Acorn SW. Ltd 10724094 false 2023-04-01 2024-06-30 2024-06-30 The principal activity of the company is Development of and selling real estate Digita Accounts Production Advanced 6.30.9574.0 true true 10724094 2023-04-01 2024-06-30 10724094 2024-06-30 10724094 bus:OrdinaryShareClass1 2024-06-30 10724094 core:CurrentFinancialInstruments 2024-06-30 10724094 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10724094 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 10724094 bus:SmallEntities 2023-04-01 2024-06-30 10724094 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-06-30 10724094 bus:AbridgedAccounts 2023-04-01 2024-06-30 10724094 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-06-30 10724094 bus:RegisteredOffice 2023-04-01 2024-06-30 10724094 bus:CompanySecretaryDirector1 2023-04-01 2024-06-30 10724094 bus:Director1 2023-04-01 2024-06-30 10724094 bus:Director2 2023-04-01 2024-06-30 10724094 bus:Director4 2023-04-01 2024-06-30 10724094 bus:OrdinaryShareClass1 2023-04-01 2024-06-30 10724094 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-06-30 10724094 countries:England 2023-04-01 2024-06-30 10724094 2022-04-01 2023-03-31 10724094 2023-03-31 10724094 bus:OrdinaryShareClass1 2023-03-31 10724094 core:CurrentFinancialInstruments 2023-03-31 10724094 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10724094 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10724094

Acorn SW. Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Period from 1 April 2023 to 30 June 2024

 

Acorn SW. Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Acorn SW. Ltd

Company Information

Directors

Mr AP Davis

Mrs CS Newton

Mr P Newton

Mrs L Davis

Company secretary

Mr P Newton

Registered office

Higher Coney House
Sydenham Damerel
Tavistock
Devon
PL19 8PU

Accountants

Harland Accountants
Ground Floor, Unit 3 Southview House
St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

 

Acorn SW. Ltd

(Registration number: 10724094)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

-

549,075

Debtors

8,323

19,480

Cash at bank and in hand

 

335,919

31,373

 

344,242

599,928

Prepayments and accrued income

 

-

208,818

Creditors: Amounts falling due within one year

(3,382)

(75,318)

Total assets less current liabilities

 

340,860

733,428

Creditors: Amounts falling due after more than one year

-

(306,441)

Accruals and deferred income

 

-

(12,164)

Net assets

 

340,860

414,823

Capital and reserves

 

Called up share capital

5

40

40

Retained earnings

340,820

414,783

Shareholders' funds

 

340,860

414,823

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Acorn SW. Ltd

(Registration number: 10724094)
Abridged Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 26 July 2024 and signed on its behalf by:
 

.........................................

Mr AP Davis

Director

.........................................

Mr P Newton

Company secretary and director

 

Acorn SW. Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The company ceased trading on the 30 June 2024 and will appoint an insolvency practitioner to wind the company up via a members voluntary liquidation.

The address of its registered office is:
Higher Coney House
Sydenham Damerel
Tavistock
Devon
PL19 8PU
England

These financial statements were authorised for issue by the Board on 26 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Acorn SW. Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2023 to 30 June 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Acorn SW. Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2023 to 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4 (2023 - 4).

 

Acorn SW. Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2023 to 30 June 2024

4

Stocks

2024
£

2023
£

Work in progress

-

384,275

Other inventories

-

164,800

-

549,075

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 of £1 each

40

40

40

40