SC167335falseProperty rental2020-08-012021-07-31http://www.companieshouse.gov.uk/2020-07-31http://www.companieshouse.gov.uk/pt:ShareCapital2020-07-31http://www.companieshouse.gov.uk/cd:Director12020-08-012021-07-31http://www.companieshouse.gov.uk/pt:ShareCapital2021-07-31http://www.companieshouse.gov.uk/cd:Director22020-08-012021-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12020-08-012021-07-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2020-08-012021-07-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2020-08-012021-07-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2021-07-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2020-07-31http://www.companieshouse.gov.uk/2020-08-012021-07-31http://www.companieshouse.gov.uk/2020-07-31http://www.companieshouse.gov.uk/cd:FRS1022020-08-012021-07-31http://www.companieshouse.gov.uk/2021-07-31http://www.companieshouse.gov.uk/cd:FullAccounts2020-08-012021-07-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2020-08-012021-07-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: SC167335

Acretown Limited

ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2021


Acretown Limited

ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2021
DIRECTORS
D K Court
J B Alexander
SECRETARY
D K Court
REGISTERED OFFICE
10 Sunnyside
Edinburgh
City of Edinburgh
EH7 5RA
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC167335
ACCOUNTANTS
Hodgson and Company
16 Barnes Green
Livingston
West Lothian
EH54 8PP

Acretown Limited

ACCOUNTS
FOR THEYEARENDED31 JULY 2021
CONTENTS
Page
Balance Sheet3
Notes To The Accounts4

Acretown Limited

BALANCE SHEET AT 31 July 2021
20212020
Notes££
FIXED ASSETS
Tangible assets22,189,5922,061,866
CURRENT ASSETS
Debtors483,82972,444
Cash at bank and in hand200,968284,504
284,797356,948
CREDITORS: Amounts falling due within one year5156,491146,280
NET CURRENT ASSETS128,306210,668
TOTAL ASSETS LESS CURRENT LIABILITIES2,317,8982,272,534
CREDITORS: Amounts falling due after more than one year61,110,0001,140,000
PROVISIONS FOR LIABILITIES AND CHARGES98,3258,325
NET ASSETS1,199,5731,124,209
CAPITAL AND RESERVES
Called up share capital1022
Revaluation reserve1c,11373,590373,590
Profit and loss account825,981750,617
SHAREHOLDERS' FUNDS1,199,5731,124,209
For the year ending 31 July 2021 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 13 September 2022 and signed on their behalf by
.............................
D K Court
Director

Acretown Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2021
1. ACCOUNTING POLICIES
1a. Basis Of Accounting FRS 1021 a
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
1b. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1c. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 11).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
1d. Turnover
Turnover represents the value of rents receivable, net of Value Added Tax.

Acretown Limited

2. TANGIBLE FIXED ASSETS
Cost
At 31 July 2021
Depreciation
At 31 July 2021
Net Book Amounts
At 31 July 2021
3. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 August 20202,061,8662,061,866
Additions127,726127,726
At 31 July 20212,189,5922,189,592
The investment properties were valued on an open market basis on 31 July 2021 by the directors.
If the investment properties had not been revalued they would have been included at an historical cost value of £1,797,676 (2020: £1,669,950).
4. DEBTORS 20212020
££
Amounts falling due within one year
VAT14,572-
Other debtors300300
Prepayments24,77527,962
Loans38,61938,619
Directors current account3,2103,210
81,47670,091

Acretown Limited

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20212020
££
UK corporation tax44,91027,233
VAT-6,389
Directors current account1,3341,050
Bank Loan30,00030,000
Other creditors65,46265,462
Accruals5,1696,530
Deferred income9,6169,616
156,491146,280
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20212020
££
Bank loans1,110,0001,140,000
1,110,0001,140,000
7. SECURED CREDITORS
20212020
££
Amount of bank loans and overdrafts which are secured1,140,0001,170,000
The loan from Hampden & Co PLC is secured by means of a standard security over all of the assets of the company.
8. EMPLOYEES
20212020
No.No.
Average number of employees22

Acretown Limited

9. PROVISIONS FOR LIABILITIES 20212020
££
Deferred taxation8,3258,325
8,3258,325
10. SHARE CAPITAL 20212020
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
11. REVALUATION RESERVE 20212020
££
Revaluation reserve373,590373,590
373,590373,590