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REGISTERED NUMBER: 03883928 (England and Wales)














Back Acre Enterprises Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023






Back Acre Enterprises Limited (Registered number: 03883928)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


Back Acre Enterprises Limited

Company Information
for the Year Ended 30 November 2023







Directors: Mrs S J Wade
Mr J H Bailey





Registered office: Abbey Farm
Nottingham Road
Sedgebrook
Grantham
NG32 2ER





Registered number: 03883928 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Back Acre Enterprises Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Back Acre Enterprises Limited for the year ended 30 November 2023 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Back Acre Enterprises Limited, as a body, in accordance with the terms of our engagement letter dated 2 August 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Back Acre Enterprises Limited and state those matters that we have agreed to state to the Board of Directors of Back Acre Enterprises Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Back Acre Enterprises Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Back Acre Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Back Acre Enterprises Limited. You consider that Back Acre Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Back Acre Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


27 August 2024

Back Acre Enterprises Limited (Registered number: 03883928)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 430,079 390,105

Current assets
Cash at bank 67,048 60,431

Creditors
Amounts falling due within one year 6 8,147 9,431
Net current assets 58,901 51,000
Total assets less current liabilities 488,980 441,105

Creditors
Amounts falling due after more than one
year

7

(40,680

)

(40,680

)

Provisions for liabilities (44,507 ) (36,907 )
Net assets 403,793 363,518

Capital and reserves
Called up share capital 8 150 150
Revaluation reserve 9 259,179 241,686
Retained earnings 144,464 121,682
Shareholders' funds 403,793 363,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Back Acre Enterprises Limited (Registered number: 03883928)

Statement of Financial Position - continued
30 November 2023


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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





Mrs S J Wade - Director


Back Acre Enterprises Limited (Registered number: 03883928)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. Statutory information

Back Acre Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not depreciated
Fixtures and fittings - 25% on reducing balance
Equipment - 25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Back Acre Enterprises Limited (Registered number: 03883928)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments
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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

Back Acre Enterprises Limited (Registered number: 03883928)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


5. Tangible fixed assets
Fixtures
Freehold and
property fittings Equipment Totals
£    £    £    £   
Cost or valuation
At 1 December 2022 390,000 422 2,667 393,089
Revaluations 40,000 - - 40,000
At 30 November 2023 430,000 422 2,667 433,089
Depreciation
At 1 December 2022 - 421 2,563 2,984
Charge for year - - 26 26
At 30 November 2023 - 421 2,589 3,010
Net book value
At 30 November 2023 430,000 1 78 430,079
At 30 November 2022 390,000 1 104 390,105


6. Creditors: amounts falling due within one year
2023 2022
£    £   
Corporation tax 1,853 3,398
Directors' current accounts 4,937 4,733
Accruals and deferred income 1,357 1,300
8,147 9,431

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Long term loan 40,680 40,680

The creditor due after one year relates to a loan made to the company by Mr. J. H. Bailey, who is a director of the company. There are no fixed terms for repayment.

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A shares 1 100 100
50 Ordinary B shares 1 50 50
150 150

Back Acre Enterprises Limited (Registered number: 03883928)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


9. Reserves
Revaluation
reserve
£   
At 1 December 2022 241,686
Additions 40,000
Transfer between reserves (22,507 )

At 30 November 2023 259,179