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Company registration number: 08405711

Acreman Properties Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Acreman Properties Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Acreman Properties Limited

(Registration number: 08405711)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Current assets

 

Stocks

4

1,065,000

1,273,030

Debtors

5

11,063

14,393

Cash at bank and in hand

 

50,198

49,251

 

1,126,261

1,336,674

Creditors: Amounts falling due within one year

6

(3,876)

(8,155)

Net assets

 

1,122,385

1,328,519

Capital and reserves

 

Called up share capital

1,591,102

1,591,102

Profit and loss account

(468,717)

(262,583)

Total equity

 

1,122,385

1,328,519

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

Approved and authorised by the Board on 31 August 2022 and signed on its behalf by:
 


R H Fearis
Director

   
 

Acreman Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Morley House
36 Acreman Street
Sherborne
Dorset
DT9 3NX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£).

Turnover recognition

Turnover is recognised on property sales on exchange of contracts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment.

 

Acreman Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Reserves

Called up share capital represents the nominal value of shares that have been issued.

Profit and loss account includes all current and prior period profits and losses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2020 - 2).

4

Stocks

2021
£

2020
£

Other stocks

1,065,000

1,273,030

5

Debtors

2021
 £

2020
 £

Other debtors

11,063

14,393

Total current trade and other debtors

11,063

14,393

 

Acreman Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021

6

Creditors

2021
£

2020
£

Due within one year

 

Trade creditors

 

-

4,836

Other creditors

 

3,876

3,319

 

3,876

8,155