3Ace Contractors (UK) Ltd |
Registered number: |
09012700 |
Balance Sheet |
as at 30 April 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
- |
|
|
1,356 |
|
Current assets |
Debtors |
4 |
|
1,112,329 |
|
|
791,208 |
Cash at bank and in hand |
|
|
313,811 |
|
|
316,266 |
|
|
|
1,426,140 |
|
|
1,107,474 |
|
Creditors: amounts falling due within one year |
5 |
|
(621,055) |
|
|
(257,813) |
|
Net current assets |
|
|
|
805,085 |
|
|
849,661 |
|
Net assets |
|
|
|
805,085 |
|
|
851,017 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
675 |
|
|
675 |
Profit and loss account |
|
|
|
804,410 |
|
|
850,342 |
|
Shareholders' funds |
|
|
|
805,085 |
|
|
851,017 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. |
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
The financial statements were approved and authorised for issue by the board on: |
|
|
Christos Neofytou |
Director |
Signed on behalf of the board on 26 July 2024 |
|
3Ace Contractors (UK) Ltd |
Notes to the Accounts |
for the year ended 30 April 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
3Ace Contractors (UK) Limited is a company limited by shares incorporated in England within the United Kingdom. The registration number, the principle place of business and registered office addresses are given in the company information on page 1 of these financial statements. The financial statements cover the individual entity, are presented in sterling which is the functional currency of the company and are not rounded. The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The significant accounting policies applied in the preparation of these financial statements are set out below. The financial statements have been prepared under the historical cost convention. |
|
|
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 |
|
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
9 |
|
9 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 May 2023 |
57,529 |
|
13,744 |
|
71,273 |
|
At 30 April 2024 |
57,529 |
|
13,744 |
|
71,273 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2023 |
56,173 |
|
13,744 |
|
69,917 |
|
Charge for the year |
1,356 |
|
- |
|
1,356 |
|
At 30 April 2024 |
57,529 |
|
13,744 |
|
71,273 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2024 |
- |
|
- |
|
- |
|
At 30 April 2023 |
1,356 |
|
- |
|
1,356 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
590,424 |
|
284,975 |
|
Accrued income |
|
|
|
|
452,081 |
|
390,947 |
|
Other debtors |
69,824 |
|
115,286 |
|
|
|
|
|
|
1,112,329 |
|
791,208 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
2,041 |
|
2,107 |
|
Accruals |
184,992 |
|
30,419 |
|
Trade creditors |
363,765 |
|
182,847 |
|
Taxation and social security costs |
68,325 |
|
39,952 |
|
Other creditors |
1,932 |
|
2,488 |
|
|
|
|
|
|
621,055 |
|
257,813 |
|
|
|
|
|
|
|
|
|
|
6 |
Other information |
|
|
3Ace Contractors (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
2nd Floor |
|
10-12 Bourlet Close |
|
London |
|
W1W 7BR |