Registration number: 15768410

Acorns (Southern) Propco Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

Acorns (Southern) Propco Limited

Company Information

Directors

H G A Foster F K Stuart M O'Malley

Registered office

The Barn Calcot Mount Business Park Calcot Lane Curdridge Hampshire SO32 2BN

Auditors

Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Acorns (Southern) Propco Limited

(Registration number: 15768410)
Balance Sheet as at 31 March 2025

	Note	31 March 2025 £
Fixed assets
Tangible assets	5	4,567,965
Current assets
Debtors	6	174,294
Creditors: Amounts falling due within one year	7	(4,628,555)
Net current liabilities		(4,454,261)
Net assets		113,704
Capital and reserves
Called up share capital		1
Retained earnings		113,703
Shareholders' funds		113,704

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 December 2025 and signed on its behalf by:
 

F K Stuart
Director

Acorns (Southern) Propco Limited

Notes to the Financial Statements for the Period from 7 June 2024 to 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Barn
Calcot Mount Business Park
Calcot Lane
Curdridge
Hampshire
SO32 2BN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Name of parent of group

These financial statements are consolidated in the financial statements of Ignite (Acorns) Limited.

The financial statements of Ignite (Acorns) Limited may be obtained from Companies House.

Disclosure of long or short period

The financial statements cover a period of 298 days. This is to bring the year end in line with that of its ultimate parent undertaking, Ignite (Acorns) Limited.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Acorns (Southern) Propco Limited

Notes to the Financial Statements for the Period from 7 June 2024 to 31 March 2025

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land	Nil
Freehold property	Straight line over 40 years
Leasehold property	Straight line over 40 years

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Acorns (Southern) Propco Limited

Notes to the Financial Statements for the Period from 7 June 2024 to 31 March 2025

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was as follows:

	7 June 2024 to 31 March 2025  No.
Average number of employees	4

4

Auditors' remuneration

Auditors' remuneration has been borne by a connected company.

Acorns (Southern) Propco Limited

Notes to the Financial Statements for the Period from 7 June 2024 to 31 March 2025

5

Tangible assets

	Land and buildings £
Cost
Additions and at 31 March 2025	4,615,981
Depreciation
Charge for the period and at 31 March 2025	48,016
Carrying amount
At 31 March 2025	4,567,965

Included within the net book value of land and buildings above is £4,174,011 in respect of freehold land and buildings and £393,954 in respect of leasehold buildings.

6

Debtors

	2025 £
Amounts owed by group undertakings	20,673
Prepayments	21,364
Other debtors	132,257
	174,294

7

Creditors

	2025 £
Due within one year
Amounts due to group undertakings	4,609,500
Accruals and deferred income	16,045
Other creditors	3,010
	4,628,555

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £6,500,000. The company is bound by an intra-group cross guarantee in respect of the bank debt with other members of the group at the balance sheet date.

9

Related party transactions

Summary of transactions with other related parties

During the year, the company received rental income and paid overhead expenses to a company which is controlled by the ultimate controlling party. The rental income amounted to £133,930 and expenses amounted to £1,673. As at 31 March 2025, there was £132,257 receivable.
 

10

Non adjusting events after the financial period

On 4 June 2025, the Company acquired a freehold property for a total consideration of £611,688.

Acorns (Southern) Propco Limited

Notes to the Financial Statements for the Period from 7 June 2024 to 31 March 2025

11

Parent and ultimate parent undertaking

The company's immediate parent is Acorns (Southern) Bidco Limited, incorporated in England and Wales.

 The ultimate parent is Ignite (Acorns) Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Ignite (Acorns) Limited. These financial statements are available upon request from Companies House.

 Up until 12 May 2025, the ultimate controlling party was Kvika Securities Ltd, incorporated in England and Wales.

Since 12 May 2025, the ultimate controlling party is Harpa Capital Partners II.

12

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 10 December 2025 was Stephanie Hayman, who signed for and on behalf of Hazlewoods LLP.