AC3 Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08453864 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

FOR

AC3 SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A N Cooke

A Cree

REGISTERED OFFICE:

21 White Meadow

Lea

Preston

Lancashire

PR2 1XD

REGISTERED NUMBER:

08453864 (England and Wales)

ACCOUNTANTS:

TLL Accountants

7-9 Station Road

Hesketh Bank

Preston

Lancashire

PR4 6SN

FIXED ASSETS

Tangible assets

4

7,208

5,656

CURRENT ASSETS

Debtors

5

8,509

14,208

Cash at bank and in hand

83,012

58,274

91,521

72,482

CREDITORS

Amounts falling due within one year

6

46,546

39,521

NET CURRENT ASSETS

44,975

32,961

TOTAL ASSETS LESS CURRENT LIABILITIES

52,183

38,617

PROVISIONS FOR LIABILITIES

7

1,370

-

NET ASSETS

50,813

38,617

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

50,809

38,613

SHAREHOLDERS' FUNDS

50,813

38,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th June 2021 and were signed on its behalf by:

A Cree - Director

1.	STATUTORY INFORMATION

AC3 Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2020

8,241

24,628

32,869

Additions

-

4,268

4,268

At 31st March 2021

8,241

28,896

37,137

DEPRECIATION

At 1st April 2020

4,061

23,152

27,213

Charge for year

836

1,880

2,716

At 31st March 2021

4,897

25,032

29,929

NET BOOK VALUE

At 31st March 2021

3,344

3,864

7,208

At 31st March 2020

4,180

1,476

5,656

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

6,509

12,208

Other debtors

2,000

2,000

8,509

14,208

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

1,894

3,752

Taxation and social security

20,741

14,477

Other creditors

23,911

21,292

46,546

39,521

7.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

1,370

-

Deferred

tax

£

Provided during year

1,370

Balance at 31st March 2021

1,370

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their 100% ownership of the issued share capital.