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REGISTERED NUMBER: 04129051 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ACER ENGINEERING (BEDFORD) LIMITED

ACER ENGINEERING (BEDFORD) LIMITED (REGISTERED NUMBER: 04129051)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACER ENGINEERING (BEDFORD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: D R Munns
W Allen





SECRETARY: D C Heath





REGISTERED OFFICE: 5 Goldington Road
Bedford
Bedfordshire
MK40 3JY





REGISTERED NUMBER: 04129051 (England and Wales)





ACCOUNTANTS: Rawlinson Pryde & Partners
Chartered Certified Accountants
Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY

ACER ENGINEERING (BEDFORD) LIMITED (REGISTERED NUMBER: 04129051)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 756 859

CURRENT ASSETS
Stocks 5 3,662 -
Debtors 6 129,521 275,567
Prepayments and accrued income 7,282 6,829
Cash at bank and in hand 14,733 76,256
155,198 358,652
CREDITORS
Amounts falling due within one year 7 136,728 234,707
NET CURRENT ASSETS 18,470 123,945
TOTAL ASSETS LESS CURRENT LIABILITIES 19,226 124,804

ACCRUALS AND DEFERRED INCOME 18,230 19,461
NET ASSETS 996 105,343

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 896 105,243
SHAREHOLDERS' FUNDS 996 105,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ACER ENGINEERING (BEDFORD) LIMITED (REGISTERED NUMBER: 04129051)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:




D R Munns - Director



W Allen - Director


ACER ENGINEERING (BEDFORD) LIMITED (REGISTERED NUMBER: 04129051)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Acer Engineering (Bedford) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods, work done and accrued income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress
The company has applied UITF Abstract 40 with effect from year ended 28 February 2006, effecting a change to the accounting policy for work in progress:

Revenue is recognised over time as activities progress to reflect the company's performance of its contractual obligations. The amount of revenue reflects the accrual - and is recognised as accrued income - of the right to consideration as contract activity progresses by reference to the value of the work performed.

Where it remains, work in progress is stated at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Provision is made for any foreseeable losses where applicable.

Accrued income
Accrued income is calculated by reference to individual jobs, and for each job represents all direct costs, and the relevant proportion of fixed and variable overheads, and estimated gross profit.

ACER ENGINEERING (BEDFORD) LIMITED (REGISTERED NUMBER: 04129051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets or financial liabilities.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss in other administrative expenses.

Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

Creditors and provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably measured. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Loans and borrowings are initially recognised at the transaction price including costs. Subsequently, they are measured at amortised cost using the effective interest method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. The present value of a financial asset or financial liability that is repayable on demand is equal to the undiscounted cash amount expect to be pair or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Operating lease rentals are charged to the profit and loss account in equal amounts over the lease term.

Pension costs and other post-retirement benefits
The company operates a money purchase pension schemes for the benefit of the directors. Contributions payable for the year are charged in the profit and loss account.

ACER ENGINEERING (BEDFORD) LIMITED (REGISTERED NUMBER: 04129051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Accrued income
Accrued income is calculated by reference to individual jobs, and for each job represents all direct costs, and the relevant proportion of fixed and variable overheads, and estimated gross profit.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023
and 29 February 2024 1,907 4,626 22,350 4,896 33,779
DEPRECIATION
At 1 March 2023 1,048 4,626 22,350 4,896 32,920
Charge for year 103 - - - 103
At 29 February 2024 1,151 4,626 22,350 4,896 33,023
NET BOOK VALUE
At 29 February 2024 756 - - - 756
At 28 February 2023 859 - - - 859

5. STOCKS
29.2.24 28.2.23
£    £   
Stocks 3,662 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 127,997 252,059
Accrued income - 23,508
Amounts owed by group undertakings 1,025 -
Deferred tax asset 499 -
129,521 275,567

ACER ENGINEERING (BEDFORD) LIMITED (REGISTERED NUMBER: 04129051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 65,630 79,007
Amounts owed to group undertakings 31,637 65,310
Tax - 34,766
Social security and other taxes 5,069 5,799
VAT 20,435 33,047
Other creditors 13,957 16,778
136,728 234,707

8. SECURED DEBTS

The bank facility is secured to HSBC plc in respect of all the company's liabilities due to them. This security includes, but is not limited to, the security noted below:

Debenture including Fixed Equitable Charge, dated 5 March 2001, over all present and future freehold and leasehold property; First Fixed Charge over, among other things, book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future to be given by Acer Engineering (Bedford) Limited.

9. OTHER FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £62,292 (2023: £94,792).