Registered number
07282957
ACE Trading Enterprises Limited
Filleted Accounts
30 November 2024
ACE Trading Enterprises Limited
Registered number: 07282957
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 508 678
Investments 4 650,000 650,000
650,508 650,678
Current assets
Debtors 5 688 713
Cash at bank and in hand 8,878 19,467
9,566 20,180
Creditors: amounts falling due within one year 6 (440,471) (468,662)
Net current liabilities (430,905) (448,482)
Total assets less current liabilities 219,603 202,196
Provisions for liabilities (14,415) (14,415)
Net assets 205,188 187,781
Capital and reserves
Called up share capital 100 100
Profit and loss account 205,088 187,681
Shareholders' funds 205,188 187,781
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 directors' report and profit and loss account has not been delivered to the Registrar of Companies.
A Cerasi
Director
Approved by the board on 20 March 2025
ACE Trading Enterprises Limited
Notes to the Accounts
for the year ended 30 November 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 (as applied to small entities by section 1A of the standard).
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 rendering of services and is recognised in the financial statements in the period in which the services relate. Turnover is generated through the rental of residential living space in the investment property.
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, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Investments
The investments relate to property held for residential rental purposes. The director considers that the revalued cost stated is equivalent to the current fair value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax has been provided for on gains arising from the revaluation of investment property and is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 5,321
At 30 November 2024 5,321
Depreciation
At 1 December 2023 4,643
Charge for the year 170
At 30 November 2024 4,813
Net book value
At 30 November 2024 508
At 30 November 2023 678
4 Investments
Other
investments
£
Cost
At 1 December 2023 650,000
At 30 November 2024 650,000
5 Debtors 2024 2023
£ £
Trade debtors 250 250
Other debtors 438 463
688 713
6 Creditors: amounts falling due within one year 2024 2023
£ £
Directors loan account 431,000 460,000
Taxation and social security costs 4,123 3,507
Other creditors 5,348 5,155
440,471 468,662
7 Other information
ACE Trading Enterprises Limited is a private company limited by shares and incorporated in England. Its registered office is:
Central House
124 High Street
Hampton Hill
Middlesex
TW12 1NS
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