1 July 2023 false No description of principal activity Taxfiler 2024.6 03696676business:PrivateLimitedCompanyLtd2023-07-012024-06-30 036966762023-06-30 036966762023-07-012024-06-30 03696676business:AuditExempt-NoAccountantsReport2023-07-012024-06-30 03696676business:FilletedAccounts2023-07-012024-06-30 036966762024-06-30 03696676business:Director12023-07-012024-06-30 03696676business:Director22023-07-012024-06-30 03696676business:Director32023-07-012024-06-30 03696676business:CompanySecretary12023-07-012024-06-30 03696676business:RegisteredOffice2023-07-012024-06-30 036966762023-06-30 03696676core:WithinOneYear2024-06-30 03696676core:WithinOneYear2023-06-30 03696676core:AfterOneYear2024-06-30 03696676core:AfterOneYear2023-06-30 03696676core:ShareCapitalcore:PreviouslyStatedAmount2024-06-30 03696676core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 03696676core:SharePremiumcore:PreviouslyStatedAmount2024-06-30 03696676core:SharePremiumcore:PreviouslyStatedAmount2023-06-30 03696676core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-06-30 03696676core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 03696676core:PreviouslyStatedAmount2024-06-30 03696676core:PreviouslyStatedAmount2023-06-30 03696676business:SmallEntities2023-07-012024-06-30 03696676countries:EnglandWales2023-07-012024-06-30 03696676core:LandBuildings2023-07-012024-06-30 03696676core:PlantMachinery2023-07-012024-06-30 03696676core:MotorVehicles2023-07-012024-06-30 03696676core:FurnitureFittings2023-07-012024-06-30 03696676core:ComputerEquipment2023-07-012024-06-30 03696676core:LandBuildings2023-06-30 03696676core:PlantMachinery2023-06-30 03696676core:MotorVehicles2023-06-30 03696676core:FurnitureFittings2023-06-30 03696676core:ComputerEquipment2023-06-30 03696676core:LandBuildings2024-06-30 03696676core:PlantMachinery2024-06-30 03696676core:MotorVehicles2024-06-30 03696676core:FurnitureFittings2024-06-30 03696676core:ComputerEquipment2024-06-30 03696676core:AdditionsToInvestments2024-06-30 03696676business:OrdinaryShareClass12023-07-012024-06-30 03696676business:OrdinaryShareClass12022-07-012023-06-30 03696676business:OrdinaryShareClass22023-07-012024-06-30 03696676business:OrdinaryShareClass22022-07-012023-06-30 03696676business:OrdinaryShareClass32023-07-012024-06-30 03696676business:OrdinaryShareClass32022-07-012023-06-30 03696676business:AllOrdinaryShares2023-07-012024-06-30 03696676business:AllOrdinaryShares2022-07-012023-06-30 036966762022-07-012023-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 03696676 (England and Wales)
Ace Container Services Limited Unaudited accounts for the year ended 30 June 2024
Ace Container Services Limited Unaudited accounts Contents
Page
- 2 -
Ace Container Services Limited Company Information for the year ended 30 June 2024
Directors
Mitchell Kurt Brenner John Douglas Hanson Samual David Hanson
Secretary
John Douglas Hanson
Company Number
03696676 (England and Wales)
Registered Office
Haigh Park Road Leeds West Yorkshire LS10 1RT United Kingdom
- 3 -
Ace Container Services Limited Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
(27,225)
202,843 
Investments
2,059,832 
2,022,639 
2,032,607 
2,225,482 
Current assets
Inventories
694,649 
445,288 
Debtors
300,465 
490,776 
Cash at bank and in hand
18,325 
2,059 
1,013,439 
938,123 
Creditors: amounts falling due within one year
(1,093,828)
(2,920,311)
Net current liabilities
(80,389)
(1,982,188)
Total assets less current liabilities
1,952,218 
243,294 
Creditors: amounts falling due after more than one year
(1,948,722)
(165,483)
Provisions for liabilities
Deferred tax
- 
(50,524)
Net assets
3,496 
27,287 
Capital and reserves
Called up share capital
111 
111 
Share premium
1,617 
1,617 
Profit and loss account
1,768 
25,559 
Shareholders' funds
3,496 
27,287 
For the year ending 30 June 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by
John Douglas Hanson Director Company Registration No. 03696676
- 4 -
Ace Container Services Limited Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Ace Container Services Limited is a private company, limited by shares, registered in England and Wales, registration number 03696676. The registered office is Haigh Park Road, Leeds, West Yorkshire, LS10 1RT, United Kingdom.
