Company registration number 04475217 (England and Wales)
ACORN LODGE (BOURNEMOUTH) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
ACORN LODGE (BOURNEMOUTH) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ACORN LODGE (BOURNEMOUTH) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
787,687
798,092
Current assets
Debtors
5
2,952
10,508
Cash at bank and in hand
89,276
127,504
92,228
138,012
Creditors: amounts falling due within one year
6
(18,611)
(10,928)
Net current assets
73,617
127,084
Total assets less current liabilities
861,304
925,176
Provisions for liabilities
(13,844)
(16,445)
Net assets
847,460
908,731
Capital and reserves
Called up share capital
7
100
100
Revaluation reserve
39,140
39,140
Profit and loss reserves
808,220
869,491
Total equity
847,460
908,731

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ACORN LODGE (BOURNEMOUTH) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 March 2024 and are signed on its behalf by:
Mr Matthew Druce
Director
Company Registration No. 04475217
ACORN LODGE (BOURNEMOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Acorn Lodge (Bournemouth) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through profit or loss.

1.2
Turnover

The turnover shown in the profit and loss account represents amounts invoiced for services rendered during the year.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
0%
Fixtures and fittings
25% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ACORN LODGE (BOURNEMOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

The estimated residual value of the company's freehold property is in excess of its net book value. It is the company's policy to maintain this property to a high standard, so that the estimated residual value will not be impaired over time. The costs of this maintenance are charged to the profit and loss account as incurred. The directors are of the opinion that any depreciation in respect of the company's freehold property would be immaterial and consequently no provision is made in the accounts for such depreciation.

1.5
Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

1.6
Financial instruments
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.7
Taxation
Current tax

Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
15
16
ACORN LODGE (BOURNEMOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
30,000
Amortisation and impairment
At 1 January 2023 and 31 December 2023
30,000
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost or valuation
At 1 January 2023
750,000
1,558
83,085
834,643
Additions
-
0
2,572
-
0
2,572
Disposals
-
0
(945)
(17,300)
(18,245)
At 31 December 2023
750,000
3,185
65,785
818,970
Depreciation and impairment
At 1 January 2023
-
0
1,313
35,238
36,551
Depreciation charged in the year
-
0
707
11,860
12,567
Eliminated in respect of disposals
-
0
(945)
(16,890)
(17,835)
At 31 December 2023
-
0
1,075
30,208
31,283
Carrying amount
At 31 December 2023
750,000
2,110
35,577
787,687
At 31 December 2022
750,000
245
47,847
798,092

At 31 December 2023 the remaining freehold building was revalued by the company directors, at open market value.

 

In respect of certain fixed asset held at revalued amounts, the comparable historical cost values are as follows:

2023
2022
£
£
Net book value at end of year
750,000
750,000
Historical cost
706,438
706,438
ACORN LODGE (BOURNEMOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,952
10,508
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
8,264
3,667
Other creditors
10,347
7,261
18,611
10,928
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Class A of £1 each
100
98
100
98
Class B of £1 each
-
2
-
2
100
100
100
100
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