REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements |
for the Year Ended 30 April 2024 |
for |
Acorn Fire & Security Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements |
for the Year Ended 30 April 2024 |
for |
Acorn Fire & Security Limited |
Acorn Fire & Security Limited (Registered number: 04421576) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 4 |
Report of the Independent Auditors | 7 |
Income Statement | 10 |
Other Comprehensive Income | 11 |
Balance Sheet | 12 |
Statement of Changes in Equity | 13 |
Cash Flow Statement | 14 |
Notes to the Cash Flow Statement | 15 |
Notes to the Financial Statements | 16 |
Acorn Fire & Security Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Citygate |
Longridge Road |
Preston |
Lancashire |
PR2 5BQ |
Acorn Fire & Security Limited (Registered number: 04421576) |
Strategic Report |
for the Year Ended 30 April 2024 |
The directors present their strategic report for the year ended 30 April 2024. |
Within this review our aim is to present a true and fair view, with a balanced and comprehensive outline of the development and performance of the business during the year and its position at the year end. The review is consistent with the size of the business and is written in the context of the current economic climate. |
REVIEW OF BUSINESS |
With over 22 years of history and heritage, Acorn Fire & Security has grown into a global business, with a strong brand identity and very much appreciated Client loyalty within both the UK and Worldwide Fire and Security Industry sectors. An absolute belief in providing nothing other than first class customer service, combined with a broad and ever increasing range of Industry and technologically advanced leading manufacturers equipment, backed by both on, and off-site Support, facilitates continued growth in all related Industry markets, Land and Marine. |
Continued professional development, training, and product awareness across the whole Team, backed by the implementation and continued evolution of a strong management layer, enables the company to achieve and deliver its objectives. |
Again, we have redefined and have started to deliver a new, purpose-driven five-year strategy that will position us for sustainable growth and success and take us up to, and beyond, our 25th anniversary in 2027. The strategy is our blueprint for achieving long-term business growth by pursuing our passion and purpose to support, advise and involve Fire and Security professionals throughout their career, based upon a "cradle to grave" approach. |
Our purpose isn't a slogan; it's what drives us. This means not only providing outstanding service to our clientele, but also offering them a wide choice across a diverse range of products and services that are recognisably in line with the heritage and value expected from the Acorn Fire & Security name. |
The Directors are pleased to note that despite winning two Major Projects in the 2022-2023 fiscal year, the business has again performed extremely well over the last financial year, once again returning strong and above average year-on-year growth. |
The key financial performance indicators monitored by management are set out below: |
Turnover |
Debtors |
Operating Profit |
Stock Level |
Net Assets |
Cash |
These are monitored on a weekly basis, with any corrective actions taken as necessary. |
Other key performance indicators: |
In addition, non-financial KPI's are: |
Delivering the highest standard of Client service |
Employee engagement, wellbeing and belonging |
Continued development across the board |
Continued strengthening and upskill of the management team |
Acorn Fire & Security Limited (Registered number: 04421576) |
Strategic Report |
for the Year Ended 30 April 2024 |
PRINCIPAL RISKS AND UNCERTAINTIES |
The company's activities expose it to a number of financial risks, including credit, currency and liquidity risks. The Board has identified the following risk factors, any of which could potentially impact results for the year to 30th of April 2024: |
o Owing to the war in Ukraine we have ceased all trading with our Russian Clients and are very much aware of the potential for "sell-on's" in bordering countries. All enquires are thoroughly vetted with regular cross references to entities and individual Sanctions listing. |
o Supply chains continue to be stretched with certification delays owing to component substitution, with many components also having short supply with extended lead times. We have mitigated this through a much increased stock hold, and we will continue with this action to safeguard supply and customer delivery timescales. |
o The company's principal foreign currency exposures arise from trading with overseas companies. Company policy deems all transaction to be in GBP sterling only, in order to hedge any potential risk. |
o Credit risk is primarily attributable to its trade and intercompany receivables and is managed through maintaining strong Client and counterparty relationships, with the constant monitoring of credit levels and settlement periods. |
Being one of the largest players in this specialised sector, we remain acutely aware of the risks from competitive threat. Our product offering is broad, well respected and ever evolving, we have spent many years leading and developing the market, creating an immensely strong pedigree, supported by highly respected brands and a recognised technological and market leading position in the global fire and security market. In addition, the forward-thinking strategy lays out the plan to consistently update the existing product range offering and to expand on market reach and commercial potential. |
