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Company No: 14469938 (England and Wales)

ACORN HOLIDAY LETS (SW) LIMITED

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

ACORN HOLIDAY LETS (SW) LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

ACORN HOLIDAY LETS (SW) LIMITED

BALANCE SHEET

As at 30 November 2024
ACORN HOLIDAY LETS (SW) LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 30.11.2024 30.11.2023
£ £
Fixed assets
Tangible assets 3 72,659 40,427
72,659 40,427
Current assets
Debtors 4 77,632 41,325
Cash at bank and in hand 0 168
77,632 41,493
Creditors: amounts falling due within one year 5 ( 144,563) ( 78,724)
Net current liabilities (66,931) (37,231)
Total assets less current liabilities 5,728 3,196
Provision for liabilities ( 1,173) ( 774)
Net assets 4,555 2,422
Capital and reserves
Called-up share capital 100 100
Profit and loss account 4,455 2,322
Total shareholders' funds 4,555 2,422

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.

Directors' responsibilities:

The financial statements of Acorn Holiday Lets (SW) Limited (registered number: 14469938) were approved and authorised for issue by the Board of Directors on 29 August 2025. They were signed on its behalf by:

M P Thomas
Director
ACORN HOLIDAY LETS (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
ACORN HOLIDAY LETS (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 period, unless otherwise stated.

General information and basis of accounting

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 £.

Going concern

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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the letting of furnished holiday lets and is recognised in the period in which the tenant occupies the property. This is shown net of sales/value-added tax.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 - 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.

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.

Leases

The Company as lessee
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.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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

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 3 3

3. Tangible assets

Leasehold improve-
ments
Total
£ £
Cost
At 01 December 2023 41,864 41,864
Additions 36,559 36,559
At 30 November 2024 78,423 78,423
Accumulated depreciation
At 01 December 2023 1,437 1,437
Charge for the financial year 4,327 4,327
At 30 November 2024 5,764 5,764
Net book value
At 30 November 2024 72,659 72,659
At 30 November 2023 40,427 40,427

4. Debtors

30.11.2024 30.11.2023
£ £
Amounts owed by connected companies 74,443 41,225
Other debtors 3,189 100
77,632 41,325

5. Creditors: amounts falling due within one year

30.11.2024 30.11.2023
£ £
Trade creditors 18,724 16,450
Amounts owed to connected companies 59,640 32,130
Other taxation and social security 756 1,720
Other creditors 65,443 28,424
144,563 78,724

6. Related party transactions

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.