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Registered Number: 03552923
England and Wales

 

 

 

ACORN FINANCIAL SOLUTIONS LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 May 2024

End date: 30 April 2025
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 4 3,027    1,989 
3,027    1,989 
Current assets      
Debtors: amounts falling due within one year 3,797    21,482 
Debtors: amounts falling due after one year 921    1,118 
Cash at bank and in hand 34,844    36,935 
39,562    59,535 
Creditors: amount falling due within one year (12,517)   (10,258)
Net current assets 27,045    49,277 
 
Total assets less current liabilities 30,072    51,266 
Creditors: amount falling due after more than one year (9,442)   (11,235)
Provisions for liabilities (603)   (308)
Net assets 20,027    39,723 
 

Capital and reserves
     
Called up share capital 5 2    2 
Profit and loss account 20,025    39,721 
Shareholders' funds 20,027    39,723 
 


For the year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 01 June 2025 and were signed by:


-------------------------------
Debby Norris
Director
1
General Information
Acorn Financial Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 03552923, registration address 99 Brentwood Road, Brighton, East Sussex, BN1 7ET.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard).
Going concern basis
The director believes that the company is experiencing good levels of sales and profitability.  The company is well placed to manage its business risks.  Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 
Fixtures and Fittings 4 years Straight Line
Computer Equipment 2 years Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2024 : 3).
3.

Financial Commitments, Guarantees and Contingencies

The company received a Bounce Back Loan in November of 2020 following numerous lockdowns imposed during the Coronavirus pandemic.
This is a 100% government backed loan and there is no personal guarantee required by the Director.
The first year only interest was due to be paid, and this has been charged to the Profit and Loss account as Bank Loan interest paid.
The monies received from the government to pay this interest in the first year has been credited to Government Grants in the Profit and Loss Account.
Interest payable across the remaining ten years of the duration of this loan, following an application to extend the repayment period, has been prepaid on the balance sheet under Debtors greater than one year.  This interest will be released on a straight line basis over the duration of the loan, repayable by 3 December 2030.

4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 May 2024 2,384    7,495    9,879 
Additions   3,374    3,374 
Disposals   (1,833)   (1,833)
Transfers   (2,615)   (2,615)
At 30 April 2025 2,384    6,421    8,805 
Depreciation
At 01 May 2024 2,362    2,913    5,275 
Charge for year 22    1,835    1,857 
On disposals   (1,354)   (1,354)
At 30 April 2025 2,384    3,394    5,778 
Net book values
Closing balance as at 30 April 2025   3,027    3,027 
Opening balance as at 01 May 2024 22    1,967    1,989 


5.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2025
£
  2024
£
2 Class A shares of £1.00 each  
 

2