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Company No: 02779881 (England and Wales)

THE ACORN SCHOOL HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

THE ACORN SCHOOL HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

THE ACORN SCHOOL HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
THE ACORN SCHOOL HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 14,411 0
Investment property 4 1,000,000 1,000,000
Investments 5 100 100
1,014,511 1,000,100
Current assets
Debtors 6 27,179 0
Cash at bank and in hand 44 86
27,223 86
Creditors: amounts falling due within one year 7 ( 55,637) ( 22,740)
Net current liabilities (28,414) (22,654)
Total assets less current liabilities 986,097 977,446
Provision for liabilities ( 167,704) ( 167,704)
Net assets 818,393 809,742
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 818,391 809,740
Total shareholders' funds 818,393 809,742

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The Acorn School Holdings Limited (registered number: 02779881) were approved and authorised for issue by the Board of Directors on 10 February 2025. They were signed on its behalf by:

S A Whiting
Director
THE ACORN SCHOOL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
THE ACORN SCHOOL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Acorn School Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed 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. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 15 % reducing balance
Computer equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 September 2023 0 0 0 0 0
Additions 4,139 6,089 89 5,476 15,793
At 31 August 2024 4,139 6,089 89 5,476 15,793
Accumulated depreciation
At 01 September 2023 0 0 0 0 0
Charge for the financial year 362 533 8 479 1,382
At 31 August 2024 362 533 8 479 1,382
Net book value
At 31 August 2024 3,777 5,556 81 4,997 14,411
At 31 August 2023 0 0 0 0 0

4. Investment property

Investment property
£
Valuation
As at 01 September 2023 1,000,000
As at 31 August 2024 1,000,000

Valuation

Investment property, which is freehold, was revalued to fair value at 31 August 2021, based on a valuation by the Directors, with experience in the location and class of the investment property being valued.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 204,230 204,230

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 100
At 31 August 2024 100
Carrying value at 31 August 2024 100
Carrying value at 31 August 2023 100

6. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 27,179 0

7. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 0 17,124
Amounts owed to directors 34,234 92
Accruals 6,400 1,800
Taxation and social security 15,003 3,724
55,637 22,740

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Related party transactions

At the year end, the company owed the directors £34,234 (2023: £92). This amount is included within other creditors, is interest free and repayable on demand.

During the year, the directors were paid dividends of £55,000 (2023: £43,000 ).

10. Reserves

The profit and loss reserve includes both distributable and non-distributable reserves. Non-distributable reserves represents cumulative gains and losses on the revaluation of investment property, net of deferred tax. At the balance sheet date non-distributable reserves totalled £628,066 (2023: £628,066).