ACE ELECTRICAL ENGINEERS LIMITED

Company Registration Number:
04702144 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

ACE ELECTRICAL ENGINEERS LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

ACE ELECTRICAL ENGINEERS LIMITED

Company Information

for the Period Ended 30 September 2024




Director: R M Bone
Mrs L M Bone
Registered office: 21
Grosvenor Gardens
West End
Southampton
England
SO30 3BP
Company Registration Number: 04702144 (England and Wales)

ACE ELECTRICAL ENGINEERS LIMITED

Balance sheet

As at 30 September 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 510 1,530
Tangible assets: 5 6,119 7,207
Total fixed assets: 6,629 8,737
Current assets
Stocks: 735 735
Cash at bank and in hand: 9,233 10,294
Total current assets: 9,968 11,029
Creditors: amounts falling due within one year: 6 ( 47,024 ) ( 46,254 )
Net current assets (liabilities): ( 37,056 ) ( 35,225 )
Total assets less current liabilities: ( 30,427 ) ( 26,488 )
Creditors: amounts falling due after more than one year: 7 ( 5,419 ) ( 10,084 )
Provision for liabilities: ( 1,163 ) ( 1,369 )
Total net assets (liabilities): ( 37,009 ) ( 37,941 )

The notes form part of these financial statements

ACE ELECTRICAL ENGINEERS LIMITED

Balance sheet continued

As at 30 September 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 1,002 1,002
Profit and loss account: ( 38,011 ) ( 38,943 )
Shareholders funds: ( 37,009 ) ( 37,941 )

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 11 November 2024
And Signed On Behalf Of The Board By:

Name: R M Bone
Status: Director

Name: Mrs L M Bone
Status: Director

The notes form part of these financial statements

ACE ELECTRICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the value of goods and services supplied in the year, excluding value added tax.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
    Plant and machinery - 15% on reducing balance
    Motor vehicles - 15% on reducing balance
    Fixtures and fittings - 10% on reducing balance
    Computer equipment - 33.3% reducing balance

    Intangible fixed assets amortisation policy

    Goodwill, being the amount paid in connection with the aquisition of the business in 2003, is being amortised evenly over its estimated useful life of twenty years.

    Other accounting policies

    Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly to 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. Hire purchase and leasing commitments Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Pension costs and other post-retirement benefits The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Going Concern These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.

ACE ELECTRICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 4 4

ACE ELECTRICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 3. Off balance sheet disclosure

    No

ACE ELECTRICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Intangible assets

Goodwill Total
Cost £ £
At 01 October 2023 20,400 20,400
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 30 September 2024 20,400 20,400
Amortisation
Amortisation at 01 October 2023 18,870 18,870
Charge for year 1,020 1,020
On disposals - -
Other adjustments - -
Amortisation at 30 September 2024 19,890 19,890
Net book value
Net book value at 30 September 2024 510 510
Net book value at 30 September 2023 1,530 1,530

ACE ELECTRICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Tangible assets

Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £
At 01 October 2023 13,893 25,129 19,862 16,330 75,214
Additions - - - - -
Disposals - - - - -
Revaluations - - - - -
Transfers - - - - -
At 30 September 2024 13,893 25,129 19,862 16,330 75,214
Depreciation
At 01 October 2023 12,422 23,842 18,985 12,758 68,007
Charge for year 175 129 248 536 1,088
On disposals - - - - -
Other adjustments - - - - -
At 30 September 2024 12,597 23,971 19,233 13,294 69,095
Net book value
At 30 September 2024 1,296 1,158 629 3,036 6,119
At 30 September 2023 1,471 1,287 877 3,572 7,207

ACE ELECTRICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

6.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 5,266 13,250
Trade creditors 4,867 1,552
Taxation and social security 8,298 7,937
Other creditors 28,593 23,515
Total 47,024 46,254

ACE ELECTRICAL ENGINEERS LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

7.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 5,419 10,084
Total 5,419 10,084