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Company No: 14469938 (England and Wales)

ACORN HOLIDAY LETS (SW) LIMITED

Unaudited Financial Statements
For the financial period from 08 November 2022 to 30 November 2023
Pages for filing with the registrar

ACORN HOLIDAY LETS (SW) LIMITED

Unaudited Financial Statements

For the financial period from 08 November 2022 to 30 November 2023

Contents

ACORN HOLIDAY LETS (SW) LIMITED

BALANCE SHEET

As at 30 November 2023
ACORN HOLIDAY LETS (SW) LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 30.11.2023
£
Fixed assets
Tangible assets 3 40,427
40,427
Current assets
Debtors 4 41,325
Cash at bank and in hand 168
41,493
Creditors: amounts falling due within one year 5 ( 78,724)
Net current liabilities (37,231)
Total assets less current liabilities 3,196
Provision for liabilities ( 774)
Net assets 2,422
Capital and reserves
Called-up share capital 6 100
Profit and loss account 2,322
Total shareholders' funds 2,422

For the financial period ending 30 November 2023 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 Holiday Lets (SW) Limited (registered number: 14469938) were approved and authorised for issue by the Board of Directors on 29 August 2024. They were signed on its behalf by:

M P Thomas
Director
ACORN HOLIDAY LETS (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 November 2022 to 30 November 2023
ACORN HOLIDAY LETS (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 November 2022 to 30 November 2023
1. Accounting policies

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

General information and basis of accounting

Acorn Holiday Lets (SW) 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 40 Kingston House 1 Kingston Road, Taunton, TA2 7ED, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net current liabilities of £37,231. The Company is supported through loans from the companies in which the director has an interest of at least 50% and has significant influence over. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the companies will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period has been extended to 30 November to align the year end with companies under common control.

Turnover

Turnover is recognised at the fair value of the consideration received for rent receivable in the normal course of business.

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

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

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:

Leasehold improvements 10 years straight line

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
08.11.2022 to
30.11.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 3

3. Tangible assets

Leasehold improve-
ments
Total
£ £
Cost
At 08 November 2022 0 0
Additions 41,864 41,864
At 30 November 2023 41,864 41,864
Accumulated depreciation
At 08 November 2022 0 0
Charge for the financial period 1,437 1,437
At 30 November 2023 1,437 1,437
Net book value
At 30 November 2023 40,427 40,427

4. Debtors

30.11.2023
£
Other debtors 41,325

5. Creditors: amounts falling due within one year

30.11.2023
£
Trade creditors 16,450
Other taxation and social security 1,720
Other creditors 60,554
78,724

6. Called-up share capital

30.11.2023
£
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50
50 B ordinary shares of £ 1.00 each 50
100

7. Related party transactions

Other related party transactions

During the year the company entered into a number of transactions with other companies in which Mr M P Thomas (director) has a direct or indirect interest of at least 50% and has significant influence. At the year end there are amounts included in other debtors of £40,525 and other creditors of £32,130 in connection with these transactions.