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Company No: 01356560 (England and Wales)

ACORN CLASSICS HOUSE LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ACORN CLASSICS HOUSE LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ACORN CLASSICS HOUSE LIMITED

BALANCE SHEET

As at 30 April 2024
ACORN CLASSICS HOUSE LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 74,569 74,937
Investment property 4 15,000 15,000
Investments 5 3,782,994 3,016,188
3,872,563 3,106,125
Current assets
Debtors 6 484,813 1,455,212
Cash at bank and in hand 4,945 6,809
489,758 1,462,021
Creditors: amounts falling due within one year 7 ( 588,597) ( 849,314)
Net current (liabilities)/assets (98,839) 612,707
Total assets less current liabilities 3,773,724 3,718,832
Net assets 3,773,724 3,718,832
Capital and reserves
Called-up share capital 33,000 33,000
Fair value reserve 613,536 613,536
Profit and loss account 3,127,188 3,072,296
Total shareholders' funds 3,773,724 3,718,832

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Acorn Classics House Limited (registered number: 01356560) were approved and authorised for issue by the Board of Directors on 31 July 2024. They were signed on its behalf by:

J P T Hunt
Director
ACORN CLASSICS HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ACORN CLASSICS HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Acorn Classics House Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 May 2023 72,000 22,300 94,300
At 30 April 2024 72,000 22,300 94,300
Accumulated depreciation
At 01 May 2023 0 19,363 19,363
Charge for the financial year 0 368 368
At 30 April 2024 0 19,731 19,731
Net book value
At 30 April 2024 72,000 2,569 74,569
At 30 April 2023 72,000 2,937 74,937

4. Investment property

Investment property
£
Valuation
As at 01 May 2023 15,000
As at 30 April 2024 15,000

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 3,016,188 3,016,188
Additions 1,343,909 1,343,909
Disposals ( 736,634) ( 736,634)
Movement in fair value 159,531 159,531
At 30 April 2024 3,782,995 3,782,995
Carrying value at 30 April 2024 3,782,994 3,782,994
Carrying value at 30 April 2023 3,016,188 3,016,188

6. Debtors

2024 2023
£ £
Other debtors 484,813 1,455,212

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 1,648 242,070
Other creditors 586,949 607,244
588,597 849,314