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Acorn Property Company 2018 Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 June 2024

Registration number: 11109195

 

Acorn Property Company 2018 Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Acorn Property Company 2018 Limited

Balance Sheet

30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

993,403

987,504

Current assets

 

Cash at bank and in hand

 

254

4,124

Creditors: Amounts falling due within one year

5

(941,506)

(980,553)

Net current liabilities

 

(941,252)

(976,429)

Net assets

 

52,151

11,075

Capital and reserves

 

Called up share capital

6

250

250

Profit and loss account

51,901

10,825

Shareholders' funds

 

52,151

11,075

 

Acorn Property Company 2018 Limited

Balance Sheet

30 June 2024

For the financial year ending 30 June 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 March 2025 and signed on its behalf by:
 

.........................................
Mr M P Belcher
Director

Company Registration Number: 11109195

 

Acorn Property Company 2018 Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Woodcutters
Sidbury Hill
Sidbury
Sidmouth
Devon
EX10 0QF

These financial statements were authorised for issue by the Board on 5 March 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006.

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.

The functional and presentational currency is pounds sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 corporation 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.

 

Acorn Property Company 2018 Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 July 2023

987,504

Additions

5,899

At 30 June 2024

993,403

There has been no valuation of investment property by an independent valuer.

 

Acorn Property Company 2018 Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

9,708

2,539

Accruals and deferred income

1,080

1,500

Other creditors

930,718

976,514

941,506

980,553

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

A Ordinary shares of £1 each

150

150

150

150

250

250

250

250