Company No:
Contents
| Note | 30.11.2024 | 30.11.2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| 72,659 | 40,427 | |||
| Current assets | ||||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 77,632 | 41,493 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current liabilities | (66,931) | (37,231) | ||
| Total assets less current liabilities | 5,728 | 3,196 | ||
| Provision for liabilities | (
|
(
|
||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital |
|
|
||
| Profit and loss account |
|
|
||
| Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Acorn Holiday Lets (SW) Limited (registered number:
|
M P Thomas
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Acorn Holiday Lets (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, 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 £.
The financial statements have been prepared based on a going-concern assumption. The company had net current liabilities of £66,931 at the year-end. There are amounts owed to connected companies of £59,640, and these companies are under partial or full control of M P Thomas (director). There are also amounts included in other creditors owed to a partnership of £60,120, and this partnership is under the partial control of M P Thomas (director). These entities will not seek repayment of the loans for at least 12 months to the extent that any such repayment would jeopardise the future of the company. Therefore, the director considers that the going concern basis is appropriate.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax liabilities are not discounted.
Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
| Leasehold improvements |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
| Year ended 30.11.2024 |
Period from 08.11.2022 to 30.11.2023 |
||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Leasehold improve- ments |
Total | ||
| £ | £ | ||
| Cost | |||
| At 01 December 2023 |
|
|
|
| Additions |
|
|
|
| At 30 November 2024 |
|
|
|
| Accumulated depreciation | |||
| At 01 December 2023 |
|
|
|
| Charge for the financial year |
|
|
|
| At 30 November 2024 |
|
|
|
| Net book value | |||
| At 30 November 2024 | 72,659 | 72,659 | |
| At 30 November 2023 | 40,427 | 40,427 |
| 30.11.2024 | 30.11.2023 | ||
| £ | £ | ||
| Amounts owed by connected companies |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 30.11.2024 | 30.11.2023 | ||
| £ | £ | ||
| Trade creditors |
|
|
|
| Amounts owed to connected companies |
|
|
|
| Other taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
Other related party transactions
During the year, the company entered into a number of transactions with companies which are under the full or partial control of M P Thomas (director). At the year-end, there are amounts owed by connected companies of £74,443 (2023 - £41,225) and amounts owed to connected companies of £59,640 (2023 - £32,130) in connection with these transactions.