Company No: 06350759 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	391,487		482,383
		391,487		482,383
Current assets
Stocks	4	681,153		681,153
Debtors	5	8,578,971		6,604,097
Cash at bank and in hand		1,463		1,218
		9,261,587		7,286,468
Creditors: amounts falling due within one year	6	( 8,574,880)		( 6,766,098)
Net current assets		686,707		520,370
Total assets less current liabilities		1,078,194		1,002,753
Creditors: amounts falling due after more than one year	7	( 410,394)		( 282,776)
Provision for liabilities		( 90,544)		( 103,028)
Net assets		577,256		616,949
Capital and reserves
Called-up share capital		100		100
Profit and loss account		577,156		616,849
Total shareholders' funds		577,256		616,949

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Acorn Land (SW) Limited (registered number: 06350759) were approved and authorised for issue by the Board of Directors on 28 August 2026. They were signed on its behalf by:

M P Thomas Director

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 Land (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, Somerset, 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 £.

Turnover

Turnover comprises amounts receivable for construction and development services provided in the ordinary course of business. Revenue is recognised when the contracted services have been performed and the amount of revenue can be measured reliably. Turnover is measured at the fair value of consideration receivable and is stated net of value added tax.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either other debtors or other creditors in the Balance Sheet.

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 assets and liabilities are not discounted. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Other operating income

Other operating income comprises management charges receivable from companies in which the director has an interest and significant influence. Management charges receivable are recognised over the period in which management services are rendered.

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:

Plant and machinery	15 % reducing balance
Vehicles	20 % reducing balance
Fixtures and fittings	15 % reducing balance
Office equipment	25 % reducing balance

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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Stocks

Stocks comprise property development work in progress and are stated at the lower of cost and net realisable value. Cost includes construction costs, subcontractor costs, materials, professional fees and other directly attributable expenditure incurred in development projects. Net realisable value represents the estimated selling price less costs to complete and sell.

Work in progress is reviewed for impairment at each reporting date and any excess of carrying value over net realisable value is 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.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
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.

Ordinary share capital

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	14		13

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 December 2024	840,128		210,398		6,926		12,933		1,070,385
Additions	6,255		0		0		0		6,255
Disposals	( 9,500)		( 37,000)		0		0		( 46,500)
At 30 November 2025	836,883		173,398		6,926		12,933		1,030,140
Accumulated depreciation
At 01 December 2024	440,158		132,254		4,698		10,892		588,002
Charge for the financial year	59,589		12,945		334		509		73,377
Disposals	( 4,512)		( 18,214)		0		0		( 22,726)
At 30 November 2025	495,235		126,985		5,032		11,401		638,653
Net book value
At 30 November 2025	341,648		46,413		1,894		1,532		391,487
At 30 November 2024	399,970		78,144		2,228		2,041		482,383
Leased assets included above:
Net book value
At 30 November 2025	47,724		0		0		0		47,724
At 30 November 2024	56,145		0		0		0		56,145

4. Stocks

	2025		2024
	£		£
Work in progress	681,153		681,153

5. Debtors

	2025		2024
	£		£
Trade debtors	0		22,398
Other debtors	8,578,971		6,581,699
	8,578,971		6,604,097

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured £ 33,333)	38,958		5,486
Trade creditors	1,021,052		1,419,676
Taxation and social security	340,717		332,383
Obligations under finance leases and hire purchase contracts (secured)	77,788		113,324
Other creditors	7,096,365		4,895,229
	8,574,880		6,766,098

Bank loans of £33,333 are secured by a personal guarantee of M P Thomas.
Amounts due under finance leases and hire purchase contracts are secured against the assets by which they are related.

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

	2025		2024
	£		£
Bank loans	20,598		26,194
Obligations under finance leases and hire purchase contracts (secured)	58,394		136,182
Other creditors	331,402		120,400
	410,394		282,776

Obligations under hire purchase contracts are secured over the assets to which they relate.

8. Related party transactions

Transactions with the entity's directors

Advances

The directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 December 2024, the balance owed by the director was £513,061. During the year, £290,250 was advanced to the director and £236,957 was repaid by the director. At 30 November 2025, the balance owed by the director was £566,354.

At 1 December 2023, the balance owed by the director was £448,763. During the year, £449,657 was advanced to the director and £385,359 was repaid by the director. At 30 November 2024, the balance owed by the director was £513,061.

Other related party transactions

During the year the company entered into a number of transactions with other companies in which the director, Mr M P Thomas, has a direct or indirect interest of at least 50% and has a significant influence over. At the year end there are amounts included in other debtors of £7,058,962 (2024 - £5,425,759) and other creditors of £6,732,447 (2024 - £4,345,497) in connection with these transactions.

The balances due to and from related parties are unsecured, interest free and repayable on demand.