2 false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03805860 2023-07-01 2024-06-30 03805860 2024-06-30 03805860 2023-06-30 03805860 2022-07-01 2023-06-30 03805860 2023-06-30 03805860 2022-06-30 03805860 core:PlantMachinery 2023-07-01 2024-06-30 03805860 core:FurnitureFittings 2023-07-01 2024-06-30 03805860 core:MotorVehicles 2023-07-01 2024-06-30 03805860 bus:Director1 2023-07-01 2024-06-30 03805860 core:PlantMachinery 2023-06-30 03805860 core:FurnitureFittings 2023-06-30 03805860 core:MotorVehicles 2023-06-30 03805860 core:PlantMachinery 2024-06-30 03805860 core:FurnitureFittings 2024-06-30 03805860 core:MotorVehicles 2024-06-30 03805860 core:WithinOneYear 2024-06-30 03805860 core:WithinOneYear 2023-06-30 03805860 core:ShareCapital 2024-06-30 03805860 core:ShareCapital 2023-06-30 03805860 core:RetainedEarningsAccumulatedLosses 2024-06-30 03805860 core:RetainedEarningsAccumulatedLosses 2023-06-30 03805860 core:PlantMachinery 2023-06-30 03805860 core:FurnitureFittings 2023-06-30 03805860 core:MotorVehicles 2023-06-30 03805860 bus:Director1 2023-06-30 03805860 bus:Director1 2024-06-30 03805860 bus:Director1 2022-06-30 03805860 bus:Director1 2023-06-30 03805860 bus:Director1 2022-07-01 2023-06-30 03805860 bus:SmallEntities 2023-07-01 2024-06-30 03805860 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03805860 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03805860 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03805860 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 03805860
Ace of Spades Contractors Ltd
Filleted Unaudited Financial Statements
30 June 2024
Ace of Spades Contractors Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
34,530
45,065
Current assets
Stocks
350
300
Debtors
6
116,167
124,136
Cash at bank and in hand
34,726
44,455
---------
---------
151,243
168,891
Creditors: amounts falling due within one year
7
127,656
156,380
---------
---------
Net current assets
23,587
12,511
--------
--------
Total assets less current liabilities
58,117
57,576
--------
--------
Net assets
58,117
57,576
--------
--------
Capital and reserves
Called up share capital
7
7
Profit and loss account
58,110
57,569
--------
--------
Shareholders funds
58,117
57,576
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ace of Spades Contractors Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 14 March 2025 , and are signed on behalf of the board by:
L G Jones Esq
Director
Company registration number: 03805860
Ace of Spades Contractors Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 44 Stoke Road, Gosport, Hampshire, PO12 1JQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25 % reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 July 2023
2,765
8,485
87,746
1,156
100,152
Additions
976
976
-------
-------
--------
-------
---------
At 30 June 2024
2,765
8,485
87,746
2,132
101,128
-------
-------
--------
-------
---------
Depreciation
At 1 July 2023
2,027
7,300
44,977
783
55,087
Charge for the year
429
233
10,692
157
11,511
-------
-------
--------
-------
---------
At 30 June 2024
2,456
7,533
55,669
940
66,598
-------
-------
--------
-------
---------
Carrying amount
At 30 June 2024
309
952
32,077
1,192
34,530
-------
-------
--------
-------
---------
At 30 June 2023
738
1,185
42,769
373
45,065
-------
-------
--------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
13,050
57,019
Other debtors
103,117
67,117
---------
---------
116,167
124,136
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,026
17,427
Corporation tax
25,040
21,945
Social security and other taxes
42,985
51,835
Other creditors
51,605
65,173
---------
---------
127,656
156,380
---------
---------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
L G Jones Esq
( 61,567)
12,530
( 49,037)
--------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
L G Jones Esq
( 45,966)
( 15,601)
( 61,567)
--------
--------
--------
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
Ace of Spades Holdings Limited
36,000
5,148
103,117
67,117
--------
-------
---------
--------
L Jones Esq and Mrs A Jones are the managing directors of Ace of Spades Holdings Limited and each own fifty per cent of the issued share capital.