Company Registration No. 08766291 (England and Wales)
ACRE 1162 (SHELL T) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ACRE 1162 (SHELL T) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ACRE 1162 (SHELL T) LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
1,225,344
1,064,872
Cash at bank and in hand
96,096
483,908
1,321,440
1,548,780
Creditors: amounts falling due within one year
4
(36,324)
(23,061)
Net current assets
1,285,116
1,525,719
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,285,016
1,525,619
Total equity
1,285,116
1,525,719
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 30 September 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.
The financial statements were approved by the board of directors and authorised for issue on 16 April 2024 and are signed on its behalf by:
G Landesberg
Director
Company Registration No. 08766291
ACRE 1162 (SHELL T) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information
Acre 1162 (Shell T) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.
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
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Fixed asset investments
The company has entered into an LLP agreement with its partners. In accordance with the LLP agreement, the profits of the LLP investment are formally allocated to the members at the end of the financial period in which the profits were generated. The company recognises these profits in its income when formal allocation takes place.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets which include debtors are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
1.5
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ACRE 1162 (SHELL T) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,225,344
1,064,872
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,260
Corporation tax
19,761
Other creditors
30,000
Accruals
5,064
3,300
36,324
23,061
5
Related party transactions
At the year end, the company was owed £5,799 (2022: £108,491) from an LLP in which it holds a participating interest and acts as a member.
At the year end, the company was owed £1,375,130 (2022: £884,376) from companies under common control. At 30 September 2023, there is a provision of £227,045 (2022: £nil) recognised against this balance. At 30 September 2023, the carrying value of these debtors were £1,148,085 (2022: £884,376).
At the year end, the company owed £30,000 (2022: £Nil) to a company under common control.
At the year end, the company was owed £53,931 (2022: £54,476) by a director. During the year, the director was charged interest of £1,139 (2022: £849).