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Registration number:
Acorn Builders (Pewsey) Limited
for the Year Ended 31 January 2024
Acorn Builders (Pewsey) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Acorn Builders (Pewsey) Limited
Company Information
Directors |
Mr D A Whitton Mr M J Baker R G Butler Mr K E Franklin |
Company secretary |
Mr M J Baker |
Registered office |
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Accountants |
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Acorn Builders (Pewsey) Limited
(Registration number: 03695966)
Balance Sheet as at 31 January 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
Acorn Builders (Pewsey) Limited
(Registration number: 03695966)
Balance Sheet as at 31 January 2024 (continued)
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Acorn Builders (Pewsey) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
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 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 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.
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.
Acorn Builders (Pewsey) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
2 |
Accounting policies (continued) |
Construction Contracts
When the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion, the company recognises revenue on the sales of services in the reporting period in which the services are rendered by reference to the stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Tax
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.
Deferred taxation
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.
Tangible assets
Freehold land and property is held at valuation less any provision for impairment, and depreciation is not provided.
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Acorn Builders (Pewsey) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
2 |
Accounting policies (continued) |
Asset class |
Depreciation method and rate |
Plant & Machinery |
15% Reducing Balance |
Motor Vehicles |
25% Reducing Balance |
Computer Equipment |
25% Reducing Balance |
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Provisions
Provisions are recognised when the company has an obligation at the reporting date 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.
Financial instruments
Classification
Recognition and measurement
Impairment
Acorn Builders (Pewsey) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Plant and machinery |
Computer equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 February 2023 |
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Additions |
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- |
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Disposals |
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( |
( |
At 31 January 2024 |
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Depreciation |
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At 1 February 2023 |
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Charge for the year |
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Eliminated on disposal |
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- |
( |
( |
At 31 January 2024 |
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Carrying amount |
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At 31 January 2024 |
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At 31 January 2023 |
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Acorn Builders (Pewsey) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
Investments |
Participating interests |
£ |
Cost |
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At 1 February 2023 |
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Provision |
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Carrying amount |
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At 31 January 2024 |
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At 31 January 2023 |
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Stocks |
2024 |
2023 |
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Work in progress |
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Debtors |
Current |
Note |
2024 |
2023 |
Trade debtors |
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Amounts owed by related parties |
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Trade debtors - retentions |
139,117 |
154,411 |
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Prepayments |
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Other debtors |
300 |
300 |
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Amounts recoverable on contracts |
273,462 |
73,667 |
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Acorn Builders (Pewsey) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Income tax liability |
56,075 |
78,687 |
PAYE & Social security |
54,294 |
48,321 |
VAT |
195,676 |
231,184 |
Accruals and deferred income |
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Directors' current accounts |
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Credit card account |
5,299 |
3,143 |
Pension payable |
- |
205 |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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95 |
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95 |
Acorn Builders (Pewsey) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)
Dividends |
Durign the year, total dividends of Nil (2023 - £108,0000) were paid to the directors.
Also during the year, total dividends of £1,000,000 (2023 - £1,755,504) were paid to the ultimate parent company ABP Management Services Ltd.
Related party transactions |
Loans to related parties
2024 |
Entities with joint control or significant influence |
Total |
At start of period |
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At end of period |
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Terms of loans to related parties
Ultimate Parent Company |
During the comparitive year, a group was created under the ultimate parent company ABP Management Services Limited. The shares were reorganized into 95 Ordinary Shares, and the company is now wholly owned by ABP Management Services Limited.