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REGISTERED NUMBER: 02014624 (England and Wales)















Ace Adhesives Limited

Financial Statements

for the Year Ended 31 December 2024






Ace Adhesives Limited (Registered number: 02014624)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ace Adhesives Limited

Company Information
for the year ended 31 December 2024







Directors: X Desimpel
P D Lee





Secretary: P D Lee





Registered office: Shenstone Drive
Northgate Aldridge
Walsall
West Midlands
WS9 8TP





Registered number: 02014624 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Ace Adhesives Limited (Registered number: 02014624)

Balance Sheet
31 December 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 464,857 375,869
Investments 5 469,648 469,648
934,505 845,517

Current assets
Stocks 885,937 842,695
Debtors 6 2,386,263 2,170,303
Cash at bank and in hand 545,917 289,400
3,818,117 3,302,398
Creditors
Amounts falling due within one year 7 1,609,930 1,153,695
Net current assets 2,208,187 2,148,703
Total assets less current liabilities 3,142,692 2,994,220

Creditors
Amounts falling due after more than one
year

8

110,661

150,000
Net assets 3,032,031 2,844,220

Capital and reserves
Called up share capital 11 5,625 5,625
Share premium 12 49,000 49,000
Capital redemption reserve 12 14,400 14,400
Retained earnings 12 2,963,006 2,775,195
Shareholders' funds 3,032,031 2,844,220

The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2025 and were signed on its behalf by:





P D Lee - Director


Ace Adhesives Limited (Registered number: 02014624)

Notes to the Financial Statements
for the year ended 31 December 2024


1. Statutory information

Ace Adhesives Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Significant judgements and estimates
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefit will flow to the company and the turnover can be reliably measured. Turnover is measured as their fair value of the consideration recieved or receivable, excluding discounts, rebates, valued added tax and other sales taxes.

Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of the ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the company will recieved the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measure reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost, less any provision for impairment.

Stocks
Stocks stated at the lower of cost, and estimated selling price less costs to complete and sell. Cost compromises 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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss.

Ace Adhesives Limited (Registered number: 02014624)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. Employees and directors

The average number of employees during the year was 22 (2023 - 20 ) .

Ace Adhesives Limited (Registered number: 02014624)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


4. Tangible fixed assets
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£ £ £ £ £
Cost
At 1 January 2024 311,816 635,235 138,757 2,846 1,088,654
Additions 11,265 51,011 130,838 24,015 217,129
Disposals - - (89,722 ) - (89,722 )
At 31 December 2024 323,081 686,246 179,873 26,861 1,216,061
Depreciation
At 1 January 2024 119,428 507,626 85,053 678 712,785
Charge for year 31,557 34,563 40,134 1,372 107,626
Eliminated on disposal - - (69,207 ) - (69,207 )
At 31 December 2024 150,985 542,189 55,980 2,050 751,204
Net book value
At 31 December 2024 172,096 144,057 123,893 24,811 464,857
At 31 December 2023 192,388 127,609 53,704 2,168 375,869

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2024
and 31 December 2024 469,648
Net book value
At 31 December 2024 469,648
At 31 December 2023 469,648

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 1,682,426 1,487,248
Amounts owed by group undertakings 675,320 661,115
Other debtors 28,517 21,940
2,386,263 2,170,303

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 100,000 100,000
Hire purchase contracts (see note 9) 46,114 34,669
Trade creditors 898,612 550,485
Taxation and social security 316,899 303,333
Other creditors 248,305 165,208
1,609,930 1,153,695

Ace Adhesives Limited (Registered number: 02014624)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 50,000 150,000
Hire purchase contracts (see note 9) 60,661 -
110,661 150,000

9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 46,114 34,669
Between one and five years 60,661 -
106,775 34,669

Non-cancellable
operating leases
2024 2023
£ £
Within one year 153,467 160,556
Between one and five years 280,585 400,365
In more than five years 2,304 5,769
436,356 566,690

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 150,000 250,000
Hire purchase contracts 106,775 34,669
256,775 284,669

The bank loans and overdrafts are secured by a fixed and floating charge over the assets of the company. Hire purchase liabilities are secured over the asset to which they relate.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
5,625 Ordinary 1.00 5,625 5,625

Ace Adhesives Limited (Registered number: 02014624)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


12. Reserves
Capital
Retained Share redemption
earnings premium reserve Totals
£ £ £ £

At 1 January 2024 2,775,195 49,000 14,400 2,838,595
Profit for the year 701,953 701,953
Dividends (514,142 ) (514,142 )
At 31 December 2024 2,963,006 49,000 14,400 3,026,406

13. Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Jonathan Moughton (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

The report of the Auditors was unqualified.

Jonathan Moughton (Senior Statutory Auditor) for and on behalf of Cooper Parry Group Limited.

14. Ultimate controlling party

The ultimate parent undertaking is DAM122 NV , a company incorporated in Belgium. The company's registered office and address for obtaining accounts is Pathoekeweg 122, 8000 Brugge, Belgium.
The immediate parent is Gluecom UK Limited. The company's registered office and address for obtaining accounts is Shenstone Drive, Walsall, United Kingdom, WS9 8TP.