Ace Glazed Products Limited
Registered number: 04594259
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 33,940 36,396
Current assets
Stocks 54,120 56,750
Debtors 4 38,611 42,583
Cash at bank and in hand 100,530 135,078
193,261 234,411
Creditors: amounts falling due within one year 5 (38,457) (81,041)
Net current assets 154,804 153,370
Net assets 188,744 189,766
Capital and reserves
Called up share capital 100 100
Profit and loss account 188,644 189,666
Shareholders' funds 188,744 189,766
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 accounts.
The accounts 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.
Mr C D Webber
Director
Approved by the board on 29 October 2024
Ace Glazed Products Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 and installation of UPVC products . Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, and, at rates calculated to write off the cost, less estimated residual value, of each asset using reducing balance method, as follows:
Plant and machinery 10% reducing
Motor vans 10% reducing
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 82,578 34,166 116,744
Additions 1,314 - 1,314
At 31 January 2024 83,892 34,166 118,058
Depreciation
At 1 February 2023 60,555 19,793 80,348
Charge for the year 2,333 1,437 3,770
At 31 January 2024 62,888 21,230 84,118
Net book value
At 31 January 2024 21,004 12,936 33,940
At 31 January 2023 22,023 14,373 36,396
4 Debtors 2024 2023
£ £
Trade debtors 38,611 42,583
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 26,997 54,496
Taxation and social security costs 10,351 26,470
Other creditors 1,109 75
38,457 81,041
6 Other information
Ace Glazed Products Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Stadium Close
Penarth Road
Cardiff
CF11 8TS
Ace Glazed Products Limited 04594259 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 Mr C D Webber No description of principal activity 04594259 2022-02-01 2023-01-31 04594259 core:WithinOneYear 2023-01-31 04594259 core:ShareCapital 2023-01-31 04594259 core:RetainedEarningsAccumulatedLosses 2023-01-31 04594259 2023-02-01 2024-01-31 04594259 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04594259 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04594259 bus:Director40 2023-02-01 2024-01-31 04594259 core:PlantMachinery 2023-02-01 2024-01-31 04594259 core:Vehicles 2023-02-01 2024-01-31 04594259 countries:England 2023-02-01 2024-01-31 04594259 bus:FRS102 2023-02-01 2024-01-31 04594259 bus:FilletedAccounts 2023-02-01 2024-01-31 04594259 2024-01-31 04594259 core:WithinOneYear 2024-01-31 04594259 core:ShareCapital 2024-01-31 04594259 core:RetainedEarningsAccumulatedLosses 2024-01-31 04594259 core:PlantMachinery 2024-01-31 04594259 core:Vehicles 2024-01-31 04594259 2023-01-31 04594259 core:PlantMachinery 2023-01-31 04594259 core:Vehicles 2023-01-31 iso4217:GBP xbrli:pure