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ACE TRAINERS LTD

Registered Number
08082854
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

ACE TRAINERS LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

Mr. Michael David Ray

Company Secretary

Mr. Michael David Ray

Registered Address

3 Ground Floor, Unit 3 Prism Park
Berrington Way
Basingstoke
RG24 8GT

Registered Number

08082854 (England and Wales)
ACE TRAINERS LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3184,574158,162
184,574158,162
Current assets
Debtors414,07112,168
Cash at bank and on hand-6,211
14,07118,379
Creditors amounts falling due within one year5(304,236)(257,738)
Net current assets (liabilities)(290,165)(239,359)
Total assets less current liabilities(105,591)(81,197)
Creditors amounts falling due after one year6(13,387)-
Net assets(118,978)(81,197)
Capital and reserves
Called up share capital100100
Profit and loss account(119,078)(81,297)
Shareholders' funds(118,978)(81,197)
The financial statements were approved and authorised for issue by the Director on 24 October 2024, and are signed on its behalf by:
Mr. Michael David Ray
Director
Registered Company No. 08082854
ACE TRAINERS LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.Average number of employees

20242023
Average number of employees during the year1111
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 June 2319,667297,07522,05521,938360,735
Additions-66,476-33566,811
Disposals-(121,865)--(121,865)
At 31 May 2419,667241,68622,05522,273305,681
Depreciation and impairment
At 01 June 2311,549159,10314,73517,186202,573
Charge for year1,21836,8261,0981,25840,400
On disposals-(121,866)--(121,866)
At 31 May 2412,76774,06315,83318,444121,107
Net book value
At 31 May 246,900167,6236,2223,829184,574
At 31 May 238,118137,9727,3204,752158,162
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables14,07112,167
Other debtors-1
Total14,07112,168
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables205,687175,777
Bank borrowings and overdrafts21,0281,980
Taxation and social security31,04928,806
Other creditors46,47251,175
Total304,236257,738
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,387-
Total13,387-