Registered number
02866123
Acre House Developments Limited
Filleted Accounts
31 March 2024
Acre House Developments Limited
Registered number: 02866123
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 4 - 300,000
Current assets
Debtors 5 - 4,526
Cash at bank and in hand 289,052 283,490
289,052 288,016
Creditors: amounts falling due within one year 6 (15,190) (66,874)
Net current assets 273,862 221,142
Total assets less current liabilities 273,862 521,142
Creditors: amounts falling due after more than one year 7 - (218,700)
Net assets 273,862 302,442
Capital and reserves
Called up share capital 100 100
Profit and loss account 273,762 302,342
Shareholder's funds 273,862 302,442
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Arnold
Director
Approved by the board on 22 November 2024
Acre House Developments Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Computer equipment Total
£ £ £ £
Cost
At 31 March 2024 - - - -
Depreciation
At 31 March 2024 - - - -
Net book value
At 31 March 2024 - - - -
4 Investment Property 2024 2023
£ £
B/fwd 300,000 750,000
Additions - -
Revaluation (125,000) (340,000)
Transfers to/from tangible fixed assets - -
Disposals (175,000) (110,000)
- 300,000
The fair value of the Investment Property at 31 March 2024 has been arrived at on the basis of a valuation carried out at that date by Mr David Arnold, a director of the company who is not a professionally qualified valuer.
5 Debtors 2024 2023
£ £
Deferred tax asset - 3,546
Other debtors - 980
- 4,526
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,080 1,080
Taxation and social security costs 14,057 64,741
Other creditors 53 1,053
15,190 66,874
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 218,700
8 Other information
Acre House Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
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