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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 10 NOVEMBER 2017 |
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ACE COMMODITIES TRADING LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 10 NOVEMBER 2017 |
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FOR |
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ACE COMMODITIES TRADING LIMITED |
ACE COMMODITIES TRADING LIMITED (Registered number: 07339098) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 10 November 2017 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 5 |
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ACE COMMODITIES TRADING LIMITED |
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COMPANY INFORMATION |
for the year ended 10 November 2017 |
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Director: |
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Registered office: |
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Business address: |
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Registered number: |
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Accountants: |
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129 North Hill |
Plymouth |
Devon |
PL4 8JY |
ACE COMMODITIES TRADING LIMITED (Registered number: 07339098) |
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BALANCE SHEET |
10 November 2017 |
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2017 | 2016 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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Net current (liabilities)/assets | ( |
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Total assets less current liabilities | ( |
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Creditors |
Amounts falling due after more than
one year |
7 |
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Net liabilities | ( |
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Capital and reserves |
Called up share capital | 8 |
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Retained earnings | ( |
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Shareholders' funds | ( |
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ACE COMMODITIES TRADING LIMITED (Registered number: 07339098) |
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BALANCE SHEET - continued |
10 November 2017 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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ACE COMMODITIES TRADING LIMITED (Registered number: 07339098) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 10 November 2017 |
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1. | STATUTORY INFORMATION |
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Ace Commodities Trading Limited is a private company, limited by shares, registered in |
England and Wales. The company's registered number, business address and registered |
office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section |
1a "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard |
applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial |
statements have been prepared under the historical cost convention. The company is no |
longer a going concern and has subsequently become dormant. |
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Turnover |
Turnover represents amounts receivable in respect of goods net of any sales tax. Turnover |
is recognised upon dispatch of the produce to the customer. |
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Stocks |
Stocks are measured at the lower of cost and estimated selling price less costs to complete |
and sell. Cost is determined using the first in first out method. The carrying amount of stock |
sold is recognised as an expense in the period in which the related revenue is recognised. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & |
Loss Account, except to the extent that it relates to items recognised in other comprehensive |
income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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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. |
ACE COMMODITIES TRADING LIMITED (Registered number: 07339098) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 10 November 2017 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
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There are no fixed assets. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary shares | £1 | 100 | 100 |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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