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.
3
Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view. The financial statements have been prepared under the historical cost convention The financial statements are denominated in GBP.
Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Turnover from rents receivable is recognised on a straight line basis over the term of the lease.
Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment. Depreciation is provided on all tangible assets, at rates calculated to write off the cost less estimated residual value of each asset on a straight line basis over its expected useful life. Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.
Land & buildings
5% on reducing balance
Plant & machinery
15% on reducing balance and 5% on reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33% on cost
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
- 5 -
Ace Container Services Limited Notes to the Accounts for the year ended 30 June 2024
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Hire purchase and leasing commitments
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability. Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme and that of directors' personal pension schemes are charged to profit or loss in the period to which they relate.
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. All financial assets and liabilities are initially measured at at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value if the future payments discounted at a market rate of interest for a similar debt instrument. The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances. Trade debtors, other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances (being repayable on demand) are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received. Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently measured at amortised cost using the effective interest method.
- 6 -
Ace Container Services Limited Notes to the Accounts for the year ended 30 June 2024
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below. Non financial assets An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. Financial assets For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date. Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by shareholders at an Annual General Meeting.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 July 2023
26,871 
213,330 
26,860 
2,670 
14,613 
284,344 
Additions
- 
- 
- 
- 
3,537 
3,537 
Disposals
(22,447)
(213,330)
(19,960)
- 
- 
(255,737)
At 30 June 2024
4,424 
- 
6,900 
2,670 
18,150 
32,144 
Depreciation
At 1 July 2023
8,956 
- 
61,248 
1,127 
10,170 
81,501 
Charge for the year
(7,214)
- 
- 
391 
2,181 
(4,642)
On disposals
- 
- 
(17,490)
- 
- 
(17,490)
At 30 June 2024
1,742 
- 
43,758 
1,518 
12,351 
59,369 
Net book value
At 30 June 2024
2,682 
- 
(36,858)
1,152 
5,799 
(27,225)
At 30 June 2023
17,915 
213,330 
(34,388)
1,543 
4,443 
202,843 
5
Investments
Subsidiary undertakings 
Other investments 
Total 
£ 
£ 
£ 
Valuation at 1 July 2023
2,022,639 
- 
2,022,639 
Additions
- 
37,193 
37,193 
Valuation at 30 June 2024
2,022,639 
37,193 
2,059,832 
- 7 -
Ace Container Services Limited Notes to the Accounts for the year ended 30 June 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
134,988 
120,035 
Deferred tax asset
4,162 
Accrued income and prepayments
12,791 
- 
Other debtors
- 
370,741 
151,941 
490,776 
Amounts falling due after more than one year
Other debtors
148,524 
- 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
85,642 
- 
Trade creditors
903,619 
532,875 
Amounts owed to group undertakings and other participating interests
- 
1,493,232 
Taxes and social security
29,393 
181,637 
Other creditors
10,355 
712,567 
Accruals
56,489 
- 
Deferred income
8,330 
- 
1,093,828 
2,920,311 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
1,239,683 
- 
Other creditors
709,039 
165,483 
1,948,722 
165,483 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
89 Ordinary shares of £1 each
89 
89 
11 A Ordinary shares of £1 each
11 
11 
11 B Ordinary shares of £1 each
11 
11 
111 
111 
10
Loans to directors
At 30 June 2024 there were amounts due from directors of £133,336 (2023: £173,857).
11
Average number of employees
During the year the average number of employees was 10 (2023: 10).
- 8 -