Registered number
09236838
Acer Consultancy Services Ltd
Filleted Accounts
For the year ended 30 September 2024
ASVSH Accountancy Services Limited
Chartered Certified Accountants
Acer Consultancy Services Ltd
Registered number: 09236838
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 25,500 133,109
Cash at bank and in hand 387,741 144,970
413,241 278,079
Creditors: amounts falling due within one year 4 (168,192) (63,017)
Net current assets 245,049 215,062
Total assets less current liabilities 245,049 215,062
Creditors: amounts falling due after more than one year 5 (60,502) (67,474)
Net assets 184,547 147,588
Capital and reserves
Called up share capital 100 100
Profit and loss account 184,447 147,488
Shareholder's funds 184,547 147,588
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Arvind Kohli
Director
Approved by the board on 24 December 2024
Acer Consultancy Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 2
3 Debtors 2024 2023
£ £
Other debtors 25,500 133,109
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,164 7,592
Corporation tax 36,094 27,425
Other creditors 126,934 28,000
168,192 63,017
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,502 17,474
Subordinated loans 50,000 50,000
60,502 67,474
6 Other information
Acer Consultancy Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
46 Camden Road
London
NW1 9DR
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