ACE ELECTRICAL AND ALARMS LTD
Report and Accounts
31 December 2024
Registered number
10933017
ACE ELECTRICAL AND ALARMS LTD
Registered number: 10933017
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 22,925 6,066
Current assets
Stocks 27,646 6,239
Debtors 4 69,198 50,762
Cash at bank and in hand 24,558 73,411
121,402 130,412
Creditors: amounts falling due within one year 5 (129,636) (114,253)
Net current (liabilities)/assets (8,234) 16,159
Total assets less current liabilities 14,691 22,225
Creditors: amounts falling due after more than one year 6 (4,907) -
Net assets 9,784 22,225
Capital and reserves
Called up share capital 19,908 19,908
Profit and loss account (10,124) 2,317
Shareholders' funds 9,784 22,225
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Wright
Director
Approved by the board on 27 February 2025
ACE ELECTRICAL AND ALARMS LTD
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 5 years straight line
Computer equipment 3 years straight line
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 1
3 Tangible fixed assets
Computer equipment Motor vehicles Total
£ £ £
Cost
At 1 January 2024 1,235 15,764 16,999
Additions 507 23,995 24,502
At 31 December 2024 1,742 39,759 41,501
Depreciation
At 1 January 2024 1,236 9,697 10,933
Charge for the year 127 7,516 7,643
At 31 December 2024 1,363 17,213 18,576
Net book value
At 31 December 2024 379 22,546 22,925
At 31 December 2023 (1) 6,067 6,066
4 Debtors 2024 2023
£ £
Trade debtors 59,034 45,397
Social security & other taxes 10,164 5,365
69,198 50,762
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 3,099 -
Trade creditors 64,454 67,130
Corporation tax 2,119 16,807
Other taxes and social security costs 40,931 11,150
Directors loans 16,013 17,571
Accruals 1,750 1,595
Other creditors 1,270 -
129,636 114,253
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 4,907 -
7 Other information
ACE ELECTRICAL AND ALARMS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Office 4
Clawthorpe Hall Business Centre
Carnforth
CUMBRIA
LA6 1NU
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