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Company Registration No. 15037864 (England and Wales)
Ares Speed Ltd Unaudited accounts for the period from 31 July 2023 to 31 July 2024
Ares Speed Ltd Unaudited accounts Contents
Page
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Ares Speed Ltd Company Information for the period from 31 July 2023 to 31 July 2024
Director
Gabriel Bonta
Secretary
Sanda Bonta
Company Number
15037864 (England and Wales)
Registered Office
61 Nelthorpe Street Lincoln Lincolnshire LN5 7SJ England
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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Ares Speed Ltd Statement of financial position as at 31 July 2024
2024 
Notes
£ 
Fixed assets
Tangible assets
920 
Current assets
Cash at bank and in hand
44 
Creditors: amounts falling due within one year
(98)
Net current liabilities
(54)
Total assets less current liabilities
866 
Provisions for liabilities
Deferred tax
(202)
Net assets
664 
Capital and reserves
Called up share capital
4 
Profit and loss account
660 
Shareholders' funds
664 
For the period ending 31 July 2024 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 26 August 2024 and were signed on its behalf by
Gabriel Bonta Director Company Registration No. 15037864
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Ares Speed Ltd Notes to the Accounts for the period from 31 July 2023 to 31 July 2024
1
Statutory information
Ares Speed Ltd is a private company, limited by shares, registered in England and Wales, registration number 15037864. The registered office is 61 Nelthorpe Street, Lincoln, Lincolnshire, LN5 7SJ, 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 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:
Computer equipment
20% Reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Ares Speed Ltd Notes to the Accounts for the period from 31 July 2023 to 31 July 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 31 July 2023
- 
Additions
1,200 
At 31 July 2024
1,200 
Depreciation
Charge for the period
280 
At 31 July 2024
280 
Net book value
At 31 July 2024
920 
5
Creditors: amounts falling due within one year
2024 
£ 
Loans from directors
98 
6
Deferred taxation
2024 
£ 
Accelerated capital allowances
202 
2024 
£ 
Charged to the profit and loss account
202 
Provision at end of period
202 
A deferred taxation reserve has been created of some £202 due to accelerated capital allowances. This reserve will reverse in future periods creating a tax liability at the prevailing rate on the day.
7
Share capital
2024 
£ 
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4 
8
Average number of employees
During the period the average number of employees was 2.
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