2014-12-01
true
false
Private Limited Company
01960580
2015-11-30
01960580
2014-12-01
2015-11-30
01960580
2014-11-30
01960580
2013-12-01
2014-11-30
01960580
uk-bus:Director1
2014-12-01
2015-11-30
01960580
uk-gaap:ToolsEquipment
2014-12-01
2015-11-30
01960580
uk-gaap:MotorVehicles
2014-12-01
2015-11-30
01960580
uk-gaap:FixturesFittings
2014-12-01
2015-11-30
01960580
uk-gaap:WithinOneYear
2015-11-30
01960580
uk-gaap:WithinOneYear
2014-11-30
01960580
uk-gaap:AfterOneYear
2015-11-30
01960580
uk-gaap:AfterOneYear
2014-11-30
01960580
uk-bus:AllOrdinaryShares
2015-11-30
iso4217:GBP
For the year ended 30 November 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 01960580
2
ACE Lifts Ltd
For the year ended 30 November 2015
1
Balance Sheet
2 to 4
Notes to the Abbreviated Financial Statements
3
| Abbreviated Balance Sheet |
ACE Lifts Ltd
2015
2014
2
281,885
324,947
3
21,413
31,505
303,298
356,452
159,899
251,126
324,493
224,631
44,930
53,458
520,687
537,850
| Creditors: amounts falling due within one year |
4
(836,449)
(649,791)
(298,599)
(129,104)
Net current liabilities
| Total assets less current liabilities |
174,194
57,853
| Creditors: amounts falling due after more than one year |
5
(260,483)
(147,263)
(4,004)
(6,301)
| Provisions for liabilities |
22,927
Net assets/liabilities
(208,931)
100
6
100
22,827
(209,031)
22,927
(208,931)
Shareholders funds
| For the year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts |
| These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
| Date approved by the board: 23 December 2015 |
| Signed on behalf of the board of directors |
1 of 4
4
| Notes to the Abbreviated Financial Statements |
For the year ended 30 November 2015
ACE Lifts Ltd
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
| Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
| The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
| Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange |
| ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the |
| transaction. All foreign exchange differences are included to the profit and loss account. |
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.Deferred tax assets are only recognised if it is more likely than not that they will be recovered either against future taxable profits or against the reversal of other deferred tax liabilities. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
| by the shareholders prior to the balance sheet date. |
2 of 4
5
| Notes to the Abbreviated Financial Statements |
For the year ended 30 November 2015
ACE Lifts Ltd
| Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| Research and development expenditure is charged to the profit and loss account in the period in which it is incurred. |
| However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, |
| development expenditure is deferred and amortised over 10 years during which the company is expected to benefit. |
| 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: |
Office Equipment
Motor Vehicles
Fixtures & Fittings
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated over the shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
| Stocks and work in progress |
| Stocks and work in progress 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. Debtors include amounts recoverable on long term contracts which are stated at the net sales value of the work done after provision for contingencies and any anticipated future losses on contracts, less amounts received as progress payments on account. Any excess progress payments are included in creditors as payments on account. |
| The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the |
| factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the |
| proceeds received from the factor. |
3 of 4
6
| Notes to the Abbreviated Financial Statements |
For the year ended 30 November 2015
ACE Lifts Ltd
| 2 Intangible fixed assets |
578,599
14,798
593,397
253,652
57,860
Charge for year
311,512
118,148
2,876
121,024
86,643
12,968
Charge for year
99,611
21,413
31,505
2015
| 4 Creditors: amounts falling due within one year |
2014
82,507
9,583
Bank loans and overdrafts (secured)
| Included in Creditors: amounts falling due within one year Included in Other Creditors is a balance of £68,768 (2014:£186,019) relating to the company's sales invoices factoring arrangement |
2014
2015
| 5 Creditors due after more than one year |
147,263
260,483
Bank loans and overdrafts (secured)
| Allotted called up and fully paid |
2015
2014
| 100 Ordinary shares of £1.00 each |
100
100
100
100
4 of 4
