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REGISTERED NUMBER: 05745963 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ACE PROPERTY INVESTMENTS LIMITED

ACE PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACE PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: D L Hopkins
K N Jones





SECRETARY: Mrs D L Hopkins





REGISTERED OFFICE: 7 Y Graig
Pant
Merthyr Tydfil
CF48 3SS





REGISTERED NUMBER: 05745963 (England and Wales)





ACCOUNTANTS: Baker Knoyle Chartered Accountants
Orbit Business Centre
Merthyr Tydfil
CF48 1DL

ACE PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 95,801 -

CURRENT ASSETS
Debtors 5 82,435 39,911
Cash at bank and in hand 19,758 192,005
102,193 231,916
CREDITORS
Amounts falling due within one year 6 1,883 7,778
NET CURRENT ASSETS 100,310 224,138
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,111

224,138

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 196,109 224,136
196,111 224,138

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.

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 Income Statement has not been delivered.

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





K N Jones - Director


ACE PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)

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

1. STATUTORY INFORMATION

Ace Property Investments 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.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 95,801
At 29 February 2024 95,801
NET BOOK VALUE
At 29 February 2024 95,801

The director considers the valuation of the Investment Properties to be £Nil at the balance sheet date. The investment property Unit 15 was sold out during the year.

ACE PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 05745963)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 82,435 39,911

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 6,172
Other creditors 1,883 1,606
1,883 7,778

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
K N Jones
Balance outstanding at start of year 23,604 21,124
Amounts advanced 3,360 28,771
Amounts repaid (13,506 ) (26,291 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,458 23,604

D L Hopkins
Balance outstanding at start of year 13,291 -
Amounts advanced 27 25,291
Amounts repaid (13,506 ) (12,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (188 ) 13,291

8. RELATED PARTY DISCLOSURES

Contained within other debtors is a loan of £68,501 to Ace Building Contractors (Wales) Ltd (2023 - £2,500) no interest has been charged on this loan.