Registered number: SC167335 | ||||||||
FOR THE YEAR ENDED 31 JULY 2024 | ||||||||
Acretown Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 JULY 2024 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
City of Edinburgh | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in SC - Scotland, registered number SC167335 | ||||||||
ACCOUNTANTS | ||||||||
Hodgson and Company | ||||||||
16 Barnes Green | ||||||||
Livingston | ||||||||
West Lothian | ||||||||
EH54 8PP |
Acretown Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31 JULY 2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
Acretown Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | ||||||||||
CURRENT ASSETS | ||||||||||
Debtors | 3 | |||||||||
Cash at bank and in hand | ||||||||||
234,181 | 213,051 | |||||||||
CREDITORS: Amounts falling due within one year | 4 | |||||||||
NET CURRENT ASSETS | 49,611 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 5 | 1,345,000 | 1,345,000 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | ||||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | ||||||||||
Revaluation reserve | 1d, | 1,017,682 | 926,384 | |||||||
Profit and loss account | 975,433 | 970,665 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Acretown Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 JULY 2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. |
1b. Depreciation | ||||||||
Equipment | 25% |
1c. Investment Properties | ||||||||
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view. |
1d. Revaluation Reserve | ||||||||
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note ). | ||||||||
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account. |
1e. |
1f. Turnover | ||||||||
Turnover represents the value of rents receivable, net of Value Added Tax. |
Acretown Limited | ||||||||
2. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 1 August 2023 | 3,330,000 | 3,330,000 | ||||||
Revaluation | 166,500 | 166,500 | ||||||
At 31 July 2024 | 3,496,500 | 3,496,500 | ||||||
The investment properties were valued on an open market basis by the directors on 31 July 2024. | ||||||||
If the investment properties had not been revalued they would have been included at an historical cost value of £2,255,623 (2023: £2,092,745). | ||||||||
3. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 17,758 | 61,804 | ||||||
VAT | - | 3,337 | ||||||
Other debtors | 300 | 300 | ||||||
Prepayments | 7,966 | 14,521 | ||||||
Loans | 38,619 | 38,619 | ||||||
Directors current account | 8,625 | 8,625 | ||||||
73,268 | 127,206 | |||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 37,956 | 50,350 | ||||||
VAT | 8,223 | - | ||||||
Directors current account | 5,514 | 1,334 | ||||||
Bank Loan | 30,000 | 30,000 | ||||||
Other creditors | 65,462 | 65,462 | ||||||
Accruals | 9,892 | 14,959 | ||||||
Deferred income | 12,610 | 1,335 | ||||||
169,657 | 163,440 | |||||||
Acretown Limited | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans | 1,345,000 | 1,345,000 | ||||||
1,345,000 | 1,345,000 | |||||||
6. SECURED CREDITORS | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Amount of bank loans and overdrafts which are secured | 1,375,000 | 1,375,000 | ||||||
The loan from Hampden & Co PLC is secured by means of a standard security over all of the assets of the company. | ||||||||
7. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 2 | |||||