Registered Number
:
SC
358084
|
For the year ended 31 March 2018
Scotland
Unaudited Financial Statements
For the year ended 31 March 2018
Ace Trade Cars Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Ace Trade Cars Limited
Statement of Financial Position
2017
2018
Property
,
plant and equipment
|
27,052
27,052
2
27,052
27,052
368,509
354,001
3
Trade and other receivables
|
44,879
14,338
4
110,844
Cash and cash equivalents
|
140,165
508,504
524,232
Trade and other payables
:
amounts falling due within one
|
year
|
(418,898)
(376,258)
5
105,334
132,246
Net current assets
Total assets less current liabilities
|
159,298
132,386
159,298
Net assets
132,386
100
100
159,198
132,286
159,298
132,386
Shareholders' funds
For the year ended 31 March 2018 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 of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
Mr Andrew Brogan Director
|
These financial statements were approved and authorised for issue by the Board on 27 December 2018 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 March 2018
Ace Trade Cars Limited
Notes to the Financial Statements
Statutory Information
Ace Trade Cars Limited is a private limited company
,
limited by shares
,
domiciled in Scotland
,
registration number
|
SC
358084
.
|
Alba House
46 Balcarres Street
Edinburgh
Scotland
EH10 5JQ
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and machinery
Computer equipment
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
2
.
Property
,
plant and equipment
|
28,862
900
4,207
14,515
9,240
14,515
4,207
900
28,862
9,240
Provision for depreciation and impairment
|
1,810
-
838
972
-
1,810
-
838
972
-
9,240
13,543
3,369
900
27,052
9,240
13,543
3,369
900
27,052
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For the year ended 31 March 2018
Ace Trade Cars Limited
Notes to the Financial Statements Continued
2017
2018
354,001
368,509
4
.
Trade and other receivables
|
2017
2018
14,338
44,879
5
.
Trade and other payables
:
amounts falling due within one year
|
2017
2018
193
193
21,407
392
Taxation and social security
|
13,032
22,127
341,626
396,186
376,258
418,898
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