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Registration number: 09147254

Acorn Properties (South West) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Acorn Properties (South West) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Acorn Properties (South West) Limited

Company Information

Directors

Mr R Bushnell

Mr Lee Smithson

Registered office

67 Boutport Street
Barnstaple
Devon
EX31 1HG

Accountants

Ward and Co Chartered Accountants
West Penhill Farm
Fremington
Barnstaple
Devon
EX31 2NG

 

Acorn Properties (South West) Limited

(Registration number: 09147254)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

421,410

333,357

Debtors

5

138

1,590

Cash at bank and in hand

 

4,655

23,811

 

426,203

358,758

Creditors: Amounts falling due within one year

6

(963)

(10,553)

Total assets less current liabilities

 

425,240

348,205

Creditors: Amounts falling due after more than one year

6

(310,000)

(225,000)

Net assets

 

115,240

123,205

Capital and reserves

 

Called up share capital

7

8

8

Capital redemption reserve

5

5

Retained earnings

115,227

123,192

Shareholders' funds

 

115,240

123,205

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

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 Board on 12 November 2024 and signed on its behalf by:
 

 

Acorn Properties (South West) Limited

(Registration number: 09147254)
Balance Sheet as at 31 July 2024

.........................................
Mr R Bushnell
Director

.........................................
Mr Lee Smithson
Director

 

Acorn Properties (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
67 Boutport Street
Barnstaple
Devon
EX31 1HG

These financial statements were authorised for issue by the Board on 12 November 2024.

2

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.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

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 Properties (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Asset class

Depreciation method and rate

Plant and Machinery

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Stocks

2024
£

2023
£

Other inventories

421,410

333,357

5

Debtors

Current

2024
£

2023
£

Prepayments

-

136

Other debtors

138

1,454

 

138

1,590

 

Acorn Properties (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

56

9,317

Accruals and deferred income

906

94

Other creditors

1

1,142

963

10,553

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

310,000

225,000

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

8

8

8

8