IRIS Accounts Production v24.1.9.2 06862033 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh068620332023-03-31068620332024-03-31068620332023-04-012024-03-31068620332022-03-31068620332022-04-012023-03-31068620332023-03-3106862033ns15:EnglandWales2023-04-012024-03-3106862033ns14:PoundSterling2023-04-012024-03-3106862033ns10:Director12023-04-012024-03-3106862033ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106862033ns10:SmallEntities2023-04-012024-03-3106862033ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106862033ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106862033ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106862033ns10:FullAccounts2023-04-012024-03-3106862033ns10:Director22023-04-012024-03-3106862033ns10:RegisteredOffice2023-04-012024-03-3106862033ns5:CurrentFinancialInstruments2024-03-3106862033ns5:CurrentFinancialInstruments2023-03-3106862033ns5:Non-currentFinancialInstruments2024-03-3106862033ns5:Non-currentFinancialInstruments2023-03-3106862033ns5:ShareCapital2024-03-3106862033ns5:ShareCapital2023-03-3106862033ns5:RetainedEarningsAccumulatedLosses2024-03-3106862033ns5:RetainedEarningsAccumulatedLosses2023-03-3106862033ns5:PlantMachinery2023-04-012024-03-3106862033ns5:MotorVehicles2023-04-012024-03-3106862033ns5:PlantMachinery2023-03-3106862033ns5:MotorVehicles2023-03-3106862033ns5:PlantMachinery2024-03-3106862033ns5:MotorVehicles2024-03-3106862033ns5:PlantMachinery2023-03-3106862033ns5:MotorVehicles2023-03-3106862033ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3106862033ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3106862033ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3106862033ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106862033ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 06862033 (England and Wales)















Aces Fire Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






Aces Fire Ltd (Registered number: 06862033)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Aces Fire Ltd

Company Information
for the Year Ended 31 March 2024







Directors: A M Sheehan
Mrs S L Sheehan





Registered office: Wesley House
St John's Road
Stalham
Norfolk
NR12 9BG





Registered number: 06862033 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Aces Fire Ltd (Registered number: 06862033)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 60,390 36,104

Current assets
Debtors 5 14,158 6,117
Cash at bank 3,827 19,133
17,985 25,250
Creditors
Amounts falling due within one year 6 11,612 9,099
Net current assets 6,373 16,151
Total assets less current liabilities 66,763 52,255

Creditors
Amounts falling due after more than one
year

7

(43,473

)

(27,353

)

Provisions for liabilities (11,474 ) (6,859 )
Net assets 11,816 18,043

Capital and reserves
Called up share capital 100 100
Retained earnings 11,716 17,943
Shareholders' funds 11,816 18,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Aces Fire Ltd (Registered number: 06862033)

Statement of Financial Position - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





A M Sheehan - Director


Aces Fire Ltd (Registered number: 06862033)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Aces Fire Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Aces Fire Ltd (Registered number: 06862033)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2023 - 2 ) .

4. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 April 2023 32,125 55,760 87,885
Additions 2,196 48,482 50,678
Disposals - (22,060 ) (22,060 )
At 31 March 2024 34,321 82,182 116,503
Depreciation
At 1 April 2023 24,571 27,210 51,781
Charge for year 1,950 13,148 15,098
Eliminated on disposal - (10,766 ) (10,766 )
At 31 March 2024 26,521 29,592 56,113
Net book value
At 31 March 2024 7,800 52,590 60,390
At 31 March 2023 7,554 28,550 36,104

Aces Fire Ltd (Registered number: 06862033)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 April 2023
and 31 March 2024 33,701
Depreciation
At 1 April 2023
and 31 March 2024 6,740
Net book value
At 31 March 2024 26,961
At 31 March 2023 26,961

5. Debtors: amounts falling due within one year
31/3/24 31/3/23
£    £   
Trade debtors 11,693 4,310
Other debtors 2,465 1,807
14,158 6,117

6. Creditors: amounts falling due within one year
31/3/24 31/3/23
£    £   
Hire purchase contracts 9,405 4,790
Trade creditors 2,826 120
Taxation and social security (5,016 ) 2,304
Other creditors 4,397 1,885
11,612 9,099

7. Creditors: amounts falling due after more than one year
31/3/24 31/3/23
£    £   
Bank loans - 10,195
Hire purchase contracts 43,473 17,158
43,473 27,353

8. Ultimate controlling party

The controlling party is A M Sheehan.