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ACE & THRIVE LTD

Registered Number
14585304
(England and Wales)

Unaudited Financial Statements for the Period ended
31 January 2024

ACE & THRIVE LTD
Company Information
for the period from 11 January 2023 to 31 January 2024

Directors

ADEDOJA, Ajibola Rasheedat
ADEDOJA, Idriz

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

14585304 (England and Wales)
ACE & THRIVE LTD
Balance Sheet as at
31 January 2024

Notes

2024

£

£

Fixed assets
Tangible assets3696
696
Current assets
Debtors4161,114
Cash at bank and on hand169
161,283
Creditors amounts falling due within one year5(19,658)
Net current assets (liabilities)141,625
Total assets less current liabilities142,321
Creditors amounts falling due after one year(141,910)
Net assets411
Capital and reserves
Called up share capital100
Profit and loss account311
Shareholders' funds411
The financial statements were approved and authorised for issue by the Board of Directors on 10 October 2024, and are signed on its behalf by:
ADEDOJA, Ajibola Rasheedat
Director
ADEDOJA, Idriz
Director

Registered Company No. 14585304
ACE & THRIVE LTD
Notes to the Financial Statements
for the period ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
2.Average number of employees

2024
Average number of employees during the year2
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions835835
At 31 January 24835835
Depreciation and impairment
Charge for year139139
At 31 January 24139139
Net book value
At 31 January 24696696
At 10 January 23--
4.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables13,110
Other debtors143,902
Prepayments and accrued income4,102
Total161,114
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables726
Bank borrowings and overdrafts2,061
Taxation and social security9,860
Other creditors5,932
Accrued liabilities and deferred income1,079
Total19,658
6.Directors advances, credits and guarantees
At the year end, the amount due to Director Mr Idriz Adedoja was 2024 : £902 dr, which was paid back in March 2024.