Registered Number 09634830

ACE PROPERTY LONDON LTD

Micro-entity Accounts

30 June 2023

ACE PROPERTY LONDON LTD Registered Number 09634830

Micro-entity Balance Sheet as at 30 June 2023

Notes 2023 2022
£ £
Called up share capital not paid
-
-
Fixed Assets
368,809
368,809
Current Assets
18,440
4,983
Creditors: amounts falling due within one year
(3,150)
(3,150)
Net current assets (liabilities)
15,290
1,833
Total assets less current liabilities
384,099
370,642
Creditors: amounts falling due after more than one year
(382,397)
(372,397)
Accruals and deferred income
(1,600)
(1,600)
Total net assets (liabilities)
102
(3,355)
Capital and reserves
102
(3,355)
  • For the year ending 30 June 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.
  • The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
  • The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 February 2024

And signed on their behalf by:
K. Potiwal, Director

ACE PROPERTY LONDON LTD Registered Number 09634830

Notes to the Micro-entity Accounts for the period ended 30 June 2023

1Employees
2023 2022
Average number of employees during the period 2 1
2Off balance sheet arrangements
2. Contingent Liabilities
The potential liability relating to property management (2018) has been partially settled in favour of the company at the Court of Appeal for £2,700 (2019 notes estimated c.£20k). However, the Director feels it is prudent to leave a contingent liability note in the accounts for any possible future liabilities of c.£3k for a period of 6 years (limitations period for potential claims).

3. Depreciation
This relates to an investment property. A departure from depreciating this asset has been taken due to the current market value of the asset remaining the same as the NBV as of 2022. This methodology and measurement will be reassessed next year once the pandemic subsides, and real values can be ascertained in accordance with FRS15 /FRS105.