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Registered Number: 11609619
England and Wales

 

 

 

THE ACE (CH) LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
Director Mr Andreas Charalambous
Registered Number 11609619
Registered Office 23 Discovery Close
Coalville
LE67 3AW
Accountants Marneros Marcus & Co Limited
First Floor Hagley Court
40 Vicarage Road Edgbaston
Birmingham
B153EZ
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 45,047    43,972 
45,047    43,972 
Current assets      
Debtors 4 154,015    29,393 
Cash at bank and in hand 103,573    133,747 
257,588    163,140 
Creditors: amount falling due within one year 5 (69,327)   (34,580)
Net current assets 188,261    128,560 
 
Total assets less current liabilities 233,308    172,532 
Creditors: amount falling due after more than one year 6 (39,580)   (53,015)
Net assets 193,728    119,517 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 193,628    119,417 
Shareholders' funds 193,728    119,517 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 21 July 2025 and were signed by:


-------------------------------
Mr Andreas Charalambous
Director
2
General Information
THE ACE (CH) LTD is a private company, limited by shares, registered in England and Wales, registration number 11609619, registration address 23 Discovery Close, Coalville, LE67 3AW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on the basis that the company is a going concern and that the directors will continue to support the company
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Straight Line
Fixtures and Fittings 10% Straight Line
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 November 2023 64,751    8,835    73,586 
Additions   16,565    16,565 
Disposals    
At 31 October 2024 64,751    25,400    90,151 
Depreciation
At 01 November 2023 27,364    2,250    29,614 
Charge for year 12,950    2,540    15,490 
On disposals    
At 31 October 2024 40,314    4,790    45,104 
Net book values
Closing balance as at 31 October 2024 24,437    20,610    45,047 
Opening balance as at 01 November 2023 37,387    6,585    43,972 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 154,015    29,393 
154,015    29,393 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 10,752    2,412 
Corporation Tax 28,442    23,483 
PAYE & Social Security 356    3 
Accrued Expenses   800 
Directors' Current Accounts 29,777    7,882 
69,327    34,580 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 8,992    13,492 
Obligations Under HP/Financial Leases 30,588    39,523 
39,580    53,015 

3