Company registration number 04536717 (England and Wales)
ACORN INDUSTRIAL ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ACORN INDUSTRIAL ESTATES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
ACORN INDUSTRIAL ESTATES LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr A A O'Brien
Mr JF Gow
Secretary
Mr JF Gow
Company number
04536717
Registered office
No 1 St Paul's Square
Liverpool
Merseyside
UK
L3 9SJ
Accountants
Hallidays
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
ACORN INDUSTRIAL ESTATES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
1,099,454
1,247,874
Current assets
Cash at bank and in hand
28,257
29,907
Creditors: amounts falling due within one year
4
(1,164)
(1,430)
Net current assets
27,093
28,477
Net assets
1,126,547
1,276,351
Capital and reserves
Called up share capital
5
70
70
Profit and loss reserves
1,126,477
1,276,281
Total equity
1,126,547
1,276,351
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 October 2023 and are signed on its behalf by:
Mr JF Gow
Director
Company registration number 04536717 (England and Wales)
ACORN INDUSTRIAL ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Acorn Industrial Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is No 1 St Paul's Square, Liverpool, Merseyside, UK, L3 9SJ.
1.1
Accounting convention
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 FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
1.2
Taxation
Current tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.
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.
1.3
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
1.4
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliable are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
1.5
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
ACORN INDUSTRIAL ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.6
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.
1.7
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.
1.8
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,099,454
1,247,874
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2022
1,247,874
Disposals
(148,420)
At 31 March 2023
1,099,454
Carrying amount
At 31 March 2023
1,099,454
At 31 March 2022
1,247,874
ACORN INDUSTRIAL ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
266
Other creditors
1,164
1,164
1,164
1,430
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
18
18
18
18
Ordinary B of £1 each
17
17
17
17
Ordinary C of £1 each
18
18
18
18
Ordinary D of £1 each
17
17
17
17
70
70
70
70
ACORN INDUSTRIAL ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
6
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
2023
2022
Amounts due to subsidiary
£
£
At start of period
1,247,874
1,396,403
Repaid
(148,420)
(148,729)
1,099,454
1,247,674
Terms of loans to related parties
The company made interest free loans to the two subsidiaries.