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REGISTERED NUMBER: 07925071 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

ACORN ALLOY REPAIRS LTD

ACORN ALLOY REPAIRS LTD (REGISTERED NUMBER: 07925071)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Balance sheet 1

Notes to the financial statements 3


ACORN ALLOY REPAIRS LTD (REGISTERED NUMBER: 07925071)

BALANCE SHEET
31 JANUARY 2024

2024 2023
as restated
Notes £    £    £   
Fixed assets
Tangible assets 4 304,906 245,504

Current assets
Stocks 7,500 -
Debtors 5 288,935 290,651
Cash at bank 76,393 39,646
372,828 330,297
Creditors
Amounts falling due within one year 6 435,149 497,640
Net current liabilities (62,321 ) (167,343 )
Total assets less current liabilities 242,585 78,161

Creditors
Amounts falling due after more than one year 7 (209,602 ) -

Provisions for liabilities 8 (25,731 ) -
Net assets 7,252 78,161

Capital and reserves
Called up share capital 9 100 100
Retained earnings 7,152 78,061
Shareholders' funds 7,252 78,161

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

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

The directors acknowledge their 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 ALLOY REPAIRS LTD (REGISTERED NUMBER: 07925071)

BALANCE SHEET - continued
31 JANUARY 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:





Mr A D Cornwell - Director


ACORN ALLOY REPAIRS LTD (REGISTERED NUMBER: 07925071)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. Statutory information

Acorn Alloy Repairs Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07925071. The registered office and business address is Unit 10 Canford Business Park, Magna Road, Wimborne, Dorset, England, BH21 3AP.

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
Turnover represents amounts received in respect of the maintenance and repair of motor vehicles, net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value.

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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

ACORN ALLOY REPAIRS LTD (REGISTERED NUMBER: 07925071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. Accounting policies - continued

Financial instruments
Basic financial instruments are initially recognised at transaction price 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.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 11 (2023 - 9 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 February 2023 305,830 - 140,838 - 446,668
Additions 80,284 638 70,549 5,289 156,760
Disposals (67,350 ) - - - (67,350 )
At 31 January 2024 318,764 638 211,387 5,289 536,078
Depreciation
At 1 February 2023 139,314 - 61,850 - 201,164
Charge for year 52,242 159 32,482 75 84,958
Eliminated on disposal (54,950 ) - - - (54,950 )
At 31 January 2024 136,606 159 94,332 75 231,172
Net book value
At 31 January 2024 182,158 479 117,055 5,214 304,906
At 31 January 2023 166,516 - 78,988 - 245,504

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 February 2023 19,950 140,838 160,788
Additions - 63,949 63,949
At 31 January 2024 19,950 204,787 224,737
Depreciation
At 1 February 2023 4,988 61,850 66,838
Charge for year 3,740 31,197 34,937
At 31 January 2024 8,728 93,047 101,775
Net book value
At 31 January 2024 11,222 111,740 122,962
At 31 January 2023 14,962 78,988 93,950

ACORN ALLOY REPAIRS LTD (REGISTERED NUMBER: 07925071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. Debtors: amounts falling due within one year
2024 2023
as restated
£    £   
Trade debtors 138,966 94,026
Other debtors 7,813 4,421
Directors' current accounts 120,057 192,204
Tax 21,891 -
Prepayments and accrued income 208 -
288,935 290,651

6. Creditors: amounts falling due within one year
2024 2023
as restated
£    £   
Bank loans and overdrafts 10,000 50,000
Hire purchase contracts 96,016 300,762
Trade creditors 18,554 1
Tax 36,704 -
Social security and other taxes 251,868 140,726
VAT 10,556 3,580
Other creditors 4,451 2,571
Accruals and deferred income 7,000 -
435,149 497,640

7. Creditors: amounts falling due after more than one year
2024 2023
as restated
£    £   
Bank loans - 1-2 years 10,000 -
Bank loans - 2-5 years 5,000 -
Hire purchase contracts 194,602 -
209,602 -

8. Provisions for liabilities
2024 2023
as restated
£    £   
Deferred tax 25,731 -

Deferred
tax
£   
Provided during year 25,731
Balance at 31 January 2024 25,731

ACORN ALLOY REPAIRS LTD (REGISTERED NUMBER: 07925071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
100 Ordinary £1 100 100

10. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
as restated
£    £   
Mr A D Cornwell
Balance outstanding at start of year 192,204 -
Amounts advanced 160,639 192,204
Amounts repaid (232,786 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 120,057 192,204

At the balance sheet date the Director owed the company £120,057 (2023: £192,204).

11. Ultimate controlling party

The Company is under the control of the Director (and spouse), by virtue of their combined 100% holding of the issued voting share capital of the Company.

12. First year adoption

These financial statements for the year ended 31 January 2024 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 1 February 2022.

The transition to FRS102 Section 1A small entities has resulted in a small number of changes in accounting policies to those previously used.

The nature of these changes and their impact on opening equity and profit, where applicable, is detailed in the notes to these financial statements.