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Notes to the financial statements
Period ended 31 March 2026
ACECPROP Ltd ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is 2nd Floor, Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The company incurred a loss of £4,993 during the period and, at 31 March 2026, had net current liabilities of £432,841 and net liabilities of £4,893. Included within creditors due within one year is £458,154 owed to A Chandra Limited, a related company. The directors have considered the company's financial position and its expected future trading and cash requirements. The financial statements have been prepared on a going concern basis on the assumption that A Chandra Limited will continue to provide financial support and will not seek repayment of amounts due where this would prejudice the company's ability to meet its liabilities as they fall due. The directors consider this assumption to be reasonable and therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date the financial statements are authorised for issue.
Revenue from holiday lettings is recognised over the period in which the accommodation is provided.
Revenue is measured at the fair value of the consideration received or receivable, net of any discounts or rebates offered
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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