Abbreviated Company Accounts - 1 ACE SKIPS LIMITED

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Registered Number 06300776

1 ACE SKIPS LIMITED

Abbreviated Accounts

31 March 2013

1 ACE SKIPS LIMITED Registered Number 06300776

Abbreviated Balance Sheet as at 31 March 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	60,114	66,629
		60,114	66,629
Current assets
Debtors		92,246	89,107
		92,246	89,107
Creditors: amounts falling due within one year	3	(99,254)	(142,556)
Net current assets (liabilities)		(7,008)	(53,449)
Total assets less current liabilities		53,106	13,180
Creditors: amounts falling due after more than one year	3	(41,474)	(3,889)
Total net assets (liabilities)		11,632	9,291
Capital and reserves
Called up share capital	4	31	31
Profit and loss account		11,601	9,260
Shareholders' funds		11,632	9,291

For the year ending 31 March 2013 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 31 May 2013

And signed on their behalf by:
Mr J B Catlow, Director

1 ACE SKIPS LIMITED Registered Number 06300776

Notes to the Abbreviated Accounts for the period ended 31 March 2013

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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 10% reducing balance
Motor Vehicles - 25% reducing balance
Equipment - 3 years straight line

Other accounting policies
Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

2Tangible fixed assets

	£
Cost
At 1 April 2012	146,672
Additions	799
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2013	147,471
Depreciation
At 1 April 2012	80,043
Charge for the year	7,314
On disposals	-
At 31 March 2013	87,357
Net book values
At 31 March 2013	60,114
At 31 March 2012	66,629

3Creditors

	2013 £	2012 £
Secured Debts	73,621	71,584
Instalment debts due after 5 years	29,261	-

4Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
10 A Ordinary shares of £1 each	10	10
10 B Ordinary shares of £1 each	10	10
1 C Ordinary share of £1 each	1	1
10 D Ordinary shares of £1 each	10	10