Company registration number: 09415063
Unaudited financial statements
for the year ended 31 January 2025
for
Ace Goods Co. Ltd
Pages for filing with the Registrar
Company registration number: 09415063
Ace Goods Co. Ltd
Balance sheet
as at 31 January 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 4 42,706 50,131
42,706 50,131
Current assets
Stocks 78,279 67,397
Debtors 365,266 354,702
Cash at bank and in hand 8,834 82,724
452,379 504,823
Creditors: amounts falling due within one
year
(155,740) (154,038)
Net current assets 296,639 350,785
Total assets less current liabilities 339,345 400,916
Creditors: Amounts falling due after more
than one year
(10,000) (40,000)
Provisions for liabilities (10,676) (12,533)
NET ASSETS 318,669 348,383
Capital and reserves
Called up share capital 200 200
Other reserves 100 100
Profit and loss account 318,369 348,083
TOTAL EQUITY 318,669 348,383
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 January 2025.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 09415063
Ace Goods Co. Ltd
Balance sheet - continued
as at 31 January 2025
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 23 February 2025 and signed on its behalf by:
Mr V Cristiano, Director Mr M Saunders, Director
23 February 2025 23 February 2025
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Ace Goods Co. Ltd
Notes to the financial statements
for the year ended 31 January 2025
1 Company information
Ace Goods Co. Ltd is a private company registered in England and Wales. Its registered number is 09415063. The company is limited by shares. Its registered office is 32 Hollytree Avenue, Swanley, BR8 7BD.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 33% straight line
Fixtures & fittings - 5% reducing balance
Motor vehicles - 20% reducing balance
Computer equipment - 33% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Ace Goods Co. Ltd
Notes to the financial statements - continued
for the year ended 31 January 2025
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3 Average number of employees
During the year the average number of employees was 4 (2024 - 4).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 February 2024 73,897
Additions 2,120
At 31 January 2025 76,017
Depreciation
At 1 February 2024 23,766
Charge for year 9,545
At 31 January 2025 33,311
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Ace Goods Co. Ltd
Notes to the financial statements - continued
for the year ended 31 January 2025
4 Tangible fixed assets - continued
Net book value
At 31 January 2025 42,706
At 31 January 2024 50,131
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