ACE GLASS (SOUTHERN) LIMITED - Accounts 2014


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 30/04/2014

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		4



The company's registered number is 07255933


Registered Number: 07255933

BALANCE SHEET AT 30/04/2014

			2014		2013
	Notes		£		£

FIXED ASSETS
Intangible assets	2		1		1
Tangible assets	3		34,732		27,163

			34,733		27,164

CURRENT ASSETS
Stock		12,500		10,000
Debtors (amounts falling due within one year)	4	53,085		95,261
Cash at bank and in hand		23,946		11,288
		89,531		116,549
CREDITORS: Amounts falling due within one year		65,766		70,340
NET CURRENT ASSETS			23,765		46,209
TOTAL ASSETS LESS CURRENT LIABILITIES			58,498		73,373


CREDITORS: Amounts falling due after more than one year	5		9,880		5,280

NET ASSETS			48,618		68,093

CAPITAL AND RESERVES

Called up share capital	6		2		2
Profit and loss account			48,616		68,091
SHAREHOLDERS' FUNDS			48,618		68,093


Registered Number: 07255933

For the year ending 30/04/2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.

Approved by the board on 03/12/2014 and signed on their behalf by




D Barker
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short Leasehold Properties		over the life of the lease%
Plant and Machinery		straight line 20%
Commercial Vehicles		reducing balance 25%
Fixtures and Fittings		reducing balance 25%




1c. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.




1d. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.




1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.




1f. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.




3. TANGIBLE FIXED ASSETS

	Short Leasehold	Plant and	Commercial	Fixtures
	Properties	Machinery	Vehicles	and Fittings	Total
	£	£	£	£	£
Cost
At 01/05/2013	12,319	2,502	18,395	3,965	37,181
Additions	-	1,825	14,000	-	15,825
At 30/04/2014	12,319	4,327	32,395	3,965	53,006
Depreciation
At 01/05/2013	738	1,500	6,041	1,739	10,018
For the year	246	865	6,589	556	8,256
At 30/04/2014	984	2,365	12,630	2,295	18,274
Net Book Amounts
At 30/04/2014	11,335	1,962	19,765	1,670	34,732
At 30/04/2013	11,581	1,002	12,354	2,226	27,163
Included above are commercial vehicles held under finance lease contracts with a net book value of £18,375 (2013 £10,500) and depreciation charged to date of £9,625 (2013 £3,500).




4. DEBTORS	2014	2013
	£	£

Amounts falling due within one year:
Trade debtors	45,698	95,259
Other Tax	7,385	-
Other debtors	2	2
	53,085	95,261




5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2014	2013
	£	£
Other creditors	9,880	5,280
	9,880	5,280


Included in other creditors are:
Obligations under finance leases	9,880	5,280




6. SHARE CAPITAL	2014	2013
	£	£
Allotted, issued and fully paid:
2 Ordinary shares of £1 each	2	2
	2	2




7. CONTROLLING PARTY
The company is under the control of its director by virtue of his interest in 50% of the issued share capital.