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REGISTERED NUMBER: 08567112 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Acorn Engineering Havant Limited

Acorn Engineering Havant Limited (Registered number: 08567112)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Acorn Engineering Havant Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: P N Van Der Lugt





REGISTERED OFFICE: Unit 6
Kingscroft Court
Ridgway
Havant
Hampshire
PO9 1LS





REGISTERED NUMBER: 08567112 (England and Wales)





ACCOUNTANTS: Tropman & Co Limited
39 Station Road
Liphook
Hampshire
GU30 7DW

Acorn Engineering Havant Limited (Registered number: 08567112)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2 2
Tangible assets 5 308,133 316,527
308,135 316,529

CURRENT ASSETS
Stocks 6 277,455 59,903
Debtors 7 45,356 256,261
Cash at bank and in hand 72,769 31,595
395,580 347,759
CREDITORS
Amounts falling due within one year 8 134,990 107,994
NET CURRENT ASSETS 260,590 239,765
TOTAL ASSETS LESS CURRENT
LIABILITIES

568,725

556,294

CREDITORS
Amounts falling due after more than one
year

9

150,727

175,495
NET ASSETS 417,998 380,799

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 417,698 380,499
SHAREHOLDERS' FUNDS 417,998 380,799

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Acorn Engineering Havant Limited (Registered number: 08567112)

Balance Sheet - continued
31 July 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:





P N Van Der Lugt - Director


Acorn Engineering Havant Limited (Registered number: 08567112)

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

1. STATUTORY INFORMATION

Acorn Engineering Havant Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the period in the normal course of business, net of VAT and trade discounts,

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Motor vehicles - 25% on reducing balance
Equipment - 20% on reducing balance

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Acorn Engineering Havant Limited (Registered number: 08567112)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Finance lease agreements
Assets purchased under a finance lease where substantially all of the benefits and risks of ownership remain with the lessee are capitalised. The liability outstanding is recorded on the Balance Sheet in line with the term of the agreement. Rentals applicable to finance leases made are apportioned between repayment of the liability and charges incurred which are charged against profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 August 2023
and 31 July 2024 2
NET BOOK VALUE
At 31 July 2024 2
At 31 July 2023 2

5. TANGIBLE FIXED ASSETS
Freehold Motor
property vehicles Equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 275,000 6,999 64,896 346,895
DEPRECIATION
At 1 August 2023 - 5,228 25,140 30,368
Charge for year - 443 7,951 8,394
At 31 July 2024 - 5,671 33,091 38,762
NET BOOK VALUE
At 31 July 2024 275,000 1,328 31,805 308,133
At 31 July 2023 275,000 1,771 39,756 316,527

Acorn Engineering Havant Limited (Registered number: 08567112)

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

6. STOCKS
31.7.24 31.7.23
£    £   
Raw materials 32,611 27,212
Work-in-progress 244,844 32,691
277,455 59,903

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 44,723 255,961
Other debtors 633 300
45,356 256,261

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 72,989 31,695
Tax 19,993 12,959
Social security and other taxes 5,403 6,577
Other creditors 1,170 1,209
VAT 10,226 30,845
Accruals and deferred income 5,600 5,100
Mortgage due within one year 19,609 19,609
134,990 107,994

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Mortgage 122,345 139,916
Finance leases 28,382 35,579
150,727 175,495

Amounts falling due in more than five years:

Repayable by instalments
Mortgage 122,345 139,916

Included within creditors above is a mortgage secured by a legal charge dated 6th July 2021 in favour of Barclays Security Trustees Limited.