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REGISTERED NUMBER: NI050197 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

ACORN DEVELOPMENTS (NI) LTD

ACORN DEVELOPMENTS (NI) LTD (REGISTERED NUMBER: NI050197)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACORN DEVELOPMENTS (NI) LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr R Alexander
Mr R Alexander
Ms E V Alexander
Ms S Alexander





REGISTERED OFFICE: 28 St. Johns Avenue
Belfast
BT7 3JE





REGISTERED NUMBER: NI050197 (Northern Ireland)





ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

ACORN DEVELOPMENTS (NI) LTD (REGISTERED NUMBER: NI050197)

Balance Sheet
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,288 28,695

CURRENT ASSETS
Stocks 516,573 474,655
Debtors 5 333,377 135,541
Cash at bank 140,828 20,785
990,778 630,981
CREDITORS
Amounts falling due within one year 6 573,198 180,153
NET CURRENT ASSETS 417,580 450,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

468,868

479,523

CREDITORS
Amounts falling due after more than one
year

7

(37,349

)

(30,478

)

PROVISIONS FOR LIABILITIES (8,017 ) (4,003 )
NET ASSETS 423,502 445,042

CAPITAL AND RESERVES
Called up share capital 20 20
Capital redemption reserve 20 20
Retained earnings 423,462 445,002
423,502 445,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

ACORN DEVELOPMENTS (NI) LTD (REGISTERED NUMBER: NI050197)

Balance Sheet - continued
31 MARCH 2023


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 29 March 2024 and were signed on its behalf by:





Mr R Alexander - Director


ACORN DEVELOPMENTS (NI) LTD (REGISTERED NUMBER: NI050197)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Acorn Developments (Ni) Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 25% on reducing balance and 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ACORN DEVELOPMENTS (NI) LTD (REGISTERED NUMBER: NI050197)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 108,160
Additions 42,849
Disposals (16,000 )
At 31 March 2023 135,009
DEPRECIATION
At 1 April 2022 79,465
Charge for year 15,194
Eliminated on disposal (10,938 )
At 31 March 2023 83,721
NET BOOK VALUE
At 31 March 2023 51,288
At 31 March 2022 28,695

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Other debtors 333,377 135,541

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 9,932 12,494
Hire purchase contracts 3,839 1,228
Trade creditors 211,845 57,525
Taxation and social security 46,122 196
Other creditors 301,460 108,710
573,198 180,153

ACORN DEVELOPMENTS (NI) LTD (REGISTERED NUMBER: NI050197)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans 23,273 30,478
Hire purchase contracts 14,076 -
37,349 30,478