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Registration number: 05235115

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

Company Information

Directors

Mr L Gabriel

Mr G Brown

Mr T Moore

Company secretary

Mr L Gabriel

Registered office

Unit 12 Salamanca Drive
Long Stratton
Norfolk
NR15 2PF

Accountants

Perk Accounting Limited Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

 

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr L Gabriel - Company secretary and director

Mr G Brown

Mr T Moore

Principal activity

The principal activity of the company is that of other building completion and finishing.

Statement of Directors’ Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 20 May 2025 and signed on its behalf by:
 

.........................................
Mr L Gabriel
Company secretary and director

 

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

(Registration number: 05235115)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,162

13,412

Current assets

 

Stocks

5

5,000

3,000

Debtors

6

7,422

25,181

Cash at bank and in hand

 

64,615

63,948

 

77,037

92,129

Creditors: Amounts falling due within one year

7

(78,850)

(47,189)

Net current (liabilities)/assets

 

(1,813)

44,940

Total assets less current liabilities

 

17,349

58,352

Provisions for liabilities

(4,367)

(2,788)

Net assets

 

12,982

55,564

Capital and reserves

 

Called up share capital

3

3

Retained earnings

12,979

55,561

Shareholders' funds

 

12,982

55,564

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

 

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

(Registration number: 05235115)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 20 May 2025 and signed on its behalf by:
 

.........................................
Mr L Gabriel
Company secretary and director

 

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 12 Salamanca Drive
Long Stratton
Norfolk
NR15 2PF

These financial statements were authorised for issue by the Board on 20 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% reducing balance

Furniture and fittings & equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

8,570

62,371

70,941

Additions

188

13,388

13,576

Disposals

-

(14,591)

(14,591)

At 30 September 2024

8,758

61,168

69,926

Depreciation

At 1 October 2023

7,799

49,730

57,529

Charge for the year

180

4,364

4,544

Eliminated on disposal

-

(11,309)

(11,309)

At 30 September 2024

7,979

42,785

50,764

Carrying amount

At 30 September 2024

779

18,383

19,162

At 30 September 2023

771

12,641

13,412

5

Stocks

2024
£

2023
£

Other inventories

5,000

3,000

 

Ace Garage Doors Uk Limited

trading as Ace Garage Doors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

6,583

3,334

Prepayments

839

827

Other debtors

-

21,020

 

7,422

25,181

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

36,450

18,874

Taxation and social security

32,117

26,766

Other creditors

10,283

1,549

78,850

47,189