Company No: 12171147 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Current assets
Stocks	3	2,206,907		888,816
Debtors	4	779,381		49,549
		2,986,288		938,365
Creditors: amounts falling due within one year	5	( 203,524)		( 247,398)
Net current assets		2,782,764		690,967
Total assets less current liabilities		2,782,764		690,967
Creditors: amounts falling due after more than one year	6	( 3,017,135)		( 767,815)
Net liabilities		( 234,371)		( 76,848)
Capital and reserves
Called-up share capital		1		1
Profit and loss account		( 234,372 )		( 76,849 )
Total shareholder's deficit		( 234,371)		( 76,848)

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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges 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 Developments 3 (SW) Limited (registered number: 12171147) were approved and authorised for issue by the Director 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 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, 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 on a going concern basis.
The Company has net liabilities of £234,371 at the balance sheet date. Included within creditors are amounts of £25,389 owed to fellow group companies and £105,629 owed to companies under the control of M P Thomas (director).
The director has received confirmation that these entities will continue to provide financial support and will not seek repayment of amounts owed where such repayment would jeopardise the Company's ability to continue trading for a period of at least twelve months from the date of approval of these financial statements.
Accordingly, the director considers it appropriate to prepare the financial statements on the going concern basis.

Borrowing costs

Loans and borrowings are initially recognised at the transaction price, net of directly attributable transaction costs, and are subsequently measured at amortised cost using the effective interest method.
Interest payable and other finance costs are recognised in profit or loss using the effective interest method over the term of the borrowing.
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.
Loans and borrowings are derecognised when the Company’s contractual obligations are discharged, cancelled or expire.

Stocks

Stocks comprise property development work in progress and are stated at the lower of cost and net realisable value.
Cost includes land acquisition costs, construction costs, professional fees, directly attributable development expenditure and other costs incurred in bringing development properties to their present condition.
Net realisable value represents the estimated selling price of completed developments less costs to complete and sell.
At each reporting date, work in progress is reviewed for impairment 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.

Ordinary share capital

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

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Stocks

	2025		2024
	£		£
Work in progress	2,206,907		888,816

4. Debtors

	2025		2024
	£		£
Other debtors	779,381		49,549

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	8		20
Trade creditors	7,498		11,246
Amounts owed to Group undertakings	25,389		130,503
Other creditors	170,629		105,629
	203,524		247,398

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

	2025		2024
	£		£
Bank loans (secured)	3,017,135		767,815

£385,911 of the above is secured by the following: A second ranking legal charge, Debenture, Personal Guarantee, Deed of Priority.
The remaining £2,631,224 is secured by fixed charge, floating charge and negative pledge over the company's assets and undertakings.

(2024 - 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 £2,631,224 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, there are amounts owed to group undertakings of £25,389 (2024: £130,503) 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 M P Thomas (director). At the year end, there are amounts included in other debtors of £779,381 (2024: £49,549) and other creditors of £105,629 (2024: £105,629) in connection with these transactions.

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