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REGISTERED NUMBER: 01141767 (England and Wales)
















ACRE PRODUCTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022






ACRE PRODUCTS LIMITED (REGISTERED NUMBER: 01141767)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACRE PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2022







DIRECTORS: R S Smallwood
A C Smallwood
D M Smallwood





SECRETARY: A C Smallwood





REGISTERED OFFICE: Dalton Lane
Keighley
Bradford
West Yorkshire
BD21 4JH





REGISTERED NUMBER: 01141767 (England and Wales)





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

ACRE PRODUCTS LIMITED (REGISTERED NUMBER: 01141767)

BALANCE SHEET
31 JANUARY 2022

2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 51,133 43,567
Investments 5 517,345 517,345
Investment property 6 5,093,690 5,971,548
5,662,168 6,532,460

CURRENT ASSETS
Debtors 7 1,079,691 1,140,096
Investments 8 - 733,328
Cash at bank and in hand 2,776,634 568,929
3,856,325 2,442,353
CREDITORS
Amounts falling due within one year 9 946,338 1,007,554
NET CURRENT ASSETS 2,909,987 1,434,799
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,572,155

7,967,259

PROVISIONS FOR LIABILITIES 111,316 82,070
NET ASSETS 8,460,839 7,885,189

CAPITAL AND RESERVES
Called up share capital 238,749 238,749
Share premium 4,013 4,013
Capital redemption reserve 52,496 52,496
Retained earnings 8,165,581 7,589,931
SHAREHOLDERS' FUNDS 8,460,839 7,885,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 LIMITED (REGISTERED NUMBER: 01141767)

BALANCE SHEET - continued
31 JANUARY 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 LIMITED (REGISTERED NUMBER: 01141767)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1. STATUTORY INFORMATION

Acre Products Limited is a private company limited by shares incorporated in England, United Kingdom. The address of the registered office is given in the company information on page 1.

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 as modified by the revaluation of certain assets.

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 judgement:

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 into 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


ACRE PRODUCTS LIMITED (REGISTERED NUMBER: 01141767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

2. ACCOUNTING POLICIES - continued
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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 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 8 (2021 - 8 ) .

ACRE PRODUCTS LIMITED (REGISTERED NUMBER: 01141767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 February 2021 512,837
Additions 17,157
At 31 January 2022 529,994
DEPRECIATION
At 1 February 2021 469,270
Charge for year 9,591
At 31 January 2022 478,861
NET BOOK VALUE
At 31 January 2022 51,133
At 31 January 2021 43,567

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 February 2021
and 31 January 2022 517,345
NET BOOK VALUE
At 31 January 2022 517,345
At 31 January 2021 517,345

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 February 2021 5,971,548
Additions 5,663
Disposals (883,521 )
At 31 January 2022 5,093,690
NET BOOK VALUE
At 31 January 2022 5,093,690
At 31 January 2021 5,971,548

Investment property is accounted for using the fair value model, the Directors' have assessed the Investment property value as at 31 January 2021 and are of the opinion that the current carrying value is appropriate.

ACRE PRODUCTS LIMITED (REGISTERED NUMBER: 01141767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

6. INVESTMENT PROPERTY - continued

Fair value at 31 January 2022 is represented by:
£
Cost 5,093,690

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors 24,619 76,236
Other debtors 1,055,072 1,063,860
1,079,691 1,140,096

8. CURRENT ASSET INVESTMENTS
2022 2021
£ £
Joint arrangement: property - 733,328

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade creditors 15,506 28,094
Taxation and social security 147,004 195,576
Other creditors 783,828 783,884
946,338 1,007,554