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Registration number: 11046831

Ace Vehicle Deliveries Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Ace Vehicle Deliveries Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Ace Vehicle Deliveries Limited

Company Information





 

Director




 

Mrs Angela Gallagher

Registered office





 

48 Bridgewater Gardens
Edgware
Middlesex
HA8 6AW

 

Ace Vehicle Deliveries Limited

Director's Report
for the Year Ended 30 April 2024

The director presents her report and the financial statements for the year ended 30 April 2024.

Director of the company

The director who held office during the year was as follows:

Mrs Angela Gallagher

Principal activity

The principal activity of the company is that of vehicle delivery.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 31 January 2025
 

.........................................
Mrs Angela Gallagher
Director

 

Ace Vehicle Deliveries Limited

(Registration number: 11046831 )
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

63,607

68,150

Current assets

 

Stocks

5

7,709

7,897

Debtors

6

130,874

134,318

Cash at bank and in hand

 

40,665

43,109

 

179,248

185,324

Creditors: Amounts falling due within one year

7

(229,752)

(242,065)

Net current liabilities

 

(50,504)

(56,741)

Net assets

 

13,103

11,409

Capital and reserves

 

Called up share capital

8

60

60

Retained earnings

13,043

11,349

Shareholders' funds

 

13,103

11,409

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 January 2025
 

 

Ace Vehicle Deliveries Limited

(Registration number: 11046831 )
Balance Sheet as at 30 April 2024

.........................................
Mrs Angela Gallagher
Director

 

Ace Vehicle Deliveries Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 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:
48 Bridgewater Gardens
Edgware
Middlesex
HA8 6AW
United Kingdom

These financial statements were authorised for issue by the director on 31 January 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Ace Vehicle Deliveries Limited

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

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

write off over 20 years

Stocks

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 6).

 

Ace Vehicle Deliveries Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

90,865

90,865

At 30 April 2024

90,865

90,865

Amortisation

At 1 May 2023

22,715

22,715

Amortisation charge

4,543

4,543

At 30 April 2024

27,258

27,258

Carrying amount

At 30 April 2024

63,607

63,607

At 30 April 2023

68,150

68,150

5

Stocks

2024
£

2023
£

Work in progress

7,709

7,897

6

Debtors

Current

2024
£

2023
£

Trade debtors

121,498

119,181

Prepayments

9,376

15,137

 

130,874

134,318

 

Ace Vehicle Deliveries Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

34,825

56,044

Taxation and social security

55,697

49,983

Accruals and deferred income

130,026

125,990

Other creditors

9,204

10,048

229,752

242,065

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

60

60

60

60