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Registered number: 10379424
AAC Projects Limited
Financial Statements
For The Year Ended 31 July 2024
ISA Consortium Ltd
206 New Road
Croxley Green
WD3 3HH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10379424
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 44,150 66,225
Tangible Assets 5 930 1,859
Investments 6 1,002 1,002
46,082 69,086
CURRENT ASSETS
Stocks 7 4,750 4,750
Debtors 8 165,284 165,284
Cash at bank and in hand 9,348 1,871
179,382 171,905
Creditors: Amounts Falling Due Within One Year 9 (211,998 ) (226,917 )
NET CURRENT ASSETS (LIABILITIES) (32,616 ) (55,012 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,466 14,074
NET ASSETS 13,466 14,074
CAPITAL AND RESERVES
Called up share capital 10 10,500 10,500
Profit and Loss Account 2,966 3,574
SHAREHOLDERS' FUNDS 13,466 14,074
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Michelle SMITH
Director
22/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AAC Projects Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10379424 . The registered office is Office 16, 206 New Road, Croxley Green, Rickmansworth, WD3 3HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
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.
Computer software is being amortised evenly over its estimated useful life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on cost
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 2)
- 2
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Page 4
4. Intangible Assets
Goodwill Other Intangible Assets Total
£ £ £
Cost
As at 1 August 2023 20,750 200,000 220,750
As at 31 July 2024 20,750 200,000 220,750
Amortisation
As at 1 August 2023 14,525 140,000 154,525
Provided during the period 2,075 20,000 22,075
As at 31 July 2024 16,600 160,000 176,600
Net Book Value
As at 31 July 2024 4,150 40,000 44,150
As at 1 August 2023 6,225 60,000 66,225
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 August 2023 27,500
As at 31 July 2024 27,500
Depreciation
As at 1 August 2023 25,641
Provided during the period 929
As at 31 July 2024 26,570
Net Book Value
As at 31 July 2024 930
As at 1 August 2023 1,859
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Page 5
6. Investments
Unlisted
£
Cost
As at 1 August 2023 1,002
As at 31 July 2024 1,002
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 1,002
As at 1 August 2023 1,002
7. Stocks
2024 2023
£ £
Finished goods 4,750 4,750
8. Debtors
2024 2023
£ £
Due within one year
Other debtors 165,284 165,284
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2 1
Amounts owed to group undertakings 210,991 225,911
Other creditors 1,002 1,002
Taxation and social security 3 3
211,998 226,917
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,500 10,500
Page 5