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Logo On Report
Registered Number: 14010542


 

 

 

ACE PILATES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts ACE Pilates Ltd for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ACE Pilates Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of ACE Pilates Ltd , as a body, in accordance with the terms of our engagement letter dated 29 November 2024. Our work has been undertaken solely to prepare for your approval the accounts of ACE Pilates Ltd and state those matters that we have agreed to state to the Board of Directors of ACE Pilates Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ACE Pilates Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ACE Pilates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit ACE Pilates Ltd. You consider that ACE Pilates Ltd is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of ACE Pilates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
T & K Accounting Group
T & K Accounting Group

69 Banstead Road
Carshalton
SM5 3NP
29 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 10,083    13,917 
Tangible fixed assets 4 255,096    284,389 
265,179    298,306 
Current assets      
Stocks 664   
Debtors 96,839    132,427 
Cash at bank and in hand 51,088    10,780 
148,591    143,207 
Creditors: amount falling due within one year (111,737)   (154,501)
Net current assets 36,854    (11,294)
 
Total assets less current liabilities 302,033    287,012 
Creditors: amount falling due after more than one year (324,946)   (338,117)
Net assets (22,913)   (51,105)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (23,013)   (51,205)
Shareholders' funds (22,913)   (51,105)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 November 2024 and were signed on its behalf by:


-------------------------------
Eller Lim
Director
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General Information
ACE Pilates Ltd is a private company, limited by shares, registered in , registration number 14010542, registration address Lower Ground Floor, 60-68 Pentonville road, islington, London, N1 9HS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible 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. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 10 years Straight Line
Plant and Machinery 15% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 0).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 April 2023 15,000    15,000 
Additions  
Disposals  
At 31 March 2024 15,000    15,000 
Amortisation
At 01 April 2023 1,083    1,083 
Charge for year 3,834    3,834 
On disposals  
At 31 March 2024 4,917    4,917 
Net book values
At 31 March 2024 10,083    10,083 
At 31 March 2023 13,917    13,917 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 April 2023   292,022    292,022 
Additions 7,656    14,126    21,782 
Disposals   (700)   (700)
At 31 March 2024 7,656    305,448    313,104 
Depreciation
At 01 April 2023   15,289    15,289 
Charge for year   42,796    42,796 
On disposals   (77)   (77)
At 31 March 2024   58,008    58,008 
Net book values
Closing balance as at 31 March 2024 7,656    247,440    255,096 
Opening balance as at 01 April 2023 7,656    276,733    284,389 


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