Company Registration No. 10564727 (England and Wales)
Ace Academy Learning and Development LTD
Unaudited accounts
for the year ended 31 January 2022
Ace Academy Learning and Development LTD
Unaudited accounts
Contents
Ace Academy Learning and Development LTD
Company Information
for the year ended 31 January 2022
Director
Lukasz Kalinowski
Company Number
10564727 (England and Wales)
Registered Office
Davina House
137-149 Goswell Road
London
EC1V 7ET
United Kingdom
Accountants
Solid Ltd
Eagle House
163 City Road
London
EC1V 1NR
Ace Academy Learning and Development LTD
Statement of financial position
as at
31 January 2022
Cash at bank and in hand
3,415
20,865
Creditors: amounts falling due within one year
(27,465)
(5,983)
Net current (liabilities)/assets
(15,820)
18,532
Total assets less current liabilities
(15,802)
19,313
Creditors: amounts falling due after more than one year
(47,356)
(44,553)
Net liabilities
(63,158)
(25,240)
Called up share capital
1,000
1,000
Profit and loss account
(64,158)
(26,240)
Shareholders' funds
(63,158)
(25,240)
For the year ending 31 January 2022 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 May 2022 and were signed on its behalf by
Lukasz Kalinowski
Director
Company Registration No. 10564727
Ace Academy Learning and Development LTD
Notes to the Accounts
for the year ended 31 January 2022
Ace Academy Learning and Development LTD is a private company, limited by shares, registered in England and Wales, registration number 10564727. The registered office is Davina House, 137-149 Goswell Road, London, EC1V 7ET, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 years
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
At the balance date the company had a deficit of 63,158 (2021 ,25,240 deficit) on its balance sheet.
The corona-virus will have a significant impact on a large number of businesses including the company. Thus the director is aware of certain material uncertainties which may cast doubt over the company's ability to continue as a going concern.
The director is continually assessing the impact of the corona-virus on its customers. The company operates in other education sector (croupier courses).
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Ace Academy Learning and Development LTD
Notes to the Accounts
for the year ended 31 January 2022
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
5
Debtors: amounts falling due within one year
2022
2021
Trade debtors
6,130
1,550
Accrued income and prepayments
2,100
2,100
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
2,657
2,423
Loans from directors
18,393
1,522
7
Creditors: amounts falling due after more than one year
2022
2021
Aggregate of amounts that fall due for payment after five years
6,000
5,707
8
Share capital
2022
2021
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Average number of employees
During the year the average number of employees was 0 (2021: 0).