Acorn Cottage Limited - Period Ending 2021-01-31

Acorn Cottage Limited

Contents

 

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Acorn Cottage Limited

Registration number: 06040342

Balance Sheet as at 31 January 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	1	1
Current assets
Debtors	5	14,325	18,795
Cash at bank and in hand		7,640	8,827
		21,965	27,622
Creditors: Amounts falling due within one year	6	(16,041)	(14,151)
Net current assets		5,924	13,471
Net assets		5,925	13,472
Capital and reserves
Called up share capital		500	500
Profit and loss account		5,425	12,972
Total equity		5,925	13,472

The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

Acorn Cottage Limited

Registration number: 06040342

Balance Sheet as at 31 January 2021 (continued)

For the financial year ending 31 January 2021 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 4 October 2021 and signed on its behalf by:
 

 

M D Brighty

Company secretary and director

Acorn Cottage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021

1	General information

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

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
3 Millington Close
Reading
Berkshire
RG2 7LR
United Kingdom

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Acorn Cottage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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.

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.

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
Fixtures, fittings and equipment	33.3% straight line

Acorn Cottage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

Acorn Cottage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021 (continued)

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 February 2020	1,042	1,042
At 31 January 2021	1,042	1,042
Depreciation
At 1 February 2020	1,041	1,041
At 31 January 2021	1,041	1,041
Carrying amount
At 31 January 2021	1	1
At 31 January 2020	1	1

5

Debtors

	2021 £	2020 £
Trade debtors	10,683	14,645
Other debtors	3,642	4,150
Total current trade and other debtors	14,325	18,795

Acorn Cottage Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2021 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020 £
Due within one year
Directors' loan account		342	626
Taxation and social security		13,759	11,592
Other creditors		1,940	1,933
		16,041	14,151

7	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary A of £1 each	250	250	250	250
Ordinary B of £1 each	250	250	250	250
	500	500	500	500