Registered Number:04741464 |
For the year ended 30 April 2024
England and Wales
Unaudited Financial Statements
Ace Gas Ltd
Statement of Financial Position
2023
2024
Property, plant and equipment |
2,536,000
2,646,831
3
10
10
4
2,536,010
2,646,841
390,670
264,472
5
Trade and other receivables |
768,592
711,158
6
348,321
Cash and cash equivalents |
240,955
1,216,585
1,507,583
Trade and other payables: amounts falling due within one |
year |
(1,164,082)
(887,718)
7
343,501
328,867
Net current assets
Total assets less current liabilities |
2,864,877
2,990,342
Trade and other payables: amounts falling due after more |
than one year |
(926,468)
(707,001)
8
2,157,876
Net assets
2,063,874
4
4
2,157,872
2,063,870
2,157,876
2,063,874
Shareholders' funds
For the year ended 30 April 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 23 December 2024 and were signed by: |
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For the year ended 30 April 2024
Ace Gas Ltd
Statement of Financial Position Continued
The notes form part of these financial statements |
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For the year ended 30 April 2024
Ace Gas Ltd
Notes to the Financial Statements
Statutory Information
Ace Gas Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number |
04741464. |
Black Brook Way
Greetland
Halifax
HX4 8ED
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 5 years. |
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. |
Property, plant and equipment
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: |
Leasehold Property
Plant and machinery
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
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For the year ended 30 April 2024
Ace Gas Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets |
Goodwill
31,801
31,801
31,801
31,801
-
-
3. Property, plant and equipment |
Motor vehicles
3,445,480
256,906
829,704
2,358,870
15,569
-
15,569
-
-
(4,000)
-
(4,000)
2,358,870
841,273
256,906
3,457,049
Provision for depreciation and impairment |
798,649
191,011
523,422
84,216
Charge for year
122,400
16,800
63,600
42,000
921,049
207,811
587,022
126,216
2,232,654
254,251
49,095
2,536,000
2,274,654
306,282
65,895
2,646,831
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For the year ended 30 April 2024
Ace Gas Ltd
Notes to the Financial Statements Continued
4. Investments held as fixed assets |
Shares in group and participating interests |
10
10
10
10
10
10
10
10
2023
2024
264,472
390,670
6. Trade and other receivables |
2023
2024
142,867
269,515
Amounts owed by group undertakings and participating interests |
100,000
-
Prepayments and accrued income |
80,856
78,767
Taxation and social security |
-
67,345
387,435
352,965
768,592
711,158
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For the year ended 30 April 2024
Ace Gas Ltd
Notes to the Financial Statements Continued
7. Trade and other payables: amounts falling due within one year |
2023
2024
125,000
125,000
455,057
710,987
Taxation and social security |
76,624
62,743
105,000
105,000
Accruals and deferred income |
27,656
15,611
98,381
134,860
Obligations under HP/Financial leases |
-
9,881
887,718
1,164,082
8. Trade and other payables: amounts falling due after more than one year |
2023
2024
44,898
171,892
662,103
754,576
707,001
926,468
9. Average number of persons employed |
During the year the average number of employees was 18 (2023 : 16)
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