Acacia Springs Limited 30/04/2023 iXBRL

ACACIA SPRINGS LIMITED - Company Information

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Company registration number: 10155711

Acacia Springs Limited

Unaudited filleted financial statements

30 April 2023

Acacia Springs Limited

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

Acacia Springs Limited

Directors and other information


	Directors	Mr S Shah
		Mrs N Shah


	Company number	10155711


	Registered office	Second Floor
		87 Kenton Road
		Harrow
		Middlesex
		HA3 0AH


	Accountants	Leftley Rowe & Company
		Second Floor
		87 Kenton Road
		Harrow
		Middlesex
		HA3 0AH

Acacia Springs Limited

Statement of financial position

30 April 2023

		2023		2022
	Note	£	£	£	£

Fixed assets
Tangible assets	5	619,975		619,975
		_______		_______
			619,975		619,975

Current assets
Cash at bank and in hand		5,055		53,722
		_______		_______
		5,055		53,722
Creditors: amounts falling due
within one year	6	( 412,468)		( 417,308)
		_______		_______
Net current liabilities			( 407,413)		( 363,586)
			_______		_______
Total assets less current liabilities			212,562		256,389

Creditors: amounts falling due
after more than one year	7		( 72,847)		( 138,503)
			_______		_______
Net assets			139,715		117,886
			_______		_______

Capital and reserves
Called up share capital			4		4
Profit and loss account			139,711		117,882
			_______		_______
Shareholders funds			139,715		117,886
			_______		_______

For the year ending 30 April 2023 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 year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 13 November 2023 , and are signed on behalf of the board by:

Mr S Shah

Director

Company registration number: 10155711

Acacia Springs Limited

Notes to the financial statements

Year ended 30 April 2023

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Second Floor, 87 Kenton Road, Harrow, Middlesex, HA3 0AH.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover represents the total value of rent receivable for the period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets represent investment property.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2022: Nil).

5. Tangible assets

	Freehold property	Total
	£	£
Cost
At 1 May 2022 and 30 April 2023	619,975	619,975
	_______	_______
Depreciation
At 1 May 2022 and 30 April 2023	-	-
	_______	_______
Carrying amount
At 30 April 2023	619,975	619,975
	_______	_______
At 30 April 2022	619,975	619,975
	_______	_______

Investment property

Included within the above is investment property measured at fair value as follows:

		£
	At 1 May 2022 and 30 April 2023	619,975
		_______

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	7,200	14,130
Corporation tax	7,008	12,768
Social security and other taxes	3,568	3,743
Other creditors	394,692	386,667
	_______	_______
	412,468	417,308
	_______	_______

The bank loan is secured over the company's investment property.

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

	2023	2022
	£	£
Bank loans and overdrafts	72,847	138,503
	_______	_______

The bank loan is secured over the company's investment property.

8. Related party transactions

Included in Creditors due within one year are directors' loans of £387,134 (2022: £370,034) which represent interest-free loans from the two directors to assist with the working capital requirements of the company.