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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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Ace&Me Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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for |
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Ace&Me Limited |
Ace&Me Limited (Registered number: 08926654) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Report of the Accountants | 8 |
Ace&Me Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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76-80 |
Baddow Road |
Chelmsford |
Essex |
CM2 7PJ |
Ace&Me Limited (Registered number: 08926654) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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. |
Ace&Me Limited (Registered number: 08926654) |
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Balance Sheet - continued |
31 March 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Ace&Me Limited (Registered number: 08926654) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Ace&Me Limited is a
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The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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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. |
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Tangible fixed assets |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Ace&Me Limited (Registered number: 08926654) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in |
periods different from those in which they are recognised in financial statements. Deferred |
tax is measured using tax rates and laws that have been enacted or substantively enacted |
by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it |
is probable that they will be recovered against the reversal of deferred tax liabilities or other |
future taxable profits. |
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Going concern |
The financial statements have been prepared on a going concern basis even through at the |
balance sheet date the company had net liabilities amounting to £36,486 2017:£35,567 and |
incurred a net loss after tax of £919 2017 profit 662 for the year. |
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The directors have concluded that a material uncertainly exists that casts significant doubt |
upon the company's ability to continue as a going concern and that, therefore, the company |
may be unable to realise its assets and discharge its liabilities in the normal course of |
business. |
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However, the shareholders have expressed their willingness to provide financial support for |
the next 12 months as from the date of approval of the financial statements in order for the |
company to meet its current liabilities, therefore the directors continue to adopt the going |
concern basis of accounting. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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AMORTISATION |
At 1 April 2017 |
and 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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Ace&Me Limited (Registered number: 08926654) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
and 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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6. | STOCKS |
31.3.18 | 31.3.17 |
£ | £ |
Finished goods |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
Ace&Me Limited (Registered number: 08926654) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 April 2017 | ( |
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Deficit for the year | ( |
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At 31 March 2018 | ( |
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11. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company owed money to the directors as follows: |
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Ms A Eberstein £23,648 |
Ms P Hagno £23,210 |
Ace&Me Limited |
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Report of the Accountants to the Directors of |
Ace&Me Limited |
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The following reproduces the text of the report prepared for the directors in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act |
2006, the company is only required to file a Balance Sheet. Readers are cautioned that the |
Income Statement and certain other primary statements and the Report of the Directors are |
not required to be filed with the Registrar of Companies. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2018 set out on pages one to eleven and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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76-80 |
Baddow Road |
Chelmsford |
Essex |
CM2 7PJ |
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