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REGISTERED NUMBER: 09560859 (England and Wales)
















ACRE PRODUCTS (DEVELOPMENTS) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022






ACRE PRODUCTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 09560859)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACRE PRODUCTS (DEVELOPMENTS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2022







DIRECTORS: R S Smallwood
D M Smallwood
A C Smallwood



REGISTERED OFFICE: Acre Park
Dalton Lane
Keighley
West Yorkshire
BD21 4JH



REGISTERED NUMBER: 09560859 (England and Wales)



ACCOUNTANTS: BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY



BANKERS: Barclays Bank plc
Leicestershire
Leicester
LE87 2BB

ACRE PRODUCTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 09560859)

BALANCE SHEET
30 APRIL 2022

2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 40,380 27,490

CURRENT ASSETS
Stocks 370,000 1,358,290
Debtors 5 20,835 49,300
Cash at bank and in hand 1,471,490 1,205,041
1,862,325 2,612,631
CREDITORS
Amounts falling due within one year 6 1,165,335 1,544,117
NET CURRENT ASSETS 696,990 1,068,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

737,370

1,096,004

CREDITORS
Amounts falling due after more than one
year

7

-

(477,263

)

PROVISIONS FOR LIABILITIES (10,095 ) (5,223 )
NET ASSETS 727,275 613,518

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 726,975 613,218
SHAREHOLDERS' FUNDS 727,275 613,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

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.

ACRE PRODUCTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 09560859)

BALANCE SHEET - continued
30 APRIL 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2022 and were signed on its behalf by:





D M Smallwood - Director


ACRE PRODUCTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 09560859)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

1. STATUTORY INFORMATION

Acre Products (Developments) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound (£).

Significant judgements and estimates
The preparation of financial statements in compliance with FRS 102 section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

In preparing these financial statements, the director has had to make the following judgements and estimates:

Tangible Fixed Assets

Tangible fixed assets are depreciated over their useful lives which are assessed annually by the directors.

In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken in to account.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as ‘Deferred income’ and included as part of ‘Creditors due within one year’.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Stocks
Stock represents costs incurred on building projects which were not completed at the year end date.

ACRE PRODUCTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 09560859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at the transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 May 2021 60,473
Additions 18,700
At 30 April 2022 79,173
DEPRECIATION
At 1 May 2021 32,983
Charge for year 5,810
At 30 April 2022 38,793
NET BOOK VALUE
At 30 April 2022 40,380
At 30 April 2021 27,490

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors - 3,600
Other debtors 20,835 45,700
20,835 49,300

ACRE PRODUCTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 09560859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade creditors 32,053 93,029
Taxation and social security 74,734 163,095
Other creditors 1,058,548 1,287,993
1,165,335 1,544,117

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£ £
Other creditors - 477,263

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£ £
Loans - 687,831

Included in other creditors is the amount of nil (2021: £477,263) which is secured on the land and buildings being developed.