Ace Glass (Southern) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07255933 (England and Wales)

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

ACE GLASS (SOUTHERN) LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Barker

SECRETARY:

REGISTERED OFFICE:

Unit 5 Woodingdean Business Park

Seaview Way

Bexhill Road

Brighton

BN2 6NT

REGISTERED NUMBER:

07255933 (England and Wales)

ACCOUNTANTS:

Simon Winnard & Company

Redington Court

69 Church Road

Hove

East Sussex

BN3 2BB

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

19,793

23,188

19,794

23,189

CURRENT ASSETS

Stocks

25,000

26,425

Debtors

6,902

20,196

Cash at bank and in hand

163

3,481

32,065

50,102

CREDITORS

Amounts falling due within one year

54,188

61,108

NET CURRENT LIABILITIES

(22,123

)

(11,006

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,329

)

12,183

CREDITORS

Amounts falling due after more than one year

-

1,395

NET (LIABILITIES)/ASSETS

(2,329

)

10,788

CAPITAL AND RESERVES

Called up share capital

1

1

Capital redemption reserve

(9,952

)

(9,952

)

Retained earnings

7,622

20,739

(2,329

)

10,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 24 January 2019 and were signed by:

D Barker - Director

1.	STATUTORY INFORMATION

Ace Glass (Southern) Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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, net of discounts and value

added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment

losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write

off the cost, less estimated residual value, of each asset evenly over it's expected useful life, as follows:

Freehold property - over 50 years

Plant and Machinery - over 5 years

Fixtures and Fittings - over 4 years (reducing balance method)

Motor Vehicles - over 4 years (reducing balance method)

Stocks

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

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

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

and 30 April 2018

3,581

AMORTISATION

At 1 May 2017

and 30 April 2018

3,580

NET BOOK VALUE

At 30 April 2018

1

At 30 April 2017

1

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2017

and 30 April 2018

58,411

DEPRECIATION

At 1 May 2017

35,223

Charge for year

3,395

At 30 April 2018

38,618

NET BOOK VALUE

At 30 April 2018

19,793

At 30 April 2017

23,188

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals

£

COST

At 1 May 2017

and 30 April 2018

37,800

DEPRECIATION

At 1 May 2017

25,914

Charge for year

2,972

At 30 April 2018

28,886

NET BOOK VALUE

At 30 April 2018

8,914

At 30 April 2017

11,886