Ace Bars Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06900424 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 31 May 2016

for

Ace Bars Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

A B Morris

REGISTERED OFFICE:

55 Hand Lane

Pennington

Leigh

Lancashire

WN7 3NA

REGISTERED NUMBER:

06900424 (England and Wales)

ACCOUNTANTS:

Elaine Horsley & Co

Ivy House

687 Ormskirk Road

Pemberton

Wigan

Lancashire

WN5 8AQ

FIXED ASSETS

Tangible assets

2

12,771

14,036

CURRENT ASSETS

Cash at bank and in hand

910

1,983

CREDITORS

Amounts falling due within one year

12,376

15,790

NET CURRENT LIABILITIES

(11,466

)

(13,807

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,305

229

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

1,304

228

SHAREHOLDERS' FUNDS

1,305

229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 31 January 2017 and were signed by:

A B Morris - 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 January 2015).

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.

Plant and machinery etc

-

25% on reducing balance

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

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

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

20,569

Additions

1,207

At 31 May 2016

21,776

DEPRECIATION

At 1 June 2015

6,533

Charge for year

2,472

At 31 May 2016

9,005

NET BOOK VALUE

At 31 May 2016

12,771

At 31 May 2015

14,036

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.16

31.5.15

value:

£

1

Ordinary

£1

1