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REGISTERED NUMBER: 12493403 (England and Wales)















Acquired Living Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Acquired Living Limited (Registered number: 12493403)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


Acquired Living Limited (Registered number: 12493403)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £ £
Fixed assets
Investment property 5 445,134 445,134

Current assets
Debtors 6 3,998 4,214
Cash at bank 7,914 3,988
11,912 8,202
Creditors
Amounts falling due within one year 7 (108,794 ) (111,228 )
Net current liabilities (96,882 ) (103,026 )
Total assets less current liabilities 348,252 342,108

Creditors
Amounts falling due after more than
one year

8

(262,095

)

(262,051

)

Provisions for liabilities (22,274 ) (22,274 )
Net assets 63,883 57,783

Acquired Living Limited (Registered number: 12493403)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £ £
Capital and reserves
Called up share capital 2 2
Revaluation reserve 9 66,821 66,821
Retained earnings (2,940 ) (9,040 )
63,883 57,783

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:




Ms K M Melnyk - Director



Mr A Colby - Director


Acquired Living Limited (Registered number: 12493403)

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


1. Statutory information

Acquired Living Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12493403

Registered office: 10 Oak Street
Fakenham
Norfolk
NR21 9DY

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Acquired Living Limited (Registered number: 12493403)

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


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Acquired Living Limited (Registered number: 12493403)

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


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

4. Employees and directors

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

5. Investment property
Total
£
Fair value
At 1 April 2023
and 31 March 2024 445,134
Net book value
At 31 March 2024 445,134
At 31 March 2023 445,134

Fair value at 31 March 2024 is represented by:
£
Valuation in 2022 330,000
Valuation in 2023 115,134
445,134

6. Debtors: amounts falling due within one year
31.3.24 31.3.23
£ £
Trade debtors 984 1,200
Other debtors 3,014 3,014
3,998 4,214

Acquired Living Limited (Registered number: 12493403)

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


7. Creditors: amounts falling due within one year
31.3.24 31.3.23
£ £
Bank loans and overdrafts 8,037 8,037
Other creditors 100,757 103,191
108,794 111,228

The bank loans are secured by the assets of the company.

8. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£ £
Bank loans 262,095 262,051

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 229,947 229,903

The bank loans are secured by the assets of the company.

9. Reserves
Revaluation
reserve
£
At 1 April 2023
and 31 March 2024 66,821

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.