IRIS Accounts Production v23.4.0.336 09272496 Board of Directors 1.11.22 31.10.23 31.10.23 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh092724962022-10-31092724962023-10-31092724962022-11-012023-10-31092724962021-10-31092724962021-11-012022-10-31092724962022-10-3109272496ns15:EnglandWales2022-11-012023-10-3109272496ns14:PoundSterling2022-11-012023-10-3109272496ns10:Director12022-11-012023-10-3109272496ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3109272496ns10:SmallEntities2022-11-012023-10-3109272496ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3109272496ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3109272496ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3109272496ns10:FullAccounts2022-11-012023-10-3109272496ns10:Director22022-11-012023-10-3109272496ns10:RegisteredOffice2022-11-012023-10-3109272496ns5:CurrentFinancialInstruments2023-10-3109272496ns5:CurrentFinancialInstruments2022-10-3109272496ns5:ShareCapital2023-10-3109272496ns5:ShareCapital2022-10-3109272496ns5:SharePremium2023-10-3109272496ns5:SharePremium2022-10-3109272496ns5:RetainedEarningsAccumulatedLosses2023-10-3109272496ns5:RetainedEarningsAccumulatedLosses2022-10-3109272496ns5:FurnitureFittings2022-10-3109272496ns5:MotorVehicles2022-10-3109272496ns5:ComputerEquipment2022-10-3109272496ns5:FurnitureFittings2022-11-012023-10-3109272496ns5:MotorVehicles2022-11-012023-10-3109272496ns5:ComputerEquipment2022-11-012023-10-3109272496ns5:FurnitureFittings2023-10-3109272496ns5:MotorVehicles2023-10-3109272496ns5:ComputerEquipment2023-10-3109272496ns5:FurnitureFittings2022-10-3109272496ns5:MotorVehicles2022-10-3109272496ns5:ComputerEquipment2022-10-3109272496ns5:CostValuation2022-10-3109272496ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3109272496ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3109272496ns5:WithinOneYear2023-10-3109272496ns5:WithinOneYear2022-10-3109272496ns5:AcceleratedTaxDepreciationDeferredTax2023-10-3109272496ns5:AcceleratedTaxDepreciationDeferredTax2022-10-3109272496ns5:TaxLossesCarry-forwardsDeferredTax2023-10-3109272496ns5:TaxLossesCarry-forwardsDeferredTax2022-10-3109272496ns5:DeferredTaxation2022-10-3109272496ns5:DeferredTaxation2022-11-012023-10-3109272496ns5:DeferredTaxation2023-10-31
REGISTERED NUMBER: 09272496 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ACORN MONEY LIMITED

ACORN MONEY LIMITED (REGISTERED NUMBER: 09272496)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACORN MONEY LIMITED

COMPANY INFORMATION
for the year ended 31 October 2023







DIRECTORS: C W Greener
R E Greener





REGISTERED OFFICE: Business Central
2 Union Square
Darlington
DL1 1GL





REGISTERED NUMBER: 09272496 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

ACORN MONEY LIMITED (REGISTERED NUMBER: 09272496)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 89,202 120,101
Investments 5 - -
89,202 120,101

CURRENT ASSETS
Debtors 6 29,391 76,933
Cash at bank 5,617 54,738
35,008 131,671
CREDITORS
Amounts falling due within one year 7 (22,417 ) (208,885 )
NET CURRENT ASSETS/(LIABILITIES) 12,591 (77,214 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,793

42,887

PROVISIONS FOR LIABILITIES 9 (22,349 ) (26,660 )
NET ASSETS 79,444 16,227

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Share premium 217,550 217,550
Retained earnings (141,106 ) (204,323 )
SHAREHOLDERS' FUNDS 79,444 16,227

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:




C W Greener - Director


ACORN MONEY LIMITED (REGISTERED NUMBER: 09272496)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2023


1. STATUTORY INFORMATION

Acorn Money Limited is a private company, limited by share capital, registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in Sterling (£), which if the functional and presentational currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Preparation of consolidated financial statements
The financial statements contain information about Acorn Money Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated
impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the
location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures and fittings-15% reducing balance
Computer equipment-33.33% reducing balance
Motor Vehicle-25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are
recognised in profit or loss.

Investments in subsidiaries
Investment in the subsidiary company is held at cost less accumulated impairment losses.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

ACORN MONEY LIMITED (REGISTERED NUMBER: 09272496)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023


2. ACCOUNTING POLICIES - continued

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 13,284 151,365 18,134 182,783
Additions - - 999 999
Disposals (6,483 ) - (15,006 ) (21,489 )
At 31 October 2023 6,801 151,365 4,127 162,293
DEPRECIATION
At 1 November 2022 9,194 37,841 15,647 62,682
Charge for year 307 28,381 703 29,391
Eliminated on disposal (4,441 ) - (14,541 ) (18,982 )
At 31 October 2023 5,060 66,222 1,809 73,091
NET BOOK VALUE
At 31 October 2023 1,741 85,143 2,318 89,202
At 31 October 2022 4,090 113,524 2,487 120,101

ACORN MONEY LIMITED (REGISTERED NUMBER: 09272496)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 273,286
PROVISIONS
At 1 November 2022
and 31 October 2023 273,286
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,479 22,500
Amounts owed by group undertakings - 46,019
Other debtors 25,912 8,414
29,391 76,933

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 44
Taxation and social security 20,440 2,842
Other creditors 1,977 205,999
22,417 208,885

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 4,024

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 22,349 30,025
Tax losses carried forward - (3,365 )
22,349 26,660

ACORN MONEY LIMITED (REGISTERED NUMBER: 09272496)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2023


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2022 26,660
Credit to Profit and Loss Account during year (4,311 )
Balance at 31 October 2023 22,349

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.