Company Registration No. 11011199 (England and Wales)
Acme Commodities Limited
Unaudited accounts
for the year ended 31 October 2024
Acme Commodities Limited
Unaudited accounts
Contents
Acme Commodities Limited
Company Information
for the year ended 31 October 2024
Company Number
11011199 (England and Wales)
Registered Office
988 Bristol Road South
Northfield
Birmingham
B31 2PE
England
Acme Commodities Limited
Accountants' report
Accountants' report to the director of Acme Commodities Limited on the preparation of the unaudited statutory accounts for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Acme Commodities Limited for the year ended
31 October 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Acme Commodities Limited, as a body, in accordance with the terms of our engagement letter dated 1 April 2025. Our work has been undertaken solely to prepare for your approval the accounts of Acme Commodities Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Acme Commodities Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Acme Commodities Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Acme Commodities Limited. You consider that Acme Commodities Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Acme Commodities Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Acme Commodities Limited
Statement of financial position
as at 31 October 2024
Tangible assets
4,381
5,616
Inventories
579,960
126,305
Cash at bank and in hand
44,801
29,198
Creditors: amounts falling due within one year
(1,462,638)
(627,792)
Net current assets
514,025
268,064
Total assets less current liabilities
518,406
273,680
Creditors: amounts falling due after more than one year
(25,063)
(30,522)
Net assets
493,343
243,158
Called up share capital
1,000
1,000
Profit and loss account
492,343
242,158
Shareholders' funds
493,343
243,158
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 May 2025 and were signed on its behalf by
Priya Agarwal
Director
Company Registration No. 11011199
Acme Commodities Limited
Notes to the Accounts
for the year ended 31 October 2024
Acme Commodities Limited is a private company, limited by shares, registered in England and Wales, registration number 11011199. The registered office is 988 Bristol Road South, Northfield, Birmingham, B31 2PE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention and in accordance with Financial
Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic
of Ireland" and the Companies Act 2006.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
During the financial year, the business experienced currency exchange losses primarily arising from the fluctuations in foreign exchange rates. As the company is engaged in cross-border transactions—including the Import and Export: of goods and services—payments and receipts in foreign currencies exposed the business to exchange rate volatility.
These fluctuations have led to realised and unrealised losses, which have been recognised under other direct costs in accordance with applicable accounting standards.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
22% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Acme Commodities Limited
Notes to the Accounts
for the year ended 31 October 2024
4
Tangible fixed assets
Total
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director to Loan
(7,672)
41,800
19,791
14,337
(7,672)
41,800
19,791
14,337
The above loan is unsecured, interest free and repayable on demand.
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).