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Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Acer Estates Limited

Acer Estates Limited (Registered number: 08119790)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Acer Estates Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: M E Dennis





SECRETARY: Mrs N J Dennis





REGISTERED OFFICE: The Heights
Swissland Hill
Dormans Park
East Grinstead
West Sussex
RH19 2NA





REGISTERED NUMBER: 08119790 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Acer Estates Limited (Registered number: 08119790)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 256 712
Investment property 5 475,000 475,000
475,256 475,712

CURRENT ASSETS
Cash at bank and in hand 9,332 5,245

CREDITORS
Amounts falling due within one year 6 4,934 6,107
NET CURRENT ASSETS/(LIABILITIES) 4,398 (862 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

479,654

474,850

CREDITORS
Amounts falling due after more than one
year

7

(392,243

)

(387,308

)

PROVISIONS FOR LIABILITIES (22,845 ) (22,845 )
NET ASSETS 64,566 64,697

CAPITAL AND RESERVES
Called up share capital 9 2 2
Fair value reserve 10 63,711 63,711
Retained earnings 853 984
SHAREHOLDERS' FUNDS 64,566 64,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 September 2024 and were signed by:



M E Dennis - Director


Acer Estates Limited (Registered number: 08119790)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Acer Estates 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Acer Estates Limited (Registered number: 08119790)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 1,823
DEPRECIATION
At 1 July 2023 1,111
Charge for year 456
At 30 June 2024 1,567
NET BOOK VALUE
At 30 June 2024 256
At 30 June 2023 712

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 475,000
NET BOOK VALUE
At 30 June 2024 475,000
At 30 June 2023 475,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2019 86,556
Cost 388,444
475,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1
Taxation and social security 3,559 3,481
Other creditors 1,375 2,625
4,934 6,107

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 392,243 387,308

Acer Estates Limited (Registered number: 08119790)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   



The company has taken out a mortgage to assist in the purchase of its freehold property and the lending is secured against personal property owned by the Director.


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 2 2

10. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 63,711

11. ULTIMATE CONTROLLING PARTY

During the year the company was wholly under the control of Mr M E Dennis and Mrs N J Dennis by virtue of their combined holding of the entire issued share capital in the company.