| REGISTERED NUMBER: |
| Ace Adhesives Limited |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| REGISTERED NUMBER: |
| 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: |
| Secretary: |
| Registered office: |
| Registered number: |
| Auditors: |
| 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 |
| Investments | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
| Net assets |
| Capital and reserves |
| Called up share capital | 11 |
| Share premium | 12 |
| Capital redemption reserve | 12 |
| Retained earnings | 12 |
| Shareholders' funds |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| 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 |
| Long leasehold | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 |
| 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 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 January 2024 |
| and 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 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 |
| Hire purchase contracts (see note 9) |
| 9. | Leasing agreements |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 10. | Secured debts |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 106,775 | 34,669 |
| 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: | £ | £ |
| 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 | 2,838,595 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 December 2024 | 3,026,406 |
| 13. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Auditors' Report was unqualified. |
| for and on behalf of |
| 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. |