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Registration number: 09460376

Acquiro SW Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Acquiro SW Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

Acquiro SW Limited

Company Information

Directors

Mr N A Churchill

Hon AJ Lopes

Company secretary

Mr N A Churchill

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Acquiro SW Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Acquiro SW Limited for the year ended 28 February 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Acquiro SW Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Acquiro SW Limited and state those matters that we have agreed to state to the Board of Directors of Acquiro SW Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Acquiro SW Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Acquiro SW Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Acquiro SW Limited. You consider that Acquiro SW Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Acquiro SW Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

16 November 2023

 

Acquiro SW Limited

(Registration number: 09460376)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,403

3,204

Current assets

 

Stocks

5

34,860

3,090

Debtors

6

260

1,417

Cash at bank and in hand

 

377

795

 

35,497

5,302

Creditors: Amounts falling due within one year

7

(58,067)

(26,508)

Net current liabilities

 

(22,570)

(21,206)

Total assets less current liabilities

 

(20,167)

(18,002)

Provisions for liabilities

-

(609)

Net liabilities

 

(20,167)

(18,611)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(20,169)

(18,613)

Shareholders' deficit

 

(20,167)

(18,611)

 

Acquiro SW Limited

(Registration number: 09460376)
Balance Sheet as at 28 February 2023

For the financial year ending 28 February 2023 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 November 2023 and signed on its behalf by:
 

.........................................

Mr N A Churchill

Company secretary and director

 

Acquiro SW Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis as the directors will continue funding the company until it can make further sales.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date 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 they will be recovered against the reversal of deferred tax liabilities. Unrelieved tax losses and other deferred tax assets are not recognised as recoverable against other future taxable profits unless there is a high degree of probability of this occurring.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Acquiro SW Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Stocks

Work in progress is stated at the lower of costs incurred in the purchase of land plus the various costs incurred in obtaining the relevant planning permissions, and the estimated selling price of the land less associated costs.

At each reporting date, work in progress is assessed for impairment. If work in progress is impaired the carrying amount is reduced to its selling price less costs to complete and sell, and the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

7,595

7,595

At 28 February 2023

7,595

7,595

Depreciation

At 1 March 2022

4,391

4,391

Charge for the year

801

801

At 28 February 2023

5,192

5,192

Carrying amount

At 28 February 2023

2,403

2,403

At 28 February 2022

3,204

3,204

 

Acquiro SW Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Stocks

2023
£

2022
£

Work in progress

34,860

3,090

6

Debtors

2023
£

2022
£

Other debtors

260

1,417

260

1,417

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

804

1,276

Accruals and deferred income

1,525

1,386

Other creditors

55,738

23,846

58,067

26,508