REGISTERED NUMBER: 01601139 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

ACE GEARBOXES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J A Tur

REGISTERED OFFICE:

Unit 8 Quorn Way

Grafton Industrial Estate

Northampton

Northamptonshire

NN1 2PN

REGISTERED NUMBER:

01601139 (England and Wales)

ACCOUNTANTS:

ISIS Business Solutions (Northants) LLP

Venture Court

2 Debdale Road

Wellingborough

Northamptonshire

NN8 5AA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

92,227

80,240

92,227

80,240

CURRENT ASSETS

Stocks

82,000

82,000

Debtors

6

725,799

692,403

Cash at bank

3,269,133

2,883,549

4,076,932

3,657,952

CREDITORS

Amounts falling due within one year

7

392,857

503,843

NET CURRENT ASSETS

3,684,075

3,154,109

TOTAL ASSETS LESS CURRENT LIABILITIES

3,776,302

3,234,349

PROVISIONS FOR LIABILITIES

17,413

17,435

NET ASSETS

3,758,889

3,216,914

CAPITAL AND RESERVES

Called up share capital

6,000

6,000

Retained earnings

3,752,889

3,210,914

SHAREHOLDERS' FUNDS

3,758,889

3,216,914

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 6th November 2025 and were signed by:

Mr J A Tur - Director

1.	STATUTORY INFORMATION

Ace Gearboxes 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.

Turnover

The company`s turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year. None of the company`s turnover relates to exports.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1990, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

5,000

AMORTISATION

At 1st April 2024

and 31st March 2025

5,000

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2024

151,155

16,463

38,368

19,179

225,165

Additions

215

751

28,329

525

29,820

At 31st March 2025

151,370

17,214

66,697

19,704

254,985

DEPRECIATION

At 1st April 2024

88,886

13,676

23,957

18,406

144,925

Charge for year

6,233

302

10,457

841

17,833

At 31st March 2025

95,119

13,978

34,414

19,247

162,758

NET BOOK VALUE

At 31st March 2025

56,251

3,236

32,283

457

92,227

At 31st March 2024

62,269

2,787

14,411

773

80,240

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

386,017

350,815

Amounts owed by group undertakings

325,400

325,400

Other debtors

14,382

16,188

725,799

692,403

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

84,105

137,190

Amounts owed to group undertakings

23,203

23,237

Taxation and social security

279,606

214,245

Other creditors

5,943

129,171

392,857

503,843

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is an amount owing to the director of £5 (2024: £21). This loan is interest free and has no repayment terms.

9.	RELATED PARTY DISCLOSURES

At the balance sheet date there were the following balances in relation to related party transactions;

- Due to Ace GB Holdings Ltd £23,203 (2024: £23,237)

- Due from Ace GB Investments Ltd £325,400 (2024: £325,400)

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Ace GB Holdings Limited.

The ultimate controlling party is Mr J A Tur.