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REGISTERED NUMBER: 06013520 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Ace Properties (NE) Limited

Ace Properties (NE) Limited (Registered number: 06013520)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ace Properties (NE) Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: A Haynes
Mrs C Clarke
C Clarke





REGISTERED OFFICE: Unit 5
Wagonway Road Industrial Estate
Wagonway Road
Hebburn
Tyne and Wear
NE31 1SP





REGISTERED NUMBER: 06013520 (England and Wales)





ACCOUNTANTS: Inspire Chartered Accountants
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

Ace Properties (NE) Limited (Registered number: 06013520)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 855,772 855,628

CURRENT ASSETS
Debtors 6 23,795 26,274
Cash at bank and in hand 100,590 66,504
124,385 92,778
CREDITORS
Amounts falling due within one year 7 859,041 856,576
NET CURRENT LIABILITIES (734,656 ) (763,798 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,116

91,830

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 121,016 91,730
SHAREHOLDERS' FUNDS 121,116 91,830

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.

Ace Properties (NE) Limited (Registered number: 06013520)

Balance Sheet - continued
30 April 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 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 18 November 2024 and were signed on its behalf by:





Mrs C Clarke - Director


Ace Properties (NE) Limited (Registered number: 06013520)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Ace Properties (NE) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Ace Properties (NE) Limited (Registered number: 06013520)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 855,628
Additions 144
At 30 April 2024 855,772
NET BOOK VALUE
At 30 April 2024 855,772
At 30 April 2023 855,628

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 23,795 26,274

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Amounts owed to group undertakings 819,139 850,292
Taxation and social security 8,012 4,249
Other creditors 31,890 2,035
859,041 856,576

8. RELATED PARTY DISCLOSURES

Included in creditors is an amount of £819,139 (2023:£850,292) owed to A H Engineering (North East) Limited, the parent company.

9. ULTIMATE CONTROLLING PARTY

The controlling party is AH Engineering (North East) Limited.