Company Registration No. 15145348 (England and Wales)
ACORN STORAGE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
Star House
Star Hill
Rochester
Kent
ME1 1UX
ACORN STORAGE HOLDINGS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
ACORN STORAGE HOLDINGS LIMITED
COMPANY INFORMATION
- 1 -
Directors
C J Coulson
(Appointed 18 September 2023)
J R Crawley
(Appointed 18 September 2023)
C J O'Brien
(Appointed 18 September 2023)
Company number
15145348
Registered office
3 Beaufort House
Beaufort Court Sir Thomas Longley Road
Medway City Estate
Rochester
Kent
ME2 4FB
Accountants
TC Group
Star House
Star Hill
Rochester
Kent
ME1 1UX
ACORN STORAGE HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2024
31 October 2024
- 2 -
2024
Notes
£
£
Fixed assets
Investments
3
1,356,750
Current assets
Debtors
4
300
Creditors: amounts falling due within one year
5
(139,924)
Net current liabilities
(139,624)
Total assets less current liabilities
1,217,126
Creditors: amounts falling due after more than one year
6
(720,000)
Net assets
497,126
Capital and reserves
Called up share capital
300
Profit and loss reserves
496,826
Total equity
497,126
ACORN STORAGE HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024
31 October 2024
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 March 2025 and are signed on its behalf by:
J R Crawley
Director
Company registration number 15145348 (England and Wales)
ACORN STORAGE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 4 -
1
Accounting policies
Company information
Acorn Storage Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Beaufort House, Beaufort Court Sir Thomas Longley Road, Medway City Estate, Rochester, Kent, ME2 4FB.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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. The principal accounting policies adopted are set out below.
1.2
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.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ACORN STORAGE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.4
Compound instruments
The component parts of compound instruments issued by the company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. At the date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. This amount is recorded as a liability on an amortised cost basis using the effective interest method until extinguished upon conversion or at the instrument's maturity date. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity net of income tax effects and is not subsequently remeasured.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
3
ACORN STORAGE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 6 -
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
1,356,750
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 18 September 2023
-
Additions
1,356,750
At 31 October 2024
1,356,750
Carrying amount
At 31 October 2024
1,356,750
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
300
5
Creditors: amounts falling due within one year
2024
£
Loan notes
139,000
Accruals and deferred income
924
139,924
6
Creditors: amounts falling due after more than one year
2024
£
Loan notes
720,000
ACORN STORAGE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
6
Creditors: amounts falling due after more than one year
(Continued)
- 7 -
The unconvertible loan notes outstanding at the year end are £859,000. Instalments are due every 6 months on 30 April and 31 October and are interest free.