Company Registration No. 08963956 (England and Wales)
ACE GREENACRE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
Shenward (London) Limited
Formerly known as
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
ACE GREENACRE LTD
COMPANY INFORMATION
Directors
Mr N M Patel
Mr P M Patel
Company number
08963956
Registered office
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
Accountants
Shenward (London) Limited
Formerly known as
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
ACE GREENACRE LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 7
ACE GREENACRE LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ACE GREENACRE LTD FOR THE YEAR ENDED 30 JUNE 2024
- 1 -
The following reproduces text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited financial statements set out on pages 2 to 7 have been extracted.
"In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ace Greenacre Ltd for the year ended 30 June 2024 set out on pages 3 to 9 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.
Our work has been undertaken solely to prepare for your approval the financial statements of Ace Greenacre Ltd and state those matters that we have agreed to state to the Board of Directors of Ace Greenacre Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ace Greenacre Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Ace Greenacre Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ace Greenacre Ltd. You consider that Ace Greenacre Ltd 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 financial statements of Ace Greenacre Ltd. 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 financial statements.
Shenward (London) Limited
Formerly known as
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
"
23 June 2025
ACE GREENACRE LTD
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1
1
Tangible assets
4
1
1
2
2
Current assets
Stocks
39,059
43,399
Debtors
5
82,865
108,771
Cash at bank and in hand
30,891
46,232
152,815
198,402
Creditors: amounts falling due within one year
6
(86,947)
(116,907)
Net current assets
65,868
81,495
Net assets
65,870
81,497
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
8
65,869
81,496
Total equity
65,870
81,497
The directors of the company have taken advantage under section 444 of the Companies Act 2006 not to deliver the profit and loss account and the directors' report within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements are approved by the board of directors and authorised for issue on 19 June 2025 and are signed on its behalf by:
Mr P M Patel
Director
Company Registration No. 08963956
ACE GREENACRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Ace Greenacre Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Kirkland House, 11-15 Peterborough Road, Harrow, Middlesex, HA1 2AX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for goods dispensed, sales of pharmaceutical and perfumery products net of VAT and trade discounts.
1.4
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economuc life at 10% on a straight line basis.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on a straight line basis
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.7
Financial instruments
Basic financial assets
Basic financial assets, which include trade and sundry debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
ACE GREENACRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including trade and sundry creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost, using the effective interest rate method less any impairment.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.10
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.11
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
ACE GREENACRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
7
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
1
Amortisation and impairment
At 1 July 2023 and 30 June 2024
Carrying amount
At 30 June 2024
1
At 30 June 2023
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 and 30 June 2024
285
Depreciation and impairment
At 1 July 2023 and 30 June 2024
284
Carrying amount
At 30 June 2024
1
At 30 June 2023
1
ACE GREENACRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
18,656
28,411
Corporation tax recoverable
1,829
1,829
Amounts owed by group undertakings
39,617
Other debtors
11,912
28,020
Prepayments and accrued income
32,267
10,894
64,664
108,771
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
18,201
Total debtors
82,865
108,771
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
68,105
83,472
Corporation tax
1,829
Other taxation and social security
1,178
949
Other creditors
17,664
30,657
86,947
116,907
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
8
Reserves
The movements in profit and loss reserves for the year ended 30 June 2024 and year ended 30 June 2023 is loss for the year.
ACE GREENACRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Total Rent Payable
25,000
25,000
10
Parent company
The company's ultimate parent undertaking at the balance sheet date was Manson Chemist Limited, a company registered in England and Wales.
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