BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of seed merchants and consultants. 7 October 2024 0 0 06776336 2024-04-30 06776336 2023-04-30 06776336 2022-04-30 06776336 2023-05-01 2024-04-30 06776336 2022-05-01 2023-04-30 06776336 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06776336 uk-curr:PoundSterling 2023-05-01 2024-04-30 06776336 uk-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06776336 uk-bus:FullAccounts 2023-05-01 2024-04-30 06776336 uk-core:ShareCapital 2024-04-30 06776336 uk-core:ShareCapital 2023-04-30 06776336 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 06776336 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 06776336 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 06776336 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 06776336 uk-bus:FRS102 2023-05-01 2024-04-30 06776336 uk-core:Goodwill 2023-05-01 2024-04-30 06776336 uk-core:LandBuildings 2023-05-01 2024-04-30 06776336 uk-core:PlantMachinery 2023-05-01 2024-04-30 06776336 uk-core:Goodwill 2023-04-30 06776336 uk-core:Goodwill 2024-04-30 06776336 uk-core:CurrentFinancialInstruments 2024-04-30 06776336 uk-core:CurrentFinancialInstruments 2023-04-30 06776336 uk-core:WithinOneYear 2024-04-30 06776336 uk-core:WithinOneYear 2023-04-30 06776336 uk-core:WithinOneYear 2024-04-30 06776336 uk-core:WithinOneYear 2023-04-30 06776336 uk-core:OtherMiscellaneousReserve 2023-04-30 06776336 uk-core:OtherMiscellaneousReserve 2023-05-01 2024-04-30 06776336 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 06776336 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-04-30 06776336 uk-core:OtherDeferredTax 2024-04-30 06776336 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-04-30 06776336 uk-core:OtherMiscellaneousReserve 2024-04-30 06776336 2023-05-01 2024-04-30 06776336 uk-bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 06776336 uk-bus:Director1 2023-05-01 2024-04-30 06776336 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
Company Registration Number: 06776336
 
 
Acorn Seeds Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 April 2024



Acorn Seeds Limited
Company Registration Number: 06776336
BALANCE SHEET
as at 30 April 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 5 - 5,015
Tangible assets 6 14,879 13,705
───────── ─────────
Fixed Assets 14,879 18,720
───────── ─────────
 
Current Assets
Stocks 7 10,821 9,781
Debtors 8 87,605 117,318
Cash at bank and in hand 1,961 570
───────── ─────────
100,387 127,669
───────── ─────────
Creditors: amounts falling due within one year 9 (91,567) (129,430)
───────── ─────────
Net Current Assets/(Liabilities) 8,820 (1,761)
───────── ─────────
Total Assets less Current Liabilities 23,699 16,959
 
Provisions for liabilities 11 (684) (461)
───────── ─────────
Net Assets 23,015 16,498
═════════ ═════════
 
Capital and Reserves
Called up share capital 6 6
Retained earnings 23,009 16,492
───────── ─────────
Shareholders' Funds 23,015 16,498
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 7 October 2024 and signed on its behalf by
           
           
           
________________________________          
Mr. G E Maule          
Director          
           



Acorn Seeds Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
Acorn Seeds Limited is a company limited by shares incorporated in the United Kingdom. 20 Whin Common Road, Denver, Downham Market, Norfolk, PE38 0DX, England is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 April 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied and commissions received by the company, exclusive of trade discounts and value added tax.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Seed store - Nil
  Plant and machinery - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
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.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 3, (2023 - 3).
       
4. Dividends 2024 2023
  £ £
Dividends on equity shares:
 
Ordinary Shares - Interim paid 16,000 -
  ═════════ ═════════
     
5. Intangible assets
   
  Goodwill
  £
Cost
At 1 May 2023 68,000
  ─────────
 
At 30 April 2024 68,000
  ─────────
Amortisation
At 1 May 2023 62,985
Charge for financial year 5,015
  ─────────
At 30 April 2024 68,000
  ─────────
Net book value
At 30 April 2024 -
  ═════════
At 30 April 2023 5,015
  ═════════
         
6. Tangible assets
  Seed store Plant and Total
    machinery  
       
  £ £ £
Cost
At 1 May 2023 11,277 15,291 26,568
Additions - 2,325 2,325
Disposals - (1,131) (1,131)
  ───────── ───────── ─────────
At 30 April 2024 11,277 16,485 27,762
  ───────── ───────── ─────────
Depreciation
At 1 May 2023 - 12,863 12,863
Charge for the financial year - 946 946
On disposals - (926) (926)
  ───────── ───────── ─────────
At 30 April 2024 - 12,883 12,883
  ───────── ───────── ─────────
Net book value
At 30 April 2024 11,277 3,602 14,879
  ═════════ ═════════ ═════════
At 30 April 2023 11,277 2,428 13,705
  ═════════ ═════════ ═════════
       
7. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 10,821 9,781
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
8. Debtors 2024 2023
  £ £
 
Trade debtors 72,368 104,625
Directors' current accounts (Note 12) 13,809 11,809
Taxation  (Note 10) 70 -
Prepayments and accrued income 1,358 884
  ───────── ─────────
  87,605 117,318
  ═════════ ═════════
       
9. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 23,235 46,454
Trade creditors 58,133 73,701
Taxation  (Note 10) 6,895 6,128
Accruals 3,304 3,147
  ───────── ─────────
  91,567 129,430
  ═════════ ═════════
       
10. Taxation 2024 2023
  £ £
 
Debtors:
VAT 70 -
  ═════════ ═════════
Creditors:
VAT - 463
Corporation tax 6,335 5,235
PAYE / NI 560 430
  ───────── ─────────
  6,895 6,128
  ═════════ ═════════
       
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total
  allowances  
     
  2024 2023
  £ £
 
At financial year start 461 579
Charged to profit and loss 223 (118)
  ───────── ─────────
At financial year end 684 461
  ═════════ ═════════
   
12. Directors' advances, credits and guarantees
 
At the year end Mr G E Maule & Mrs R A Maule owed the company £13,809, this amount is included in debtors. Interest has been charged at 2.25% per annum where applicable.

Credits to the loan account totalling £47,669.75 represent salaries and capital introduced. Debits totalling £49,669.86 represent private payments made.
   
13. Controlling interest
 
The company is under the control of the directors.