ACA ENGINEERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACA Engineers Limited ("the Company") is a Company limited by shares incorporated in England andWales. Its registered office is 1 - 5 Offord Street, London, England, N1 1DH.
The principal activity of the company during the period was that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Associates and Joint Ventures are held at cost less impairment.
The company receives income from a participating interest. This is accounted for when received.
The Company meets its day-to-day working capital requirements through careful management of working capital positions. The Company’s forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate without other third party support. After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been nacted or substantively enacted by the balance sheet date in the countries where the company perates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted company shares, whose market value can be reliably determined, are emeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. Where market value annot be reliably determined, such investments are stated at historic cost less impairment.
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