| Ace Bars Limited |
| Registered number: |
06900424 |
| Balance Sheet |
| as at 31 May 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
17,320 |
|
|
18,471 |
|
| Current assets |
| Stocks |
|
|
225 |
|
|
525 |
| Debtors |
4 |
|
795 |
|
|
3,577 |
| Cash at bank and in hand |
|
|
8,153 |
|
|
1,846 |
|
|
|
9,173 |
|
|
5,948 |
|
| Creditors: amounts falling due within one year |
5 |
|
(3,262) |
|
|
(8,453) |
|
| Net current assets/(liabilities) |
|
|
|
5,911 |
|
|
(2,505) |
|
| Total assets less current liabilities |
|
|
|
23,231 |
|
|
15,966 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(20,200) |
|
|
(12,425) |
|
| Provisions for liabilities |
|
|
|
(2,503) |
|
|
- |
|
|
| Net assets |
|
|
|
528 |
|
|
3,541 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
527 |
|
|
3,540 |
|
| Shareholders' funds |
|
|
|
528 |
|
|
3,541 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr A Morris |
| Director |
| Approved by the board on 27 May 2021 |
|
| Ace Bars Limited |
| Notes to the Accounts |
| for the year ended 31 May 2020 |
|
|
| 1 |
Accounting policies |
|
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold property |
nil |
|
Plant and machinery |
20% reducing balance |
|
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. |
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
|
|
|
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 June 2019 |
4,145 |
|
15,727 |
|
12,650 |
|
32,522 |
|
Additions |
- |
|
2,830 |
|
6,850 |
|
9,680 |
|
Disposals |
- |
|
- |
|
(12,650) |
|
(12,650) |
|
At 31 May 2020 |
4,145 |
|
18,557 |
|
6,850 |
|
29,552 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2019 |
- |
|
10,169 |
|
3,882 |
|
14,051 |
|
Charge for the year |
- |
|
2,063 |
|
- |
|
2,063 |
|
On disposals |
- |
|
- |
|
(3,882) |
|
(3,882) |
|
At 31 May 2020 |
- |
|
12,232 |
|
- |
|
12,232 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2020 |
4,145 |
|
6,325 |
|
6,850 |
|
17,320 |
|
At 31 May 2019 |
4,145 |
|
5,558 |
|
8,768 |
|
18,471 |
|
|
| 4 |
Debtors |
2020 |
|
2019 |
| £ |
£ |
|
|
Trade debtors |
517 |
|
3,176 |
|
Other debtors |
278 |
|
401 |
|
|
|
|
|
|
795 |
|
3,577 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Bank loans and overdrafts |
850 |
|
4,188 |
|
Trade creditors |
152 |
|
1,693 |
|
Taxation and social security costs |
798 |
|
2,572 |
|
Other creditors |
1,462 |
|
- |
|
|
|
|
|
|
3,262 |
|
8,453 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Other creditors |
20,200 |
|
12,425 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Controlling party |
|
|
The company is controlled by the director. |
|
|
| 8 |
Other information |
|
|
Ace Bars Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
55 Hand Lane |
|
Pennington |
|
Leigh |
|
Lancs |
|
WN7 3NA |