The Company enjoys an ever increasing, well established, long term, and loyal Client base; accordingly, we consider the Company to be well positioned for the future. |
ON BEHALF OF THE BOARD: |
9 September 2024 |
Acorn Fire & Security Limited (Registered number: 04421576) |
Report of the Directors |
for the Year Ended 30 April 2024 |
The directors present their report with the financial statements of the company for the year ended 30 April 2024. |
The Board confirms that these, taken as a whole, are fair, balanced and understandable, and that they provide the necessary information to assess the Company's position and performance, business model and strategy, and that the narrative sections of the report are consistent with the financial statements and accurately reflect the Company's performance and financial position. |
The Strategic Report provides information relating to the Company's activities, its business and strategy and the principal risks and uncertainties faced by the business, including analysis using financial and other KPIs where necessary. |
DIVIDENDS |
The company paid total interim dividends during the year amounting to £140,000 (2022: £164,000). |
The directors recommend that no final dividend be paid. |
RESEARCH AND DEVELOPMENT |
Investment in R&D |
We have continued to invest in product research and new products in line with, and above, the relevant standards, constantly searching for new technologies that can be introduced into the industry. Strengthening our relationships with, and working closely with manufacturers on new product development and improvement to both hardware and software environments. This investment coupled with a forward-thinking product implementation roadmap continues to build firm foundations for a range of new product introductions from which increased future revenues will be generated, whilst meeting the future technological needs of our valued Clients. |
Investment in people and processes |
The Company has continued to invest in its people at all levels; this together with the adoption of clearly defined strategies and regular performance reviews, is facilitating continued development, including key staff upskilling and planned Team growth. Key functions will continue to strengthen over the next twelve months. We aim to provide an environment in which our employees can reach their full potential in both life and business, providing opportunities to develop and gain new experiences. The Company is confident that this continued development will add to the existing core strengths and success of the business and its people. |
The Directors as always, would like to sincerely thank all the staff, as without their significant, always positive contribution, these results would not be possible. |
Investment in premises and facilities |
Building on the single site operation whilst improving Client delivery speed and efficiencies, further investment into additional Warehousing has been made, facilitating a larger stock hold, to better mitigate impacts from any further key component shortages, certification delays or supply chain disruptions. Ensuring that the expectations and future needs of our clients are met and over delivered, whilst allowing the business to continue to expand and grow over the next few years under the same roof space. |
FUTURE DEVELOPMENTS |
The business continues to investigate, innovate and develop new product offering, whilst reviewing geographical presence in existing and new markets, both in the UK and internationally. Whilst organic growth via a first class Client offering is the strategic priority, this could be enhanced through selective and highly strategic acquisitions of similar ethical and dynamic operations. |
Acorn Fire & Security Limited (Registered number: 04421576) |
Report of the Directors |
for the Year Ended 30 April 2024 |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report. |
HEALTH & SAFETY |
A proactive approach, risk assessments, an all inclusive and open-door policy are key features of the business, with any concerns or suggestions for improvement being encouraged to bring them to the attention of colleagues and management alike. Each is evaluated, with improvements implemented wherever possible or practical. |
ENVIRONMENTAL RESPONSIBILITIES |
In line with the Businesses ISO14001 certification, constant innovation and solutions are sought and explored for reducing any Environmental impacts wherever possible on an ongoing basis. The Company takes all it's obligations seriously, but also views them as a series of opportunities on many levels. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
Acorn Fire & Security Limited (Registered number: 04421576) |
Report of the Directors |
for the Year Ended 30 April 2024 |
AUDITORS |
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Acorn Fire & Security Limited |
Opinion |
We have audited the financial statements of Acorn Fire & Security Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Report of the Independent Auditors to the Members of |
Acorn Fire & Security Limited |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Acorn Fire & Security Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
We evaluated management's incentives and opportunities for over-riding controls and therefore manipulation of the financial statements. We concluded that the risk was low. Our audit procedures in this respect carried out by the audit team included: |
- Discussions with management including consideration of any known or suspected instances of non-compliance with laws and regulations and fraud; |
- Evaluating management's controls designed to prevent and detect any irregularities; |
