Statutory Information
ACE DRY LINING (NORTHANTS) LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration number 10357576, registration address 7 Furnace Lane, Finedon Sidings Industrial Estate, Wellingborough, Northants, NN9 5NY, England.
The presentation currency is £ sterling.
| 1. |
Accounting Policies
Basis of accounting
The accounts have been prepared under the historical cost convention and in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
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:| Fixtures and Fittings | 25% Reducing Balance | | Motor Vehicles | 25% Reducing Balance | | Computer Equipment | 33% Straight Line |
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
|
| 2. |
Tangible fixed assets
| Cost or Valuation |
|
Fixtures and Fittings |
|
Motor Vehicles |
|
Computer Equipment |
|
Total |
| |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
|
479 |
|
81,144 |
|
732 |
|
82,355 |
| Additions |
|
- |
|
47,390 |
|
- |
|
47,390 |
| Disposals |
|
- |
|
(11,195) |
|
- |
|
(11,195) |
| At 31 March 2025 |
|
479 |
|
117,339 |
|
732 |
|
118,550 |
| Depreciation |
| At 01 April 2024 |
|
277 |
|
45,959 |
|
732 |
|
46,968 |
| Charge for year |
|
51 |
|
13,471 |
|
- |
|
13,522 |
| On disposals |
|
- |
|
(6,199) |
|
- |
|
(6,199) |
| At 31 March 2025 |
|
328 |
|
53,231 |
|
732 |
|
54,291 |
| Net book values |
| Closing balance as at 31 March 2025 |
|
151 |
|
64,108 |
|
- |
|
64,259 |
| Opening balance as at 01 April 2024 |
|
202 |
|
35,185 |
|
- |
|
35,387 |
|
| 3. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade debtors |
25,579 |
|
146,577 |
| Other debtors |
0 |
|
402 |
| Prepayments |
5,020 |
|
5,157 |
| Social security & other tax |
0 |
|
35,764 |
| VAT |
0 |
|
11,265 |
| Directors' current account |
18,395 |
|
0 |
|
48,994 |
|
199,165 |
|
| 4. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade creditors |
84,520 |
|
8,220 |
| Accrued expenses |
1,365 |
|
1,300 |
| Pension Payable |
243 |
|
0 |
| Credit Card |
52,666 |
|
0 |
| Obligations under hp/financial leases |
9,226 |
|
5,768 |
| Directors' current account |
0 |
|
92 |
| Corporation tax |
0 |
|
24,089 |
| Social security & other tax |
21,229 |
|
0 |
| VAT |
877 |
|
0 |
|
170,126 |
|
39,469 |
|
| 5. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Obligations under hp/financial leases |
34,378 |
|
9,259 |
|
34,378 |
|
9,259 |
|
| 6. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred tax |
12,209 |
|
6,724 |
|
12,209 |
|
6,724 |
|
| 7. |
Share Capital
Allotted
|
2025
£ |
|
2024
£ |
|
100
Ordinary shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
| 8. |
Average number of employees
Average number of employees during the year were 4 (2024: 4).
|
| 9. |
Controlling Party
The company is controlled by its Directors.
|
4
|