Silverfin false false 31/03/2024 01/04/2023 31/03/2024 C D Hookey 16/05/2017 13 November 2024 The principal activity of the Company during the financial year was supply and installing of safes and vaults. 09378499 2024-03-31 09378499 bus:Director1 2024-03-31 09378499 2023-03-31 09378499 core:CurrentFinancialInstruments 2024-03-31 09378499 core:CurrentFinancialInstruments 2023-03-31 09378499 core:Non-currentFinancialInstruments 2024-03-31 09378499 core:Non-currentFinancialInstruments 2023-03-31 09378499 core:ShareCapital 2024-03-31 09378499 core:ShareCapital 2023-03-31 09378499 core:RetainedEarningsAccumulatedLosses 2024-03-31 09378499 core:RetainedEarningsAccumulatedLosses 2023-03-31 09378499 core:PlantMachinery 2023-03-31 09378499 core:Vehicles 2023-03-31 09378499 core:ComputerEquipment 2023-03-31 09378499 core:PlantMachinery 2024-03-31 09378499 core:Vehicles 2024-03-31 09378499 core:ComputerEquipment 2024-03-31 09378499 2023-04-01 2024-03-31 09378499 bus:FilletedAccounts 2023-04-01 2024-03-31 09378499 bus:SmallEntities 2023-04-01 2024-03-31 09378499 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09378499 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09378499 bus:Director1 2023-04-01 2024-03-31 09378499 core:PlantMachinery 2023-04-01 2024-03-31 09378499 core:Vehicles 2023-04-01 2024-03-31 09378499 core:ComputerEquipment 2023-04-01 2024-03-31 09378499 2022-04-01 2023-03-31 09378499 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 09378499 (England and Wales)

ACE SAFES (UK) LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ACE SAFES (UK) LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ACE SAFES (UK) LTD

BALANCE SHEET

As at 31 March 2024
ACE SAFES (UK) LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,652 2,203
1,652 2,203
Current assets
Stocks 4 33,500 16,000
Debtors 5 93,706 103,176
Cash at bank and in hand 20,399 24,522
147,605 143,698
Creditors: amounts falling due within one year 6 ( 71,661) ( 63,941)
Net current assets 75,944 79,757
Total assets less current liabilities 77,596 81,960
Creditors: amounts falling due after more than one year 7 ( 24,754) ( 29,658)
Net assets 52,842 52,302
Capital and reserves
Called-up share capital 100 100
Profit and loss account 52,742 52,202
Total shareholders' funds 52,842 52,302

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Ace Safes (UK) Ltd (registered number: 09378499) were approved and authorised for issue by the Director on 13 November 2024. They were signed on its behalf by:

C D Hookey
Director
ACE SAFES (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ACE SAFES (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ace Safes (UK) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 1,089 12,375 4,473 17,937
At 31 March 2024 1,089 12,375 4,473 17,937
Accumulated depreciation
At 01 April 2023 913 11,136 3,685 15,734
Charge for the financial year 44 310 197 551
At 31 March 2024 957 11,446 3,882 16,285
Net book value
At 31 March 2024 132 929 591 1,652
At 31 March 2023 176 1,239 788 2,203

4. Stocks

2024 2023
£ £
Stocks 33,500 16,000

5. Debtors

2024 2023
£ £
Trade debtors 24,012 29,582
Other debtors 69,694 73,594
93,706 103,176

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 45,300 37,026
Taxation and social security 13,562 17,762
Other creditors 12,799 9,153
71,661 63,941

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 24,754 29,658

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Shareholders loan 54,555 58,459

Interest has been charged at the HMRC rate of 2.25%