Registered Number
:
04741464
|
For the year ended 30 April 2020
England and Wales
Unaudited Financial Statements
Ace Gas Ltd
Statement of Financial Position
2019
2020
Property
,
plant and equipment
|
2,534,259
2,530,308
3
10
10
4
2,534,269
2,530,318
278,595
315,635
5
Trade and other receivables
|
602,832
573,060
6
108,392
Cash and cash equivalents
|
114,004
1,002,699
989,819
Trade and other payables
:
amounts falling due within one
|
year
|
(686,085)
(703,700)
7
303,734
298,999
Net current assets
Total assets less current liabilities
|
2,833,268
2,834,052
Trade and other payables
:
amounts falling due after more
|
than one year
|
(1,314,549)
(1,182,145)
8
1,651,123
Net assets
1,519,503
4
4
1,651,119
1,519,499
1,651,123
1,519,503
Shareholders' funds
For the year ended 30 April 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 28 August 2020 and were signed by:
|
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For the year ended 30 April 2020
Ace Gas Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 6
For the year ended 30 April 2020
Ace Gas Ltd
Notes to the Financial Statements
Statutory Information
Ace Gas Ltd is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration number
|
04741464
.
|
Black Brook Way
Greetland
Halifax
HX4 8ED
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
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 5 years.
|
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and machinery
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
|
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For the year ended 30 April 2020
Ace Gas Ltd
Notes to the Financial Statements Continued
2
.
Intangible fixed assets
|
Goodwill
31,801
31,801
31,801
31,801
-
-
3
.
Property
,
plant and equipment
|
Motor vehicles
2,935,306
220,657
608,175
2,106,474
65,876
17,599
47,941
336
2,106,810
656,116
238,256
3,001,182
Provision for depreciation and impairment
|
404,998
130,576
274,422
-
Charge for year
61,925
24,125
37,800
-
466,923
154,701
312,222
-
2,106,810
343,894
83,555
2,534,259
2,106,474
333,753
90,081
2,530,308
4 of 6
For the year ended 30 April 2020
Ace Gas Ltd
Notes to the Financial Statements Continued
4
.
Investments held as fixed assets
|
Shares in group and participating interests
|
10
10
10
10
10
10
10
10
2019
2020
315,635
278,595
6
.
Trade and other receivables
|
2019
2020
95,801
102,398
Prepayments and accrued income
|
54,531
50,754
Taxation and social security
|
20,639
21,667
402,089
428,013
602,832
573,060
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For the year ended 30 April 2020
Ace Gas Ltd
Notes to the Financial Statements Continued
7
.
Trade and other payables
:
amounts falling due within one year
|
2019
2020
292,443
350,695
Taxation and social security
|
42,573
4,473
98,500
98,500
Accruals and deferred income
|
5,629
10,896
Directors
'
loan accounts
|
209,799
176,855
Obligations under HP
/
Financial leases
|
54,756
44,666
703,700
686,085
8
.
Trade and other payables
:
amounts falling due after more than one year
|
2019
2020
1,076,369
1,173,464
141,085
105,776
Obligations under HP
/
Financial leases
|
1,182,145
1,314,549
9
.
Average number of persons employed
|
During the year the average number of employees was 11 (2019 : 10)
6 of 6