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REGISTERED NUMBER: 08014664 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

ACE DIRECT LTD

ACE DIRECT LTD (REGISTERED NUMBER: 08014664)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACE DIRECT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: M Hussain
Mrs R Jan





REGISTERED OFFICE: 245 Entwistle Rd
Rochdale
Lancashire
OL16 2LJ





REGISTERED NUMBER: 08014664 (England and Wales)





ACCOUNTANTS: Wyatt Morris Golland Ltd
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

ACE DIRECT LTD (REGISTERED NUMBER: 08014664)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 615 884
615 884

CURRENT ASSETS
Stocks 6,000 5,000
Debtors 6 123,308 111,025
Cash at bank 968,655 824,904
1,097,963 940,929
CREDITORS
Amounts falling due within one year 7 859,387 787,754
NET CURRENT ASSETS 238,576 153,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

239,191

154,059

PROVISIONS FOR LIABILITIES 117 168
NET ASSETS 239,074 153,891

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 238,974 153,791
SHAREHOLDERS' FUNDS 239,074 153,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

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 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





M Hussain - Director


ACE DIRECT LTD (REGISTERED NUMBER: 08014664)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Ace Direct Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

ACE DIRECT LTD (REGISTERED NUMBER: 08014664)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 100,000
AMORTISATION
At 1 May 2023
and 30 April 2024 100,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 2,482 2,028 4,510
DEPRECIATION
At 1 May 2023 2,208 1,418 3,626
Charge for year 68 201 269
At 30 April 2024 2,276 1,619 3,895
NET BOOK VALUE
At 30 April 2024 206 409 615
At 30 April 2023 274 610 884

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,953 64,776
VAT 41,355 46,249
123,308 111,025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 26,271 26,271
Trade creditors 89,232 70,357
Corporation tax 25,689 15,465
Social security and other taxes 3 3
Other creditors 22,121 22,121
Directors' current accounts 655,590 608,351
Accrued expenses 40,481 45,186
859,387 787,754

8. RELATED PARTY DISCLOSURES

Interest is charged on amounts included in the directors loan accounts and amounted to £37,000 in the year. M Hussain and R Jan are directors and shareholders of the company.

ACE DIRECT LTD (REGISTERED NUMBER: 08014664)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. ULTIMATE CONTROLLING PARTY

The controlling party is M Hussain.