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Registered number: 12998225









ACER ASSET INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
ACER ASSET INVESTMENTS LIMITED
REGISTERED NUMBER: 12998225

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
2,161,991
1,623,052

Cash at bank and in hand
 5 
41,626
44,978

  
2,203,617
1,668,030

Creditors: amounts falling due within one year
 6 
(2,236,010)
(1,686,010)

Net current liabilities
  
 
 
(32,393)
 
 
(17,980)

Total assets less current liabilities
  
(32,393)
(17,980)

  

Net liabilities
  
(32,393)
(17,980)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(32,493)
(18,080)

  
(32,393)
(17,980)


Page 1

 
ACER ASSET INVESTMENTS LIMITED
REGISTERED NUMBER: 12998225
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 February 2025.




................................................
Keith Bailiff
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
ACER ASSET INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Acer Asset Investments Limited is a private company, incorporated in England and Wales, limited by its share capital. The Company's principal activity was that of property development.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts are prepared on a going concern basis, with the support of the directors pledged for the foreseeable future.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
ACER ASSET INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Stocks

2024
2023
£
£

Work in progress
2,161,991
1,623,052

2,161,991
1,623,052



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
41,626
44,978

41,626
44,978



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
2,159,900
-

Amounts owed to joint ventures
75,000
1,684,900

Accruals and deferred income
1,110
1,110

2,236,010
1,686,010



7.


Controlling party

There is no overall controlling party.

 
Page 4