Company registration number 14966983 (England and Wales)
AC Engineering And Technical Translations Ltd
Unaudited Financial Statements
For the Period ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
AC Engineering And Technical Translations Ltd
Contents
Page
Company information
Balance sheet
1
Notes to the financial statements
2 - 4
AC Engineering And Technical Translations Ltd
Balance sheet
For the period ended 31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
2,196
Current assets
Debtors
4
18,125
Cash at bank and in hand
114,891
133,016
Creditors: amounts falling due within one year
5
(94,489)
Net current assets
38,527
Net assets
40,723
Capital and reserves
Called up share capital
100
Profit and loss reserves
40,623
Total equity
40,723

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 22 July 2024 and are signed on its behalf by:
Mrs A Christoforou
Director
Company registration number 14966983 (England and Wales)
AC Engineering And Technical Translations Ltd
Notes to the Financial Statements
For the Period ended 31 March 2024
- 2 -
1
Accounting policies
Company information

AC Engineering and Technical Translations Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, AL1 1LJ.

1.1
Reporting period

The annual financial statements are presented for a period shorter than one year, as the year-end was changed after incorporation. As this is the first set of annual financial statements that have been prepared, there are no comparative amounts presented in the financial statements.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

 

 

AC Engineering And Technical Translations Ltd
Notes to the Financial Statements (Continued)
For the Period ended 31 March 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

 

Basic financial liabilities

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
1
AC Engineering And Technical Translations Ltd
Notes to the Financial Statements (Continued)
For the Period ended 31 March 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 28 June 2023
-
0
Additions
2,342
At 31 March 2024
2,342
Depreciation and impairment
At 28 June 2023
-
0
Depreciation charged in the period
146
At 31 March 2024
146
Carrying amount
At 31 March 2024
2,196
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
18,125
5
Creditors: amounts falling due within one year
2024
£
Taxation and social security
34,111
Other creditors
60,378
94,489
6
Related party transactions
2024
Amounts due to related parties
£
Mrs A Christoforou
56,327
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