Company registration number 03936726 (England and Wales)
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
COMPANY INFORMATION
Directors
Mr M P Kendall
(Appointed 1 July 2024)
Mr R G Hely Hutchinson
(Appointed 1 July 2024)
Company number
03936726
Registered office
2a Eagle Road
Moons Moat North Industrial Estate
Redditch
Worcestershire
B98 9HF
Auditor
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
168 Warstone Lane
Birmingham
West Midlands
B18 6NP
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 5
Statement of comprehensive income
6
Balance sheet
7
Statement of changes in equity
8
Notes to the financial statements
9 - 17
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 1 -

The directors present the strategic report for the year ended 29 February 2024.

Fair review of the business

The company's financial results for the year and its financial position at the year end can be found in the financial statements.

In summary, the company achieved a profit before taxation of £1,463,613 compared to £3,425,940 in the previous year, from turnover of £8,765,662 in 2024 and £11,171,072 in 2023.

Cash funds held at 29 February 2024 have increased from £1,079,180 to £1,240,285 .

The company balance sheet is showing net assets of £4,493,052 at the 29 February 2024 (2023: £4,498,004).

The directors are satisfied with the trading results and the position of the company at the year end.

Principal risks and uncertainties

The directors considered that the principal risk and uncertainties of the business are those relating to the general economic conditions and the performance of its subsidiaries. Both of these risks are monitored regularly by the Board of Directors to ensure that these risks are minimised, particularly in terms of reviewing subsidiary performance.

Key performance indicators

The key performance indicators which the director targets are sales growth, operating profit as a percentage of sales and return on capital employed. The objective is to at least exceed inflation in sales growth and to improve the operating ratios year on year.

 

2024
2023
- Sales increase/(reduction)
(21.53)%
(8.34)%
- Operating profit/(loss) as a percentage of sales
16.61%
30.68%

On behalf of the board

Mr M P Kendall
Director
20 November 2024
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -

The directors present their annual report and financial statements for the year ended 29 February 2024.

Principal activity

The principal activity of the company in the year under review was that of silviculture and other forestry related activities.

Results and dividends

The results for the year are set out on page 6.

Ordinary dividends were paid amounting to £1,040,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr K O'Rourke
(Resigned 1 July 2024)
Mr G A Martin
(Resigned 1 July 2024)
Mrs L I O'Rourke
(Resigned 1 July 2024)
Mr M P Kendall
(Appointed 1 July 2024)
Mr R G Hely Hutchinson
(Appointed 1 July 2024)
Post reporting date events

On 1st July 2024, the immediate parent company, A E M G Holdings Limited, was acquired by Oak Holding Ltd, which is part of the idverde Group.

Auditor

Ormerod Rutter Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
Disclosure in the strategic report

A separate strategic report has been prepared in compliance with the Companies Act 2006 and contains information about the company's operations and financial performance through out the period, and an assessment of the principal risks and uncertainties facing the company.

 

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr M P Kendall
Director
20 November 2024
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
- 4 -
Opinion

We have audited the financial statements of Acorn Environmental Management Group Limited (the 'company') for the year ended 29 February 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Peter Ormerod FCA
Senior Statutory Auditor
For and on behalf of Ormerod Rutter Limited
20 November 2024
Chartered Accountants
Statutory Auditor
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 6 -
2024
2023
Notes
£
£
Turnover
3
8,765,662
11,171,072
Cost of sales
(6,053,300)
(6,412,730)
Gross profit
2,712,362
4,758,342
Administrative expenses
(1,256,802)
(1,331,590)
Operating profit
4
1,455,560
3,426,752
Interest receivable and similar income
8,053
-
0
Interest payable and similar expenses
7
-
0
(812)
Profit before taxation
1,463,613
3,425,940
Tax on profit
8
(428,565)
(661,823)
Profit for the financial year
1,035,048
2,764,117
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
420,519
560,266
Investments
11
-
0
102
420,519
560,368
Current assets
Debtors
13
3,303,339
3,721,049
Cash at bank and in hand
1,240,285
1,079,180
4,543,624
4,800,229
Creditors: amounts falling due within one year
14
(369,537)
(758,602)
Net current assets
4,174,087
4,041,627
Total assets less current liabilities
4,594,606
4,601,995
Provisions for liabilities
(101,554)
(103,991)
Net assets
4,493,052
4,498,004
Capital and reserves
Called up share capital
17
100
100
Profit and loss reserves
4,492,952
4,497,904
Total equity
4,493,052
4,498,004
The financial statements were approved by the board of directors and authorised for issue on 20 November 2024 and are signed on its behalf by:
Mr M P Kendall
Director
Company Registration No. 03936726
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 8 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 March 2022
100
3,933,787
3,933,887
Year ended 28 February 2023:
Profit and total comprehensive income
-
2,764,117
2,764,117
Dividends
9
-
(2,200,000)
(2,200,000)
Balance at 28 February 2023
100
4,497,904
4,498,004
Year ended 29 February 2024:
Profit and total comprehensive income
-
1,035,048
1,035,048
Dividends
9
-
(1,040,000)
(1,040,000)
Balance at 29 February 2024
100
4,492,952
4,493,052
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 9 -
1
Accounting policies
Company information

Acorn Environmental Management Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2a Eagle Road, Moons Moat North Industrial Estate, Redditch, Worcestershire, United Kingdom, B98 9HF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

Acorn Environmental Management Group Limited is a wholly owned subsidiary of A E M G Holdings Limited and the results of Acorn Environmental Management Group Limited are included in the consolidated financial statements of A E M G Holdings Limited which are available from 2a Eagle Road, Moons Moat North Industrial Estate, Redditch, Worcestershire, United Kingdom, B98 9HF.

