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ACREFIELD INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2024






ACREFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 02564119)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

ACREFIELD INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2024







DIRECTORS: P J Lockhart Smith
Mrs P A Lockhart Smith



SECRETARY: P J Lockhart Smith



REGISTERED OFFICE: The Dower House
Farm Street
Tintinhull
Yeovil
Somerset
BA22 8PZ



REGISTERED NUMBER: 02564119 (England and Wales)



ACCOUNTANTS: JRW Hogg & Thorburn LLP
Chartered Accountants
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL



BANKERS: Handelsbanken
5th Floor
13 Charles II Street
London
SW1Y 4QU

ACREFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 02564119)

BALANCE SHEET
30TH NOVEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 3,289,406 3,266,392
Investments 5 75,000 1,926,593
3,364,406 5,192,985

CURRENT ASSETS
Debtors 6 5,782,584 5,943,464
Cash at bank 339,680 1,948,420
6,122,264 7,891,884
CREDITORS
Amounts falling due within one year 7 255,865 351,030
NET CURRENT ASSETS 5,866,399 7,540,854
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,230,805

12,733,839

CREDITORS
Amounts falling due after more than one
year

8

(1,376,083

)

(1,380,383

)

PROVISIONS FOR LIABILITIES (28,000 ) (60,000 )
NET ASSETS 7,826,722 11,293,456

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 7,825,722 11,292,456
SHAREHOLDERS' FUNDS 7,826,722 11,293,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

ACREFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 02564119)

BALANCE SHEET - continued
30TH NOVEMBER 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th May 2025 and were signed on its behalf by:





P J Lockhart Smith - Director


ACREFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 02564119)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2024

1. STATUTORY INFORMATION

Acrefield Investments 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 as modified by the revaluation of certain assets.

Turnover
The company rents out commercial property. Revenue is recognised in the accounting period to which the rent relates.
Revenue is measured at the fair value of the transaction excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

FRS102 requires Investment Property to be stated at fair value. As explained in the report of the directors, this has not been possible therefore the Investment Property is stated at cost. Depreciation is not provided as the expected residual value is not less than cost.

Financial assets
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income Statement.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


ACREFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 02564119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Investment income
Investment income is credited in the period in which it is received. Dividend income is stated net of the associated tax credit.

Going concern
The directors have considered the potential impact of ongoing worldwide events on the business and are satisfied that the company has sufficient cash reserves to meet all financial obligations for the foreseeable future. The Accounts have therefore been prepared on the going concern basis.

Investments
Investments are shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is transferred to the profit and loss account

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

ACREFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 02564119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024

4. TANGIBLE FIXED ASSETS
Freehold
investment Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st December 2023 3,217,441 9,692 65,038 2,489 3,294,660
Additions 35,258 - - - 35,258
At 30th November 2024 3,252,699 9,692 65,038 2,489 3,329,918
DEPRECIATION
At 1st December 2023 - 9,627 16,259 2,382 28,268
Charge for year - 13 12,195 36 12,244
At 30th November 2024 - 9,640 28,454 2,418 40,512
NET BOOK VALUE
At 30th November 2024 3,252,699 52 36,584 71 3,289,406
At 30th November 2023 3,217,441 65 48,779 107 3,266,392

5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1st December 2023 1,851,593 75,000 1,926,593
Disposals (1,851,593 ) - (1,851,593 )
At 30th November 2024 - 75,000 75,000
NET BOOK VALUE
At 30th November 2024 - 75,000 75,000
At 30th November 2023 1,851,593 75,000 1,926,593

Cost or valuation at 30th November 2024 is represented by:

Unlisted
investments
£   
Valuation in 2023 75,000

The unlisted investment relates to 10% share capital owned in Acrefield Land Limited.

ACREFIELD INVESTMENTS LIMITED (REGISTERED NUMBER: 02564119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,475 2,494
Acrefield Land Limited 5,654,231 5,780,739
Tax 16,000 16,000
VAT 14,595 34,758
Prepayments and accrued income 96,283 109,473
5,782,584 5,943,464

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,541 66,020
Corporation tax - 45,000
Accruals and deferred income 251,324 240,010
255,865 351,030

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Unsecured loans 118,512 118,512
Amounts owed to group undertakings 1,257,571 1,261,871
1,376,083 1,380,383

9. RELATED PARTY DISCLOSURES

At 30th November 2024, a loan balance of £5,654,231 (2023, £5,780,739) was due from Acrefield Land Limited , a company in which Acrefield Investments Limited owns a 10% shareholding.

Acrefield Investments Limited has indicated that it will not seek repayment of this loan until Acrefield Land Limited has alternative finance in place.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ACREFIELD INVESTMENTS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Acrefield Investments Limited for the year ended 30th November 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Acrefield Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Acrefield Investments Limited and state those matters that we have agreed to state to the Board of Directors of Acrefield Investments Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Acrefield Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Acrefield Investments Limited. You consider that Acrefield Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Acrefield Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JRW Hogg & Thorburn LLP
Chartered Accountants
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL


20th May 2025