Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 05867349 Mr Christopher Reed Mr Fiona Reed iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05867349 2022-07-31 05867349 2023-07-31 05867349 2022-08-01 2023-07-31 05867349 frs-core:CurrentFinancialInstruments 2023-07-31 05867349 frs-core:Non-currentFinancialInstruments 2023-07-31 05867349 frs-core:BetweenOneFiveYears 2023-07-31 05867349 frs-core:ComputerEquipment 2023-07-31 05867349 frs-core:ComputerEquipment 2022-08-01 2023-07-31 05867349 frs-core:ComputerEquipment 2022-07-31 05867349 frs-core:FurnitureFittings 2023-07-31 05867349 frs-core:FurnitureFittings 2022-08-01 2023-07-31 05867349 frs-core:FurnitureFittings 2022-07-31 05867349 frs-core:MotorVehicles 2023-07-31 05867349 frs-core:MotorVehicles 2022-08-01 2023-07-31 05867349 frs-core:MotorVehicles 2022-07-31 05867349 frs-core:WithinOneYear 2023-07-31 05867349 frs-core:ShareCapital 2023-07-31 05867349 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 05867349 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05867349 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 05867349 frs-bus:SmallEntities 2022-08-01 2023-07-31 05867349 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 05867349 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 05867349 frs-bus:Director1 2022-08-01 2023-07-31 05867349 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 05867349 frs-countries:EnglandWales 2022-08-01 2023-07-31 05867349 2021-07-31 05867349 2022-07-31 05867349 2021-08-01 2022-07-31 05867349 frs-core:CurrentFinancialInstruments 2022-07-31 05867349 frs-core:Non-currentFinancialInstruments 2022-07-31 05867349 frs-core:BetweenOneFiveYears 2022-07-31 05867349 frs-core:WithinOneYear 2022-07-31 05867349 frs-core:ShareCapital 2022-07-31 05867349 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 05867349
Ace Lifting Limited
Financial Statements
For The Year Ended 31 July 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05867349
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,217 8,202
6,217 8,202
CURRENT ASSETS
Stocks 5 6,000 6,000
Debtors 6 11,105 18,832
Cash at bank and in hand 6,338 4,982
23,443 29,814
Creditors: Amounts Falling Due Within One Year 7 (17,747 ) (19,572 )
NET CURRENT ASSETS (LIABILITIES) 5,696 10,242
TOTAL ASSETS LESS CURRENT LIABILITIES 11,913 18,444
Creditors: Amounts Falling Due After More Than One Year 8 - (3,036 )
NET ASSETS 11,913 15,408
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 11,813 15,308
SHAREHOLDERS' FUNDS 11,913 15,408
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For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Reed
Director
03/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ace Lifting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05867349 . The registered office is Wellington House 273-275 High Street, London Colney, St Albans, Herts, AL2 1HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 18,036 2,323 875 21,234
As at 31 July 2023 18,036 2,323 875 21,234
Depreciation
As at 1 August 2022 10,585 1,624 823 13,032
Provided during the period 1,863 105 17 1,985
As at 31 July 2023 12,448 1,729 840 15,017
Net Book Value
As at 31 July 2023 5,588 594 35 6,217
As at 1 August 2022 7,451 699 52 8,202
5. Stocks
2023 2022
£ £
Stock 6,000 6,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 10,951 18,678
Prepayments and accrued income 154 154
11,105 18,832
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,036 3,036
Trade creditors 2,123 1,104
Other taxes and social security 537 542
VAT 1,867 2,548
Accruals and deferred income 1,983 1,983
Director's loan account 8,201 10,359
17,747 19,572
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 3,036
- 3,036
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9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,398 3,398
Later than one year and not later than five years - 3,398
3,398 6,796
Less: Finance charges allocated to future periods 362 724
3,036 6,072
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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