Registered Number 02887491

ACE MOTORS (SOUTH ELMSALL) LIMITED

Abbreviated Accounts

31 January 2014

ACE MOTORS (SOUTH ELMSALL) LIMITED Registered Number 02887491

Abbreviated Balance Sheet as at 31 January 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 33,305 33,305
Tangible assets 3 252,794 256,127
286,099 289,432
Current assets
Stocks 1,130 2,980
Debtors 1,385 -
Cash at bank and in hand 2,666 7,439
5,181 10,419
Prepayments and accrued income - 1,400
Creditors: amounts falling due within one year (29,064) (34,226)
Net current assets (liabilities) (23,883) (22,407)
Total assets less current liabilities 262,216 267,025
Creditors: amounts falling due after more than one year (213,064) (209,673)
Total net assets (liabilities) 49,152 57,352
Capital and reserves
Called up share capital 45,001 45,001
Profit and loss account 4,151 12,351
Shareholders' funds 49,152 57,352
  • For the year ending 31 January 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 21 May 2015

And signed on their behalf by:
Mr A Wilkinson, Director

ACE MOTORS (SOUTH ELMSALL) LIMITED Registered Number 02887491

Notes to the Abbreviated Accounts for the period ended 31 January 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services to customers.

Tangible assets depreciation policy
Depreciation is provided at the following rates in order to write off the assets over their useful lives.
Plant and Machinery - 25% reducing balance
Motor Vehicles - 25% reducing balance

Valuation information and policy
Stock is valued at the lower of cost and net realisable value.

2Intangible fixed assets
£
Cost
At 1 February 2013 45,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 January 2014 45,000
Amortisation
At 1 February 2013 11,695
Charge for the year -
On disposals -
At 31 January 2014 11,695
Net book values
At 31 January 2014 33,305
At 31 January 2013 33,305
3Tangible fixed assets
£
Cost
At 1 February 2013 507,738
Additions 12,780
Disposals -
Revaluations -
Transfers -
At 31 January 2014 520,518
Depreciation
At 1 February 2013 251,611
Charge for the year 16,113
On disposals -
At 31 January 2014 267,724
Net book values
At 31 January 2014 252,794
At 31 January 2013 256,127