2022-03-01 2023-02-28 11230113 ACE Accountancy Ltd false 11230113 2022-03-01 2023-02-28 11230113 uk-bus:Director1 2022-03-01 2023-02-28 11230113 uk-bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11230113 uk-bus:SmallEntities 2022-03-01 2023-02-28 11230113 uk-bus:FullAccounts 2022-03-01 2023-02-28 11230113 uk-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11230113 2022-03-01 11230113 2023-02-28 11230113 2022-02-28 xbrli:pure iso4217:GBP 11230113 2021-03-01 2022-02-28
Company Registration Number : 11230113 (England and Wales)
11230113
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2023-02-28
false
ACE Accountancy Ltd
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2022-03-01
ACE Accountancy Ltd
Unaudited filleted financial statements
For the year ended 28 February 2023
ACE Accountancy Ltd
Contents
For the year ended 28 February 2023

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 6


ACE Accountancy Ltd
Company Information
For the year ended 28 February 2023

Company registration number 11230113 (England and Wales)
Director Jigar Surendra Mehta
Registered office address C/O Ace Accountancy Ltd
144 Station Road
Harrow
Middlesex
HA1 2RH
Accountant
ACE Accountancy Ltd
Statement of Financial Position
For the year ended 28 February 2023

2023 2022
Notes £ £
Fixed assets
Property, plant and equipment 67,817 5,406
7 67,817 5,406
Current assets
Debtors 42,800 42,205
Cash and cash equivalents 6,245 3,932
49,045 46,137
Current liabilities
Creditors: Amounts falling due within one year (39,951) (24,174)
Corporation tax payable (8,046) (17,155)
(47,997) (41,329)
Net current assets/(liabilities) 1,048 4,808
Total assets less current liabilities 68,865 10,215
Non-current liabilities
Creditors: Amounts falling due after more than one year (46,928) -
Provision for liabilities - (29)
Net assets/(liabilities) 21,937 10,186
Capital and reserves
Called up share capital 100 100
Retained earnings 21,837 10,086
Shareholder's funds 21,937 10,186
For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 28 February 2023 the company was entitled to exemption from audit 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 director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 09 April 2024
.............................
Jigar Surendra Mehta (Director)
Company registration number: 11230113
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2023-02-28 28 February 2023
2023 2022
£ £
Fixed Assets 67,817 5,406
Current Assets 49,045 46,137
Creditors: amounts falling due within one year (47,997) (41,329)
Net current assets (liabilities) 1,048 4,808
Total assets less current liabilities 68,865 10,215
CREDITORS: Amounts falling due more than one year (46,928) 0
Provisions for liabilities 0 (29)
Net Assets (liabilities) 21,937 10,186
Capital and Reserves 21,937 10,186
For the year ending 28/02/2023 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. For the year ending 28-02-2023 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 for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 09 April 2024 2024-04-09 and signed on behalf of the board,
.............................
Jigar Surendra Mehta
Director
Company registration number: 11230113
ACE Accountancy Ltd
Notes to the Financial Statements
For the year ended 28 February 2023

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is C/O Ace Accountancy Ltd, 144 Station Road, Harrow, Middlesex, HA1 2RH.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Rental income
Rental income from operating leases are recognised on a straight-line basis over the term of the relevant lease. Rental Income is included within other income from fixed assets.
Interest income
Interest income is recognised using the effective interest method.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings
Equipment
Motor Cars
Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

(4) Critical accounting judgements and key sources of estimation uncertainty
No judgement
No significant judgements or estimates have been made in preparation of these financial statements.

(5) Employees
During the year, the average number of employees including director was 2 (2022 : 2).

(6) Directors advances, credit and guarantees
Overdrawn
Jigar Surendra Mehta owed £ 26406.00 at the period end. £26,406 was repaid on 22 November 2023 .

(7) Fixed assets
Tangible

£
Cost
As at 01 March 20228,656
Additions64,894
As at 28 February 202373,550
Depreciation/Amortisation
As at 01 March 20223,250
For the year2,483
As at 28 February 20235,733
Net book value
As at 28 February 202367,817
As at 28 February 20225,406