Company registration number 10877912 (England and Wales)
ACORN MED LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
ACORN MED LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ACORN MED LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,898
4,852
Current assets
Debtors
4
-
0
899
Cash at bank and in hand
374
204
374
1,103
Creditors: amounts falling due within one year
5
(21,862)
(20,535)
Net current liabilities
(21,488)
(19,432)
Net liabilities
(17,590)
(14,580)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(17,591)
(14,581)
Total equity
(17,590)
(14,580)

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

The financial statements were approved and signed by the director and authorised for issue on 27 November 2023
A Windsor
Director
Company registration number 10877912 (England and Wales)
ACORN MED LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
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 convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director hatrues a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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:

Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
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.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Leases
ACORN MED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.8
Company information

Acorn Med Limited is a private company limited by shares incorporated in England and Wales. The registered office is Capital House, 272 Manchester Road, Droylsden, Manchester, M43 6PW.

2
Employees

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

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022
1,845
1,485
7,999
11,329
Additions
-
0
125
-
0
125
At 31 July 2023
1,845
1,610
7,999
11,454
Depreciation and impairment
At 1 August 2022
1,026
826
4,625
6,477
Depreciation charged in the year
123
112
844
1,079
At 31 July 2023
1,149
938
5,469
7,556
Carrying amount
At 31 July 2023
696
672
2,530
3,898
At 31 July 2022
819
659
3,374
4,852
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
899
ACORN MED LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
20,362
19,335
Accruals and deferred income
1,500
1,200
21,862
20,535
6
Operating lease commitments
Lessee
2023-07-312022-08-01false28 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityA WindsorA Windsorfalse108779122022-08-012023-07-31108779122023-07-31108779122022-07-3110877912core:PlantMachinery2023-07-3110877912core:FurnitureFittings2023-07-3110877912core:MotorVehicles2023-07-3110877912core:PlantMachinery2022-07-3110877912core:FurnitureFittings2022-07-3110877912core:MotorVehicles2022-07-3110877912core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3110877912core:CurrentFinancialInstrumentscore:WithinOneYear2022-07-3110877912core:CurrentFinancialInstruments2023-07-3110877912core:CurrentFinancialInstruments2022-07-3110877912core:ShareCapital2023-07-3110877912core:ShareCapital2022-07-3110877912core:RetainedEarningsAccumulatedLosses2023-07-3110877912core:RetainedEarningsAccumulatedLosses2022-07-3110877912bus:CompanySecretaryDirector12022-08-012023-07-3110877912core:PlantMachinery2022-08-012023-07-3110877912core:FurnitureFittings2022-08-012023-07-3110877912core:MotorVehicles2022-08-012023-07-31108779122021-08-012022-07-3110877912core:PlantMachinery2022-07-3110877912core:FurnitureFittings2022-07-3110877912core:MotorVehicles2022-07-31108779122022-07-3110877912bus:PrivateLimitedCompanyLtd2022-08-012023-07-3110877912bus:SmallCompaniesRegimeForAccounts2022-08-012023-07-3110877912bus:FRS1022022-08-012023-07-3110877912bus:AuditExemptWithAccountantsReport2022-08-012023-07-3110877912bus:Director12022-08-012023-07-3110877912bus:CompanySecretary12022-08-012023-07-3110877912bus:FullAccounts2022-08-012023-07-31xbrli:purexbrli:sharesiso4217:GBP