Company Registration No. 09243874 (England and Wales)
2ACE PERFORMANCE LTD
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
2ACE PERFORMANCE LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
2ACE PERFORMANCE LTD
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Cash at bank and in hand
175
657
Creditors: amounts falling due within one year
(21,988)
(9,168)
Total assets less current liabilities
(21,813)
(8,511)
Capital and reserves
Called up share capital
2
100
100
Profit and loss account
(21,913)
(8,611)
Shareholders' funds
(21,813)
(8,511)
For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 July 2017
M Moore
Director
Company Registration No. 09243874
2ACE PERFORMANCE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements have been drawn up on the basis that the company is a going concern. The validity of the going concern basis of accounting depends on the continuing support of
the Director. M Moore h
as confirmed that it is not his intention to withdraw his support for the company in the foreseeable future and that he will not seek repayment of his loan to the company unless the company's cashflow permits repayment to be made without jeopardising the company's position.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
2
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
3
Related party relationships and transactions
Loan from Director
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
M Moore - Loan
-
9,168
12,820
-
-
21,988
9,168
12,820
-
-
21,988