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REGISTERED NUMBER: 02050099 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Ace Property Restoration Limited

Ace Property Restoration Limited (Registered number: 02050099)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ace Property Restoration Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: C F Paynter
J A Paynter
A J Paynter
M G Paynter
G M Paynter





SECRETARY: C F Paynter





REGISTERED OFFICE: 21 Church Road
Parkstone
Poole
Dorset
BH14 8UF





REGISTERED NUMBER: 02050099 (England and Wales)





ACCOUNTANT: Richard Allen & Associates
21 Church Road
Parkstone
Poole
Dorset
BH14 8UF

Ace Property Restoration Limited (Registered number: 02050099)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,993 28,742

CURRENT ASSETS
Stocks 22,500 29,000
Debtors 5 2,255 3,533
Cash at bank 202,801 188,454
227,556 220,987
CREDITORS
Amounts falling due within one year 6 55,985 60,128
NET CURRENT ASSETS 171,571 160,859
TOTAL ASSETS LESS CURRENT
LIABILITIES

193,564

189,601

CREDITORS
Amounts falling due after more than one year 7 - 2,400
NET ASSETS 193,564 187,201

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 193,464 187,101
SHAREHOLDERS' FUNDS 193,564 187,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Ace Property Restoration Limited (Registered number: 02050099)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





M G Paynter - Director


Ace Property Restoration Limited (Registered number: 02050099)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Ace Property Restoration Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

Ace Property Restoration Limited (Registered number: 02050099)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 135,556
Additions 282
At 31 August 2024 135,838
DEPRECIATION
At 1 September 2023 106,814
Charge for year 7,031
At 31 August 2024 113,845
NET BOOK VALUE
At 31 August 2024 21,993
At 31 August 2023 28,742

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 934
Other debtors 2,255 2,599
2,255 3,533

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,400 3,600
Trade creditors 13,955 23,652
Taxation and social security 26,445 14,454
Other creditors 13,185 18,422
55,985 60,128

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2,400

8. CONTINGENT LIABILITIES

The Company had no contingent liabilities.


Ace Property Restoration Limited (Registered number: 02050099)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - -