Silverfin false false 31/12/2024 01/01/2024 31/12/2024 C J Knight 15/07/2024 D J Partridge 15/07/2024 K M Williams 15/07/2024 27/05/1999 R S Williams 15/07/2024 27/05/1999 22 April 2025 The principal activity of the Company is that of hoteliers. 02162404 2024-12-31 02162404 bus:Director1 2024-12-31 02162404 bus:Director2 2024-12-31 02162404 bus:Director3 2024-12-31 02162404 bus:Director4 2024-12-31 02162404 2023-12-31 02162404 core:CurrentFinancialInstruments 2024-12-31 02162404 core:CurrentFinancialInstruments 2023-12-31 02162404 core:ShareCapital 2024-12-31 02162404 core:ShareCapital 2023-12-31 02162404 core:RetainedEarningsAccumulatedLosses 2024-12-31 02162404 core:RetainedEarningsAccumulatedLosses 2023-12-31 02162404 core:Goodwill 2023-12-31 02162404 core:Goodwill 2024-12-31 02162404 core:LandBuildings 2023-12-31 02162404 core:FurnitureFittings 2023-12-31 02162404 core:ComputerEquipment 2023-12-31 02162404 core:LandBuildings 2024-12-31 02162404 core:FurnitureFittings 2024-12-31 02162404 core:ComputerEquipment 2024-12-31 02162404 bus:OrdinaryShareClass1 2024-12-31 02162404 2024-01-01 2024-12-31 02162404 bus:FilletedAccounts 2024-01-01 2024-12-31 02162404 bus:SmallEntities 2024-01-01 2024-12-31 02162404 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02162404 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02162404 bus:Director1 2024-01-01 2024-12-31 02162404 bus:Director2 2024-01-01 2024-12-31 02162404 bus:Director3 2024-01-01 2024-12-31 02162404 bus:Director4 2024-01-01 2024-12-31 02162404 core:Goodwill core:TopRangeValue 2024-01-01 2024-12-31 02162404 core:Goodwill 2024-01-01 2024-12-31 02162404 core:LandBuildings core:TopRangeValue 2024-01-01 2024-12-31 02162404 core:FurnitureFittings core:BottomRangeValue 2024-01-01 2024-12-31 02162404 core:FurnitureFittings core:TopRangeValue 2024-01-01 2024-12-31 02162404 core:ComputerEquipment core:BottomRangeValue 2024-01-01 2024-12-31 02162404 core:ComputerEquipment core:TopRangeValue 2024-01-01 2024-12-31 02162404 2023-01-01 2023-12-31 02162404 core:LandBuildings 2024-01-01 2024-12-31 02162404 core:FurnitureFittings 2024-01-01 2024-12-31 02162404 core:ComputerEquipment 2024-01-01 2024-12-31 02162404 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 02162404 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02162404 (England and Wales)

ACORN HOTELS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

ACORN HOTELS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ACORN HOTELS LIMITED

BALANCE SHEET

As at 31 December 2024
ACORN HOTELS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Intangible assets 4 16,250 32,500
Tangible assets 5 1,441,588 1,470,108
1,457,838 1,502,608
Current assets
Stocks 7,582 8,794
Debtors 6 379,260 42,818
Cash at bank and in hand 234,537 334,411
621,379 386,023
Creditors: amounts falling due within one year 7 ( 97,163) ( 100,030)
Net current assets 524,216 285,993
Total assets less current liabilities 1,982,054 1,788,601
Net assets 1,982,054 1,788,601
Capital and reserves
Called-up share capital 8 229,275 229,275
Profit and loss account 1,752,779 1,559,326
Total shareholder's funds 1,982,054 1,788,601

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Acorn Hotels Limited (registered number: 02162404) were approved and authorised for issue by the Board of Directors on 22 April 2025. They were signed on its behalf by:

D J Partridge
Director
C J Knight
Director
ACORN HOTELS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ACORN HOTELS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Acorn Hotels Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 87 Fore Street, North Petherton, TA6 6QA, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Generally, turnover is the value of goods and services sold to third parties as part of the company's trading activities, after deducting VAT.

The rental of rooms and food and beverage sales is recognised when rooms are occupied and food and beverages are sold.

Rental income is recognised when it is receivable.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Fixtures and fittings 4 - 10 years straight line
Computer equipment 4 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Prior year adjustment

A prior year adjustment has been made to charge depreciation from 2020 (being the point the property moved from investment property to fixed assets) to 2023 at 2% straight line on the cost of the building only. This better reflects the underlying use of the asset.

As previously reported Adjustment As restated
Year ended 31 December 2023 £ £ £
Profit and loss account 1,649,326 (90,000) 1,559,326
Land and buildings net book value 1,500,000 (90,000) 1,410,000
Depreciation charge 9,279 22,500 31,779

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 26 28

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 325,000 325,000
At 31 December 2024 325,000 325,000
Accumulated amortisation
At 01 January 2024 292,500 292,500
Charge for the financial year 16,250 16,250
At 31 December 2024 308,750 308,750
Net book value
At 31 December 2024 16,250 16,250
At 31 December 2023 32,500 32,500

5. Tangible assets

Land and buildings Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 January 2024 1,500,000 367,280 54,975 1,922,255
Additions 0 3,915 0 3,915
Disposals 0 ( 16,804) ( 36,592) ( 53,396)
At 31 December 2024 1,500,000 354,391 18,383 1,872,774
Accumulated depreciation
At 01 January 2024 90,000 308,560 53,587 452,147
Charge for the financial year 22,500 7,798 1,296 31,594
Disposals 0 ( 15,963) ( 36,592) ( 52,555)
At 31 December 2024 112,500 300,395 18,291 431,186
Net book value
At 31 December 2024 1,387,500 53,996 92 1,441,588
At 31 December 2023 1,410,000 58,720 1,388 1,470,108

6. Debtors

2024 2023
£ £
Trade debtors 18,563 6,684
Amounts owed by Group undertakings 356,565 0
Amounts owed by directors 0 25,997
Prepayments 2,896 2,712
Other debtors 1,236 7,425
379,260 42,818

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 51,040 43,077
Accruals 13,875 4,358
Other taxation and social security 31,256 51,134
Other creditors 992 1,461
97,163 100,030

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
229,275 Ordinary shares of £ 1.00 each 229,275 229,275

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due from directors 0 25,997

Advances made to the directors during the year ended 31 December 2024 totalled £2,680 (2023: £6,077), of which £28,677 (2023: £4,167) has been repaid during the year. As at 31 December 2024, the amount due to the company was £nil (2023: £25,997). Interest is charged on the loan at HMRC's official rate of interest, and the loan is repayable on demand.