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Registration number: 11098538

2aces Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

2aces Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

2aces Limited

(Registration number: 11098538)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

14,020

9,973

Current assets

 

Debtors

7

2,790

574

Cash at bank and in hand

 

16,803

24,305

 

19,593

24,879

Creditors: Amounts falling due within one year

8

(16,344)

(17,712)

Net current assets

 

3,249

7,167

Total assets less current liabilities

 

17,269

17,140

Provisions for liabilities

(1,166)

(1,895)

Net assets

 

16,103

15,245

Capital and reserves

 

Called up share capital

10

10

Retained earnings

16,093

15,235

Shareholders' funds

 

16,103

15,245

 

2aces Limited

(Registration number: 11098538)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 

.........................................
A R P Laroche
Director

 

2aces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of information technology consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

2aces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Motor Vehicles

20% straight line

Building

5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for information technology consultancy services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

2aces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Taxation

2024

2023

£

£

Corporation tax

15,637

17,113

Deferred tax

(729)

(543)

14,908

16,570

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

5

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,120

4,137

6

Tangible assets

Land and buildings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

-

5,153

17,500

22,653

Additions

7,950

217

-

8,167

At 31 December 2024

7,950

5,370

17,500

30,820

Depreciation

At 1 January 2024

-

2,180

10,500

12,680

Charge for the year

66

554

3,500

4,120

At 31 December 2024

66

2,734

14,000

16,800

Carrying amount

At 31 December 2024

7,884

2,636

3,500

14,020

At 31 December 2023

-

2,973

7,000

9,973

Included within the net book value of land and buildings above is £7,884 (2023 - £Nil) in respect of freehold land and buildings.
 

 

2aces Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

Current

2024
£

2023
£

Prepayments

2,275

370

Other debtors

515

204

 

2,790

574

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

245

237

Taxation and social security

15,637

17,113

Other creditors

462

362

16,344

17,712

9

Related party transactions

Other transactions with directors

At the balance sheet date directors A Laroche and A Sakanoko-Laroche had a loan with the company totaling £462 (2023- £362).