ACE Lifts Ltd,Ltd - AccountsLtd - Accounts
ACE Lifts Ltd,Ltd - AccountsLtd - Accounts
| Registered Number:01960580 |
For the year ended 30 November 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 30 November 2018
ACE Lifts Ltd
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
3
| As at |
ACE Lifts Ltd
Statement of Financial Position
| Registered Number : |
| £ |
| £ |
2017
2018
| Notes |
| Fixed assets |
| Intangible assets |
3
| Property, plant and equipment |
4
| Current assets |
| Inventories |
5
| Trade and other receivables |
6
| Cash and cash equivalents |
| Trade and other payables: amounts falling due within one |
| year |
(1,655,436 )
(1,624,468 )
7
(625,252)
(315,749 )
Net current liabilities
| Total assets less current liabilities |
| Trade and other payables: amounts falling due after more |
| than one year |
(197,252 )
(446,823 )
8
(46,171 )
(27,826 )
| Provisions for liabilities |
Net assets
| Capital and reserves |
| Called up share capital |
| Retained earnings |
Shareholders' funds
| 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. |
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4
For the year ended 30 November 2018
ACE Lifts Ltd
Statement of Financial Position Continued
| These financial statements were approved and authorised for issue by the Board on |
| The notes form part of these financial statements |
2 of 6
5
For the year ended 30 November 2018
ACE Lifts Ltd
Notes to the Financial Statements
Statutory Information
| ACE Lifts Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number |
| 01960580. |
| Registered address: |
Units 4 & 5
St Ives Way
Sandycroft
Flintshire
CH7 3PL
| The presentation currency is £ sterling. |
| 1. Accounting policies |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A 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
Research and development
Intangible assets
Property, plant and equipment
Plant & machinery
Motor vehicles
Fixtures & fittings
Government grants
Inventories
Deferred tax
3 of 6
6
For the year ended 30 November 2018
ACE Lifts Ltd
Notes to the Financial Statements Continued
Foreign currencies
Hire purchase and leasing commitments
| 2. Prior year adjustments |
| The financial statements for the prior year to 30th November 2017 have been restated for unforeseen additional net |
| costs incurred on a contract. The overall effect of the restatement is reduce the net profit for the year to 30th |
| November 2017 from £382,366 to £114,597. |
| 3. Intangible fixed assets |
| Research & |
| Development |
| Cost or valuation |
| £ |
| At 01 December 2017 |
| Additions |
| At 30 November 2018 |
| Amortisation |
| At 01 December 2017 |
Charge for year
| At 30 November 2018 |
| Net book value |
| At 30 November 2018 |
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7
For the year ended 30 November 2018
ACE Lifts Ltd
Notes to the Financial Statements Continued
| 4. Property, plant and equipment |
| Total |
| Fixtures & |
| fittings |
Motor vehicles
| Plant & |
| machinery |
| £ |
| £ |
| £ |
| £ |
| Cost or |
| valuation |
| At 01 December 2017 |
| Additions |
(14,069 )
| Disposals |
(14,069 )
| At 30 November 2018 |
| Provision for depreciation and impairment |
| At 01 December 2017 |
Charge for year
(832 )
(832 )
| On disposal |
| At 30 November 2018 |
| At 30 November 2018 |
| Net book value |
| At 30 November 2017 |
| 5. Inventories |
2017
2018
| £ |
| £ |
| Stocks |
| 6. Trade and other receivables |
2017
2018
| £ |
| £ |
| Trade debtors |
| Prepayments and accrued income |
| Amounts owed by directors |
| Other debtors |
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8
For the year ended 30 November 2018
ACE Lifts Ltd
Notes to the Financial Statements Continued
| 7. Trade and other payables: amounts falling due within one year |
2017
2018
| £ |
| £ |
| Bank loans and overdraft (secured) |
| Bank loans and overdraft |
| Trade creditors |
| Taxation and social security |
| Accruals and deferred income |
| Non-equity preference shares |
-
267,768
| Directors' loan accounts |
| Obligations under HP/Financial leases |
| Other creditors |
| 8. Trade and other payables: amounts falling due after more than one year |
2017
2018
| £ |
| £ |
| Bank loans and overdraft (secured) |
323,819
52,260
| Obligations under HP/Financial leases |
| 9. Directors advances and guarantees |
| At 01/12/2017 |
Loaned
Repaid
| At 30/11/2018 |
| £ |
| £ |
| £ |
| £ |
Mr C Salter
(902 )
(902)
59,200
243,899
304,001
| 10. Average number of persons employed |
During the year the average number of employees was 59 (2017 : 48 )
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