These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.true

 

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 10 -

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Short leasehold
over lease term
Plant and machinery
25% on reducing balance
Fixtures, fittings and equipment
25% on reducing balance
Computer equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 11 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 12 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Services rendered
8,765,662
11,171,072
2024
2023
£
£
Turnover analysed by geographical market
UK
8,765,662
11,171,072
2024
2023
£
£
Other revenue
Interest income
8,053
-
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
146,398
221,787
Loss/(profit) on disposal of tangible fixed assets
625
(137,448)
Loss on disposal of investment property
102
-
0
Operating lease charges
200,889
198,148
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
76
88
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
5
Employees
(Continued)
- 13 -

Their aggregate remuneration comprised:

2024
2023
£
£
Wages, salaries and NIC
3,307,435
3,573,939
Social security costs
11,207
9,844
Pension costs
132,907
222,062
3,451,549
3,805,845
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
108,500
95,000
Company pension contributions to defined contribution schemes
40,931
81,906
149,431
176,906
7
Interest payable and similar expenses
2024
2023
£
£
Other interest
-
0
812
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
416,128
676,805
Adjustments in respect of prior periods
14,874
-
0
Total current tax
431,002
676,805
Deferred tax
Origination and reversal of timing differences
(2,437)
(14,982)
Total tax charge
428,565
661,823
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
8
Taxation
(Continued)
- 14 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
1,463,613
3,425,940
Expected tax charge based on the standard rate of corporation tax in the UK of 24.49% (2023: 19.00%)
358,465
650,929
Tax effect of expenses that are not deductible in determining taxable profit
23,937
11,013
Adjustments in respect of prior years
14,874
-
0
Permanent capital allowances in excess of depreciation
33,726
(119)
Deferred tax movement
(2,437)
-
0
Taxation charge for the year
428,565
661,823
9
Dividends
2024
2023
£
£
Final paid
1,040,000
2,200,000
10
Tangible fixed assets
Short leasehold
Plant and machinery
Fixtures, fittings and equipment
Computer equipment
Total
£
£
£
£
£
Cost
At 1 March 2023
36,702
2,877,288
71,229
207,555
3,192,774
Additions
-
0
-
0
-
0
7,776
7,776
Disposals
-
0
(10,650)
-
0
-
0
(10,650)
At 29 February 2024
36,702
2,866,638
71,229
215,331
3,189,900
Depreciation and impairment
At 1 March 2023
36,702
2,341,372
54,246
200,188
2,632,508
Depreciation charged in the year
-
0
133,967
4,254
8,177
146,398
Eliminated in respect of disposals
-
0
(9,525)
-
0
-
0
(9,525)
At 29 February 2024
36,702
2,465,814
58,500
208,365
2,769,381
Carrying amount
At 29 February 2024
-
0
400,824
12,729
6,966
420,519
At 28 February 2023
-
0
535,916
16,983
7,367
560,266
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 15 -
11
Fixed asset investments
2024
2023
Notes
£
£
Investments in subsidiaries
12
-
0
102
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 March 2023
102
Disposals
(102)
At 29 February 2024
-
Carrying amount
At 29 February 2024
-
At 28 February 2023
102
12
Subsidiaries

Details of the company's subsidiaries held during the year and dissolved on 23 January 2024 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Acorn Landscapes Limted
1
1 Ordinary
100.00
Acorn Tree Consultants Limited
1
1 Ordinary
100.00
Acorn Tree Surgery Limited
1
100 Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

1
2a Eagle Road, Moons Moat North Industrial Estate, Redditch, Worcestershire, United Kingdom, B98 9HF.
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,192,965
1,355,739
Corporation tax recoverable
144,392
-
0
Amounts owed by group undertakings
1,946,261
2,210,698
Prepayments and accrued income
19,721
154,612
3,303,339
3,721,049
ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 16 -
14
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
212,254
271,512
Corporation tax
-
0
270,805
Other taxation and social security
122,240
179,400
Other creditors
13,006
15,045
Accruals and deferred income
22,037
21,840
369,537
758,602
15
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
102,773
103,991
Retirement benefit obligations
(1,219)
-
101,554
103,991
2024
Movements in the year:
£
Liability at 1 March 2023
103,991
Credit to profit or loss
(2,437)
Liability at 29 February 2024
101,554

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
132,907
222,062

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

ACORN ENVIRONMENTAL MANAGEMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 17 -
17
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
18
Events after the reporting date

On 1st July 2024, the immediate parent company, A E M G Holdings Limited, was acquired by Oak Holding Ltd, which is part of the idverde Group.

19
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

20
Control

The Company's immediate parent company is A E M G Holdings Limited.

At the year end, the largest group of undertakings for which group accounts are drawn up is Armorica Topco SCA, the ultimate parent company of the idverde Group, registered in Luxembourg and controlled by Core Equity Holdings LP.

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