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Registered number: 08317150
ACE CLEAN ENERGY LTD
Unaudited Financial Statements
For The Year Ended 31 December 2023
ACTS Global Ltd
3rd Floor, Norvin House
45-55 Commercial Street
London
E1 6BD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08317150
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 2,140,518 1,629,990
2,140,518 1,629,990
CURRENT ASSETS
Debtors 5 592,761 437,079
Cash at bank and in hand 48,044 325,701
640,805 762,780
Creditors: Amounts Falling Due Within One Year 6 (110,994 ) (59,988 )
NET CURRENT ASSETS (LIABILITIES) 529,811 702,792
TOTAL ASSETS LESS CURRENT LIABILITIES 2,670,329 2,332,782
NET ASSETS 2,670,329 2,332,782
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 2,670,229 2,332,682
SHAREHOLDERS' FUNDS 2,670,329 2,332,782
Page 1
Page 2
For the year ending 31 December 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 directors acknowledge their 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
Ms Martina Turner
Director
11th September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
ACE CLEAN ENERGY LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08317150 . The registered office is 3rd Floor, Norvin House, 45-55 Commercial Street, London, E1 6BD.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
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.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Investments
Unlisted
£
Cost
As at 1 January 2023 1,629,990
Additions 510,528
As at 31 December 2023 2,140,518
Provision
As at 1 January 2023 -
As at 31 December 2023 -
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 2,140,518
As at 1 January 2023 1,629,990
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 196,361 436,979
Called up share capital not paid 100 100
196,461 437,079
Due after more than one year
Other debtors 396,300 -
592,761 437,079
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - (1 )
Corporation tax 103,809 49,771
Other creditors - 5,218
Accruals and deferred income 7,185 5,000
110,994 59,988
7. Share Capital
2023 2022
£ £
Called Up Share Capital not Paid 100 100
Amount of Allotted, Called Up Share Capital 100 100
8. Financial Instruments
Page 4