2023-07-132024-07-312024-07-31false15001316TWELVE ACRE 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TWELVE ACRE LTD

Registered Number
15001316
(England and Wales)

Unaudited Financial Statements for the Period ended
31 July 2024

TWELVE ACRE LTD
Company Information
for the period from 13 July 2023 to 31 July 2024

Director

WILKINSON, Callum

Registered Address

Excel House
3 Duke Street
Bedford
MK40 3HR

Registered Number

15001316 (England and Wales)
TWELVE ACRE LTD
Balance Sheet as at
31 July 2024

Notes

2024

£

£

Fixed assets
Tangible assets3322,844
322,844
Current assets
Debtors19,173
19,173
Creditors amounts falling due within one year4(147,305)
Net current assets (liabilities)(128,132)
Total assets less current liabilities194,712
Creditors amounts falling due after one year5(182,488)
Net assets12,224
Capital and reserves
Profit and loss account12,224
Shareholders' funds12,224
The financial statements were approved and authorised for issue by the Director on 1 April 2025, and are signed on its behalf by:
WILKINSON, Callum
Director
Registered Company No. 15001316
TWELVE ACRE LTD
Notes to the Financial Statements
for the period ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.Average number of employees

2024
Average number of employees during the year2
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
Additions284,82168,75012,686366,257
At 31 July 24284,82168,75012,686366,257
Depreciation and impairment
Charge for year31,65910,0261,72843,413
At 31 July 2431,65910,0261,72843,413
Net book value
At 31 July 24253,16258,72410,958322,844
At 12 July 23----
4.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables3,125
Bank borrowings and overdrafts17,400
Taxation and social security10,775
Finance lease and HP contracts15,606
Other creditors100,399
Total147,305
5.Creditors: amounts due after one year

2024

£
Trade creditors / trade payables182,488
Total182,488