ACORN_TECHNOLOGIES_LTD - Accounts

ACORN TECHNOLOGIES LTD - Company Information

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Company Registration No. 06961913 (England and Wales)

ACORN TECHNOLOGIES LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

ACORN TECHNOLOGIES LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ACORN TECHNOLOGIES LTD

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2014

- 1 -

2014

2013

Notes

Current assets

Stocks

604

Debtors

15,912

38,871

Cash at bank and in hand

85,284

101,117

101,800

139,988

Creditors: amounts falling due within one year

(92,324)

(132,874)

Total assets less current liabilities

9,476

7,114

Capital and reserves

Called up share capital

Profit and loss account

9,394

7,032

Shareholders' funds

9,476

7,114

For the financial year ended 30 September 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 June 2015

Mr D Remnant

Director

Company Registration No. 06961913

ACORN TECHNOLOGIES LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% straight line

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Share capital

2014

2013

Allotted, called up and fully paid

80 "A" Ordinary Shares of £1 each

1 "B" Ordinary Shares of £1 each

1 "C" Ordinary Shares of £1 each

ACORN TECHNOLOGIES LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2014

- 3 -

Related party relationships and transactions

Loans from directors

The following director had interest free loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr D Remnant

Loan from director

57,335

32,244

25,091

57,335

32,244

25,091

Included in creditors:amounts falling due within one year is an interest free loan from the director of £25,091 (2013: £57,335). There are no fixed terms for repayment.