Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Ace Motors Limited
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ace Motors Limited
for the Year Ended 31 May 2013
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ace Motors Limited for the year ended 31 May 2013 set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Ace Motors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ace Motors Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ace Motors Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ace Motors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Ace Motors Limited. You consider that Ace Motors Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Ace Motors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Glover Stanbury & Co
Chartered Accountants
30 Bear Street
BARNSTAPLE
Devon
EX32 7DD
25 January 2014
Ace Motors Limited
(Registration number: 02505858)
Abbreviated Balance Sheet at 31 May 2013
Note |
2013
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2012
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
Approved and authorised for issue by the Board on
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2
Ace Motors Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2013
Accounting policies |
Basis of preparation
Going concern
The financial statements have been prepared on a going concern basis.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
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Financial instruments
Fixed assets |
Tangible assets
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Total
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Cost |
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At 1 June 2012 |
2,297 |
2,297 |
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At 31 May 2013 |
2,297 |
2,297 |
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Depreciation |
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At 1 June 2012 |
2,297 |
2,297 |
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At 31 May 2013 |
2,297 |
2,297 |
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Net book value |
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At 31 May 2013 |
- |
- |
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At 31 May 2012 |
- |
- |
Ace Motors Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2013
Share capital |
Allotted, called up and fully paid shares
2013 |
2012 |
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No. |
£ |
No. |
£ |
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