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Company Registration No. 08630346 (England and Wales)
ACER SALES LTD Unaudited accounts for the year ended 31 October 2023
ACER SALES LTD Unaudited accounts Contents
Page
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ACER SALES LTD Company Information for the year ended 31 October 2023
Director
Yasmin KHAN
Company Number
08630346 (England and Wales)
Registered Office
21 HYDE PARK ROAD LEEDS LS6 1PY ENGLAND
Accountants
HLA Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of ACER SALES LTD for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ACER SALES LTD for the year ended 31 October 2023 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
HLA Accountants Chartered Certified Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY 8 August 2024
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ACER SALES LTD Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,475 
9,971 
Current assets
Inventories
47,260 
42,260 
Debtors
7,510 
7,346 
Cash at bank and in hand
3,205 
3,621 
57,975 
53,227 
Creditors: amounts falling due within one year
(33,593)
(10,255)
Net current assets
24,382 
42,972 
Total assets less current liabilities
32,857 
52,943 
Creditors: amounts falling due after more than one year
(32,072)
(41,246)
Net assets
785 
11,697 
Capital and reserves
Profit and loss account
785 
11,697 
Shareholders' funds
785 
11,697 
For the year ending 31 October 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 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 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.
The financial statements were approved by the Board and authorised for issue on 8 August 2024 and were signed on its behalf by
Yasmin KHAN Director Company Registration No. 08630346
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ACER SALES LTD Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
ACER SALES LTD is a private company, limited by shares, registered in England and Wales, registration number 08630346. The registered office is 21 HYDE PARK ROAD, LEEDS, LS6 1PY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% diminishing balance method.
Fixtures & fittings
20% diminishing balance method.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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ACER SALES LTD Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
18,000 
10,749 
28,749 
At 31 October 2023
18,000 
10,749 
28,749 
Depreciation
At 1 November 2022
11,574 
7,204 
18,778 
Charge for the year
964 
532 
1,496 
At 31 October 2023
12,538 
7,736 
20,274 
Net book value
At 31 October 2023
5,462 
3,013 
8,475 
At 31 October 2022
6,426 
3,545 
9,971 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,807 
1,321 
Amounts falling due after more than one year
Trade debtors
5,703 
6,025 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
8,245 
10,255 
Loans from directors
25,348 
- 
33,593 
10,255 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
32,072 
41,246 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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