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Company No: 12171147 (England and Wales)

ACORN DEVELOPMENTS 3 (SW) LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

ACORN DEVELOPMENTS 3 (SW) LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

ACORN DEVELOPMENTS 3 (SW) LIMITED

BALANCE SHEET

As at 30 November 2024
ACORN DEVELOPMENTS 3 (SW) LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Current assets
Stocks 3 888,816 0
Debtors 4 49,549 10,423
938,365 10,423
Creditors: amounts falling due within one year 5 ( 247,398) ( 6,804)
Net current assets 690,967 3,619
Total assets less current liabilities 690,967 3,619
Creditors: amounts falling due after more than one year 6 ( 767,815) 0
Net (liabilities)/assets ( 76,848) 3,619
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 76,849 ) 3,618
Total shareholder's (deficit)/funds ( 76,848) 3,619

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Acorn Developments 3 (SW) Limited (registered number: 12171147) were approved and authorised for issue by the Director on 29 August 2025. They were signed on its behalf by:

M Thomas
Director
ACORN DEVELOPMENTS 3 (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
ACORN DEVELOPMENTS 3 (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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 Developments 3 (SW) 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 40 Kingston House, 1 Kingston Road, Taunton, TA2 7ED, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £76,848. The Company is supported through loans from fellow group companies of £130,503. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the fellow group companies will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Assets held under hire purchase agreements are capitalised as tangible fixed assets with the future obligation being recognised as a liability. Finance costs are recognised in the Profit and Loss Account calculated at a constant periodic rate of interest over the term of the liability.

Stocks

Stocks comprises work in progress and is stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Stocks

2024 2023
£ £
Work in progress 888,816 0

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 0 9,343
Other debtors 49,549 1,080
49,549 10,423

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 20 0
Trade creditors 11,246 1,080
Amounts owed to Group undertakings 130,503 0
Other creditors 105,629 5,724
247,398 6,804

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 767,815 0

Bank loans totalling £767,815 are secured by way of a fixed charge, floating charge and negative pledge over the company's assets and undertakings.

7. Related party transactions

Transactions with the entity's director

There is a personal guarantor provided by M Thomas (director) for the sum of £660,000 plus interest, costs and fees against bank loans of £767,815 included in creditors falling due after more than one year.

Other related party transactions

During the year, the company entered into a number of transactions with fellow group companies. At the year-end end there are amounts owed by group undertakings of £Nil (2023 - £9,343) and amounts owed to group undertakings of £130,503 (2023 - £Nil) in connection with these transactions.
During the year, the company entered into a number of transactions with other companies which are under the control of Mr M P Thomas (director). At the year-end end there are amounts included in other debtors of £49,549 (2023 - £1,080) and other creditors of £105,629 (2023 - £5,724) in connection with these transactions.