Registered number
11308805
Acemart London Ltd
Filleted Accounts
30 April 2024
Acemart London Ltd
Registered number: 11308805
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,069,838 1,072,690
Current assets
Stocks - 94,659
Debtors 4 1,645 1,937
Cash at bank and in hand 29,333 202,016
30,978 298,612
Creditors: amounts falling due within one year 5 (61,737) (336,236)
Net current liabilities (30,759) (37,624)
Net assets 1,039,079 1,035,066
Capital and reserves
Called up share capital 200 200
Profit and loss account 1,038,879 1,034,866
Shareholders' funds 1,039,079 1,035,066
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Anthony Bejan Fotouhi
Director
Approved by the board on 15 January 2025
Acemart London Ltd
Notes to the Accounts
for the year ended 30 April 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and fixtures 25% Reducing balance
Freehold Property Nil
Investment property is included in the balance sheet at open market value at the balance sheet date on the basis of an annual valuation by the director. Aggregate surplus of deficits on valuation are transferred to a revaluation reserve. Impairment in value of properties to below their carrying values are charged directly to the profit and loss account. Although this policy is in accordance with applicable accounting standard, but it is departure from requirement of the companies act 2006 for all tangible assets to be depreciated. This accounting policy is necessary for the accounts to give true and fair view
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 1,055,740 39,873 1,095,613
Additions - 1,847 1,847
At 30 April 2024 1,055,740 41,720 1,097,460
Depreciation
At 1 May 2023 - 22,923 22,923
Charge for the year - 4,699 4,699
At 30 April 2024 - 27,622 27,622
Net book value
At 30 April 2024 1,055,740 14,098 1,069,838
At 30 April 2023 1,055,740 16,950 1,072,690
The property is shown at the market value and at balance sheet date cost and market value is
same as per directors valuation.
4 Debtors 2024 2023
£ £
Trade debtors 10 -
Other debtors 1,635 1,937
1,645 1,937
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 1,589 6,375
Trade creditors - 3,176
Director's Account Anthony 3,396 2,473
Director's Account Christopher 3,000 2,000
Taxation and social security costs 1,591 56,052
Director's Loan 1 - 110,000
Director's Loan 2 24,400 129,400
Shareholders account 3,060 2,060
Other creditors 24,701 24,700
61,737 336,236
6 Contingent liabilities
The directors confirm that there were no contingent liabilities that needs to be disclosed.
7 Related party transactions
The director's loan account balance at the year end is nil (2023 £110,000) and the other £24,400 (2023: £129,400) CR. This loan is interest free and repayable on demand.

The 1st director curent account balance at the year end was £3,396 (2023 £2,473) and the 2nd direcor £3,000 (2023 £2,000) while the 3rd director account balance is £1,530 (2023 £1,030) these account have always remained in credit. Account for the 4th shareholder is also in credit by £1,530 (2023 £1,030).

During the year one of the car was sold for £16,000 to the director. The transaction was at arms length and market value.

All the trasactions are at arms length and at market value.
8 Other information
Acemart London Ltd is a private company limited by shares and incorporated in England. Its registered office is:
29-31 Stafford Road
Croydon
London
CR0 4NG
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