOR LIABILITIES (2,525 ) (3,880 )
NET ASSETS 57,029 55,680

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 57,027 55,678
SHAREHOLDERS' FUNDS 57,029 55,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Construction Enterprises
(Leicester) Limited (Registered number: 05143625)
Trading as Ace Leicester

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by:





Mr D Crumbie - Director


Ace Construction Enterprises
(Leicester) Limited (Registered number: 05143625)
Trading as Ace Leicester

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Ace Construction Enterprises (Leicester) 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.

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

Significant contracts, where time taken to complete the contract is such that the contract activity falls into different accounting periods, are accounted for as long-term contracts.

Where it is considered that the outcome of a long-term contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the profit and loss account based on the proportion of the costs incurred to date to the anticipated costs of the whole contract. Cost includes all direct expenditure and an appropriate proportion of variable direct overheads. Provision is made for foreseeable losses on such contracts if appropriate.

Due to their inherent risk retentions are accounted for on receipt.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% - 33% on cost
Computer equipment - 33% on cost

Stock
Stocks and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Ace Construction Enterprises
(Leicester) Limited (Registered number: 05143625)
Trading as Ace Leicester

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 July 2022
and 30 June 2023 10,400 48,040 3,598
DEPRECIATION
At 1 July 2022 4,160 44,099 3,598
Charge for year 2,080 1,858 -
At 30 June 2023 6,240 45,957 3,598
NET BOOK VALUE
At 30 June 2023 4,160 2,083 -
At 30 June 2022 6,240 3,941 -

Ace Construction Enterprises
(Leicester) Limited (Registered number: 05143625)
Trading as Ace Leicester

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 25,948 12,821 100,807
DEPRECIATION
At 1 July 2022 12,672 12,066 76,595
Charge for year 7,383 487 11,808
At 30 June 2023 20,055 12,553 88,403
NET BOOK VALUE
At 30 June 2023 5,893 268 12,404
At 30 June 2022 13,276 755 24,212

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 135,352 30,958
Amounts recoverable on contract 102,930 37,622
Other debtors 38,436 25,648
276,718 94,228

Other debtors includes prepayments of £4,253 (2022: £4,231).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 177,593 85,693
Taxation and social security 42,159 22,952
Other creditors 19,398 29,094
249,150 147,739

Other creditors includes accruals and deferred income of £8,221 (2022: £2,000).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 23,333 33,333

Ace Construction Enterprises
(Leicester) Limited (Registered number: 05143625)
Trading as Ace Leicester

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
Mr D Crumbie
Balance outstanding at start of year - -
Amounts advanced 1,959 29,713
Amounts repaid (1,959 ) (29,713 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above loan was interest free and repayable on demand.