REGISTERED NUMBER: |
ACRE PRODUCTS (DEVELOPMENTS) LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Glenewes House |
Gate Way Drive |
Leeds |
West Yorkshire |
LS19 7XY |
BANKERS: |
Leicestershire |
Leicester |
LE87 2BB |
ACRE PRODUCTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 09560859) |
BALANCE SHEET |
30 APRIL 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2021 |
Additions |
At 30 April 2022 |
DEPRECIATION |
At 1 May 2021 |
Charge for year |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
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 |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
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. |