Company Registration No. 07526598 (England and Wales)
ACE Sash Windows Limited
Unaudited accounts
for the year ended 30 April 2020
ACE Sash Windows Limited
Unaudited accounts
Contents
ACE Sash Windows Limited
Company Information
for the year ended 30 April 2020
Director
Mr Colin Enticott
Company Number
07526598 (England and Wales)
Registered Office
58 Hallway Drive
Shilton
Coventry
CV7 9JQ
England
Accountants
Peacock Accountants Limited
71-75 Shelton Street
Covent Garden
London
England
WC2H 9JQ
ACE Sash Windows Limited
Statement of financial position
as at
30 April 2020
Tangible assets
627
4,959
Creditors: amounts falling due within one year
(5,399)
(7,994)
Net current assets/(liabilities)
390
(2,800)
Total assets less current liabilities
1,017
2,159
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
798
1,117
Shareholders' funds
898
1,217
For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 November 2020 and were signed on its behalf by
Mr Colin Enticott
Director
Company Registration No. 07526598
ACE Sash Windows Limited
Notes to the Accounts
for the year ended 30 April 2020
ACE Sash Windows Limited is a private company, limited by shares, registered in England and Wales, registration number 07526598. The registered office is 58 Hallway Drive, Shilton, Coventry, CV7 9JQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
Fixtures & fittings
20% on reducing balance
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
ACE Sash Windows Limited
Notes to the Accounts
for the year ended 30 April 2020
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balancesheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
4
Intangible fixed assets
Goodwill
ACE Sash Windows Limited
Notes to the Accounts
for the year ended 30 April 2020
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2019
2,183
10,194
900
13,277
Disposals
-
(10,194)
-
(10,194)
At 30 April 2020
2,183
-
900
3,083
At 1 May 2019
1,710
6,019
589
8,318
Charge for the year
95
-
62
157
On disposals
-
(6,019)
-
(6,019)
At 30 April 2020
1,805
-
651
2,456
At 30 April 2020
378
-
249
627
At 30 April 2019
473
4,175
311
4,959
Other debtors
4,809
4,694
8
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
3,783
211
Obligations under finance leases and hire purchase contracts
-
885
Taxes and social security
638
5,920
9
Average number of employees
During the year the average number of employees was 0 (2019: 1).