Ace Contracts (London) Ltd - Limited company - abbreviated - 11.0.0

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2013

for

Ace Contracts (London) Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A Glibbery

Mrs K J Glibbery

SECRETARY:

Mrs K J Glibbery

REGISTERED OFFICE:

146 High Street

Billericay

Essex

CM12 9DF

REGISTERED NUMBER:

04094960 (England and Wales)

ACCOUNTANTS:

Michael Letch & Partners LLP

Accountants

146 High Street

Billericay

Essex

CM12 9DF

FIXED ASSETS

Tangible assets

2

157,739

198,941

CURRENT ASSETS

Stocks

90,496

71,433

Debtors

590,737

478,434

Cash at bank and in hand

131,995

46,813

813,228

596,680

CREDITORS

Amounts falling due within one year

564,368

426,732

NET CURRENT ASSETS

248,860

169,948

TOTAL ASSETS LESS CURRENT LIABILITIES

406,599

368,889

CREDITORS

Amounts falling due after more than one year

-

(13,038

)

PROVISIONS FOR LIABILITIES

(19,089

)

(22,066

)

NET ASSETS

387,510

333,785

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

387,410

333,685

SHAREHOLDERS' FUNDS

387,510

333,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 August 2014 and were signed on its behalf by:

A Glibbery - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and Straight line over 15 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

323,744

Additions

10,280

Disposals

(46,742

)

At 31 December 2013

287,282

DEPRECIATION

At 1 January 2013

124,803

Charge for year

27,584

Eliminated on disposal

(22,844

)

At 31 December 2013

129,543

NET BOOK VALUE

At 31 December 2013

157,739

At 31 December 2012

198,941

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

100

Ordinary

£1

100

100

4.	ULTIMATE PARENT COMPANY

Ace Acquisitions Company Limited (incorporated in England & Wales ) is regarded by the directors as being the

company's ultimate parent company.