IRIS Accounts Production v24.3.0.553 02890785 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028907852023-01-31028907852024-01-31028907852023-02-012024-01-31028907852022-01-31028907852022-02-012023-01-31028907852023-01-3102890785ns15:EnglandWales2023-02-012024-01-3102890785ns14:PoundSterling2023-02-012024-01-3102890785ns10:Director12023-02-012024-01-3102890785ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3102890785ns10:SmallEntities2023-02-012024-01-3102890785ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3102890785ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3102890785ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3102890785ns10:FullAccounts2023-02-012024-01-3102890785ns10:OrdinaryShareClass12023-02-012024-01-3102890785ns10:Director22023-02-012024-01-3102890785ns10:RegisteredOffice2023-02-012024-01-3102890785ns5:CurrentFinancialInstruments2024-01-3102890785ns5:CurrentFinancialInstruments2023-01-3102890785ns5:Non-currentFinancialInstruments2024-01-3102890785ns5:Non-currentFinancialInstruments2023-01-3102890785ns5:ShareCapital2024-01-3102890785ns5:ShareCapital2023-01-3102890785ns5:SharePremium2024-01-3102890785ns5:SharePremium2023-01-3102890785ns5:RetainedEarningsAccumulatedLosses2024-01-3102890785ns5:RetainedEarningsAccumulatedLosses2023-01-3102890785ns5:LeaseholdImprovements2023-02-012024-01-3102890785ns5:PlantMachinery2023-02-012024-01-3102890785ns5:FurnitureFittings2023-02-012024-01-3102890785ns5:MotorVehicles2023-02-012024-01-3102890785ns5:PlantMachinery2023-01-3102890785ns5:PlantMachinery2024-01-3102890785ns5:PlantMachinery2023-01-3102890785ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-3102890785ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-01-3102890785ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-3102890785ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3102890785ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3102890785ns10:OrdinaryShareClass12024-01-31028907851ns10:Director12023-01-31028907851ns10:Director12022-01-31028907851ns10:Director12023-02-012024-01-31028907851ns10:Director12022-02-012023-01-31028907851ns10:Director12024-01-31028907851ns10:Director12023-01-31
REGISTERED NUMBER: 02890785 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Acorn Arable Limited

Acorn Arable Limited (Registered number: 02890785)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Acorn Arable Limited

Company Information
for the Year Ended 31 January 2024







Directors: Mrs S R Meredith
Mr B K Wells





Registered office: The Courtyard
19 High Street
Pershore
Worcestershire
WR10 1AA





Registered number: 02890785 (England and Wales)





Accountants: Crowthers Chartered Accountants
19 High Street
Pershore
Worcestershire
WR10 1AA

Acorn Arable Limited (Registered number: 02890785)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 61,952 46,324

CURRENT ASSETS
Debtors 5 1,478,560 2,530,898
Cash at bank and in hand 61,037 124,861
1,539,597 2,655,759
CREDITORS
Amounts falling due within one year 6 1,540,143 2,604,593
NET CURRENT (LIABILITIES)/ASSETS (546 ) 51,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,406

97,490

CREDITORS
Amounts falling due after more than one
year

7

48,489

30,358
NET ASSETS 12,917 67,132

CAPITAL AND RESERVES
Called up share capital 8 76 76
Share premium 1,960 1,960
Retained earnings 10,881 65,096
SHAREHOLDERS' FUNDS 12,917 67,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Acorn Arable Limited (Registered number: 02890785)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2024 and were signed on its behalf by:





Mr B K Wells - Director


Acorn Arable Limited (Registered number: 02890785)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Acorn Arable 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Over lease term
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Acorn Arable Limited (Registered number: 02890785)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor.Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 February 2023 126,597
Additions 36,280
At 31 January 2024 162,877
Depreciation
At 1 February 2023 80,273
Charge for year 20,652
At 31 January 2024 100,925
Net book value
At 31 January 2024 61,952
At 31 January 2023 46,324

Acorn Arable Limited (Registered number: 02890785)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
Cost
At 1 February 2023
and 31 January 2024 51,142
Depreciation
At 1 February 2023
and 31 January 2024 12,785
Net book value
At 31 January 2024 38,357
At 31 January 2023 38,357

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,436,753 2,483,293
Other debtors 41,807 47,605
1,478,560 2,530,898

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 14,279 11,900
Trade creditors 1,366,084 2,458,931
Taxation and social security 146,471 76,203
Other creditors 13,309 57,559
1,540,143 2,604,593

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 48,489 30,358

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
76 Ordinary 1 76 76

Acorn Arable Limited (Registered number: 02890785)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr B K Wells
Balance outstanding at start of year - -
Amounts advanced 14,474 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,474 -

Interest is charged on the loan at 2.5%.