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Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Ace Fire Protection Limited

Ace Fire Protection Limited (Registered number: 03019242)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ace Fire Protection Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A Carter
Mrs N Barr





REGISTERED OFFICE: 146 High Street
Billericay
Essex
CM12 9DF





REGISTERED NUMBER: 03019242 (England and Wales)





ACCOUNTANTS: Michael Letch & Partners LLP
Accountants and Statutory Auditors
146 High Street
Billericay
Essex
CM12 9DF

Ace Fire Protection Limited (Registered number: 03019242)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 368,110 378,881
Investments 5 135,055 -
503,165 378,881

CURRENT ASSETS
Stocks 835 652
Debtors 6 304,972 341,330
Cash at bank and in hand 557,360 589,937
863,167 931,919
CREDITORS
Amounts falling due within one year 7 171,213 138,176
NET CURRENT ASSETS 691,954 793,743
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,195,119

1,172,624

CREDITORS
Amounts falling due after more than one
year

8

(82,833

)

(80,785

)

PROVISIONS FOR LIABILITIES (2,457 ) (2,744 )
NET ASSETS 1,109,829 1,089,095

CAPITAL AND RESERVES
Called up share capital 90 90
Capital redemption reserve 9 10 10
Retained earnings 9 1,109,729 1,088,995
1,109,829 1,089,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Ace Fire Protection Limited (Registered number: 03019242)

Balance Sheet - continued
31 December 2023


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 20 September 2024 and were signed on its behalf by:





A Carter - Director


Ace Fire Protection Limited (Registered number: 03019242)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ace Fire Protection Limited 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.

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.

Going concern
After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they adopt the going concern basis in preparing the financial statements.

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.
Land and buildings - Straight line over 50 years
Plant and machinery etc - 25% on reducing balance and Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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

Ace Fire Protection Limited (Registered number: 03019242)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 369,500 16,777 42,588 1,158 430,023
DEPRECIATION
At 1 January 2023 9,800 16,185 24,341 816 51,142
Charge for year 5,800 148 4,562 261 10,771
At 31 December 2023 15,600 16,333 28,903 1,077 61,913
NET BOOK VALUE
At 31 December 2023 353,900 444 13,685 81 368,110
At 31 December 2022 359,700 592 18,247 342 378,881

Included in cost of land and buildings is freehold land of £ 75,000 (2022 - £ 75,000 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Other 135,055 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 36,989 137,172
Other debtors 10,816 11,016
Directors' current accounts 146,782 143,608
Tax 46,673 46,673
Accrued income 62,737 -
Prepayments 975 2,861
304,972 341,330

Ace Fire Protection Limited (Registered number: 03019242)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,106 9,851
Other loans 42,098 37,967
Hire purchase contracts 29,220 1,041
Trade creditors 10,886 6,237
Tax 16,735 25,533
Social security and other taxes 3,488 9,551
Other creditors 900 610
Accrued expenses 57,780 47,386
171,213 138,176

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,361 10,106
Bank loans - 2-5 years 7,049 17,411
Other loans - 1-2 years - 42,098
Other loans - 2-5 years 11,170 11,170
Hire purchase contracts 54,253 -
82,833 80,785

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 1,088,995 10 1,089,005
Profit for the year 20,734 20,734
At 31 December 2023 1,109,729 10 1,109,739