- Review and testing of journal entries, in particular journal adjustments on or around the year-end; and |
- Review and challenging judgements made by management concerning significant accounting estimates. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Citygate |
Longridge Road |
Preston |
Lancashire |
PR2 5BQ |
Acorn Fire & Security Limited (Registered number: 04421576) |
Income Statement |
for the Year Ended 30 April 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,686,993 | 2,357,136 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 5 |
PROFIT FOR THE FINANCIAL YEAR |
Acorn Fire & Security Limited (Registered number: 04421576) |
Other Comprehensive Income |
for the Year Ended 30 April 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Acorn Fire & Security Limited (Registered number: 04421576) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 7 |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 13 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 14 |
Retained earnings | 15 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Acorn Fire & Security Limited (Registered number: 04421576) |
Statement of Changes in Equity |
for the Year Ended 30 April 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 May 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 April 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 April 2024 |
Acorn Fire & Security Limited (Registered number: 04421576) |
Cash Flow Statement |
for the Year Ended 30 April 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of intangible fixed assets | ( |
) | ( |
) |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of intangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) |
Cash flows from financing activities |
Amount introduced by directors | 148,737 | 167,814 |
Amount withdrawn by directors | (158,447 | ) | (206,575 | ) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
3,075,986 |
Cash and cash equivalents at end of year |
2 |
5,219,911 |
4,490,525 |
Acorn Fire & Security Limited (Registered number: 04421576) |
Notes to the Cash Flow Statement |
for the Year Ended 30 April 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit before taxation |
Depreciation charges |
Loss on disposal of fixed assets |
Finance income | (92,994 | ) | (20,995 | ) |
1,705,170 | 2,393,714 |
Decrease/(increase) in stocks | ( |
) |
Increase in trade and other debtors | ( |
) | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 April 2024 |
30.4.24 | 1.5.23 |
£ | £ |
Cash and cash equivalents | 5,219,911 | 4,490,525 |
Year ended 30 April 2023 |
30.4.23 | 1.5.22 |
£ | £ |
Cash and cash equivalents | 4,490,525 | 3,075,986 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.5.23 | Cash flow | At 30.4.24 |
£ | £ | £ |
Net cash |
Cash at bank | 4,490,525 | 729,386 | 5,219,911 |
4,490,525 | 5,219,911 |
Total | 4,490,525 | 729,386 | 5,219,911 |
Acorn Fire & Security Limited (Registered number: 04421576) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Acorn Fire & Security Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Leasehold improvements | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 balance sheet date. |
Acorn Fire & Security Limited (Registered number: 04421576) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Directors | 2 | 2 |
Sales | 9 | 9 |
Accounts | 3 | 2 |
Marketing | 3 | 3 |
Stores | 2 | 2 |
Operations | 3 | 3 |
Other | 1 | 1 |
2024 | 2023 |
£ | £ |
Directors' remuneration |
Acorn Fire & Security Limited (Registered number: 04421576) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
Loss on disposal of fixed assets |
Auditors' remuneration |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | ( |
) | ( |
) |
Deferred tax | 4,475 | 1,914 |
Total tax charge | 442,501 | 468,584 |
6. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary A share of £1 |
Interim |
Acorn Fire & Security Limited (Registered number: 04421576) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
7. | INTANGIBLE FIXED ASSETS |
Website |
£ |
COST |
Additions |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
8. | TANGIBLE FIXED ASSETS |
Asset |
under | Leasehold | Plant and |
construction | improvements | machinery |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Acorn Fire & Security Limited (Registered number: 04421576) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
8. | TANGIBLE FIXED ASSETS - continued |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
9. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Other loans | 1,000,000 | 600,000 |
VAT |
Prepayments and accrued income |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 1,883 | 11,593 |
Deferred income |
Accrued expenses |
Acorn Fire & Security Limited (Registered number: 04421576) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
12. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
13. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 12,186 | 7,711 |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Provided during year |
Balance at 30 April 2024 |
14. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 1 | 1 |
Ordinary B Shares | £1 | 3 | 3 |
4 | 4 |
15. | RESERVES |
Retained |
earnings |
£ |
At 1 May 2023 |
Profit for the year |
Dividends | ( |
) |
At 30 April 2024 |
Acorn Fire & Security Limited (Registered number: 04421576) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
16. | RELATED PARTY DISCLOSURES |
The directors of Acorn Fire & Security Ltd, D Grice and D Williams, are also both directors of Acorn Commercial Holdings Ltd. |
During the year, Acorn Fire & Security Ltd paid rent and service charges of £50,286 (2023: £50,286) to Acorn Commercial Holdings Ltd. |
There is a loan of £1,000,000 owing from Acorn Commercial Holdings Ltd at the end of the year (2023: £600,000). |