Ace Glass & Mirrors Limited 06080069 producing glass and mirror products false 1 August 2023 06080069 2023-08-01 2024-07-31 06080069 2023-07-31 06080069 2024-07-31 06080069 2022-08-01 2023-07-31 06080069 2022-07-31 06080069 2023-07-31 06080069 frs102-bus:FRS102 2023-08-01 2024-07-31 06080069 frs102-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06080069 frs102-bus:FullAccounts 2023-08-01 2024-07-31 06080069 frs102-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 06080069 frs102-core:CurrentFinancialInstruments 2024-07-31 06080069 frs102-core:CurrentFinancialInstruments 2023-07-31 06080069 frs102-core:Non-currentFinancialInstruments 2024-07-31 06080069 frs102-core:Non-currentFinancialInstruments 2023-07-31 06080069 frs102-core:ShareCapital 2024-07-31 06080069 frs102-core:ShareCapital 2023-07-31 06080069 frs102-core:RetainedEarningsAccumulatedLosses 2024-07-31 06080069 frs102-core:RetainedEarningsAccumulatedLosses 2023-07-31 06080069 frs102-bus:Director1 2023-08-01 2024-07-31 06080069 frs102-core:ToolsEquipment 2023-08-01 2024-07-31 06080069 frs102-core:Vehicles 2023-08-01 2024-07-31 06080069 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2023-07-31 06080069 frs102-core:Vehicles 2023-07-31 06080069 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2023-08-01 2024-07-31 06080069 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2024-07-31 06080069 frs102-core:Vehicles 2024-07-31 06080069 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2023-07-31 06080069 frs102-core:Vehicles 2023-07-31 06080069 frs102-bus:OrdinaryShareClass1 2024-07-31 06080069 frs102-bus:OrdinaryShareClass1 2023-07-31 06080069 frs102-bus:OrdinaryShareClass1 2023-08-01 2024-07-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares
Registered number
06080069
Ace Glass & Mirrors Limited
Unaudited Accounts
for the year ended
31 July 2024
Ace Glass & Mirrors Limited
Balance Sheet
as at 31 July 2024
Notes
2024
£
2023
£
Fixed assets
Tangible assets 4 5,771 7,494
5,771 7,494
Current assets
Stocks 5 4,281 3,941
Debtors 6 2,234 769
Cash at bank and in hand 2,950 3,474
9,465 8,184
Creditors: amounts falling due within one year 7 (27,493) (23,436)
Net current assets / (liabilities) (18,028) (15,252)
Total assets less current liabilities (12,257) (7,758)
Creditors: amounts falling due after more than one year 8 (3,448) (6,066)
Provisions for liabilities (0) (0)
Accruals and deferred income (1,100) (1,100)
Total net assets (liabilities) (16,805) (14,924)
Capital and reserves
Called up share capital 9 2 2
Profit and loss account (16,807) (14,926)
Shareholders' funds (16,805) (14,924)

Ace Glass & Mirrors Limited
Balance Sheet
as at 31 July 2024



These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 July 2024 the company was entitled to exemption 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.

Signed on behalf of the board of directors

...............................

Mr A Feast

Director


Approved by the board on 5 November 2024

Company Number: 06080069 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

87-89 Alder Road
Poole
Dorset
BH12 2AB

Ace Glass & Mirrors Limited
Notes to the Accounts
for the year ended 31 July 2024

1. Accounting policies

Basis of preparation of financial statements
These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
Going concern basis
The company is funded by a loan from the director. The director has considered the next 12 months and due to the director's continued support by way of the loan, the director has considered it appropriate to prepare the financial statements on the going concern basis.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.
Equipment 25% Reducing Balance
Vehicles 25% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives.
Stocks
Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares that are measured at fair value. Derivative financial instruments are initially recorded at cost and thereafter at fair value. All changes in fair value are recognised in the profit or loss account in the period in which they occurred.
2. Employees
2024 2023
Average number of employees during the period 2 3

3. Intangible fixed assets
Total
Cost £
At 1 August 2023 8,000
At 31 July 2024 8,000
Amortisation
At 1 August 2023 8,000
At 31 July 2024 8,000
Net book value
At 31 July 2024 0
At 31 July 2023 0

4. Tangible fixed assets
Equipment Vehicles Total
Cost or valuation £ £ £
At 1 August 2023 6,796 11,053 17,849
Additions 200 0 200
At 31 July 2024 6,996 11,053 18,049
Depreciation
At 1 August 2023 5,519 4,836 10,355
Charge for the period 369 1,554 1,923
At 31 July 2024 5,888 6,390 12,278
Net book value
At 31 July 2024 1,108 4,663 5,771
At 31 July 2023 1,277 6,217 7,494

5. Stocks
2024 2023
£ £
Stocks of raw materials and consumables 3,869 2,786
Work in progress 412 1,155
4,281 3,941

6. Debtors
2024 2023
£ £
Trade debtors 812 87
Other debtors 1,422 682
2,234 769

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank Loans & Overdrafts 2,600 2,600
Trade creditors 5,272 6,826
Taxation & social security 1,436 1,620
Other creditors 18,185 12,390
27,493 23,436

8. Creditors: amounts falling due after one year
2024 2023
£ £
Bank Loans & overdrafts 3,448 6,066
3,448 6,066

9. Share capital
2024 2023
£ £
Allotted, called up and fully paid:
2 (2023: 2) Ordinary shares of £1.00 each 2 2
2 2