Acorn Developments (Kirkby) Limited - Accounts to registrar - small 17.2
Acorn Developments (Kirkby) Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2016 |
| for |
| Acorn Developments (Kirkby) Limited |
| Acorn Developments (Kirkby) Limited (Registered number: 06211467) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Acorn Developments (Kirkby) Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| 3 Kingfisher Court |
| Bowesfield Park |
| Stockton on Tees |
| TS18 3EX |
| Acorn Developments (Kirkby) Limited (Registered number: 06211467) |
| Balance Sheet |
| 31 December 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Non distributable reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| Acorn Developments (Kirkby) Limited (Registered number: 06211467) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| Acorn Developments (Kirkby) Limited is a private company, limited by shares, registered in England and Wales. |
| The company's registered number and registered office address can be found on the Company Information page. |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to |
| the nearest £. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The significant accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all years presented unless otherwise stated. The company |
| adopted FRS 102 in the current year and an explanation of how transition to FRS 102 has affected the reported |
| financial position and performance is given in the notes to the financial statements. |
| Turnover |
| Turnover represents rents receivable, management and service charges and sales of plant and equipment, |
| excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Computer equipment | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| fair value is recognised in profit or loss. |
| Tax |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
| current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
| rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
| statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
| exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated |
| in the financial statements that arise from the inclusion of income and expense in tax assessments in periods |
| different from those in which they are recognised in the financial statements. Unrelieved tax losses and other |
| deferred tax assets are recognised only 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 |
| balance sheet date that are expected to apply to the reversal of timing differences. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the profit/(loss) on ordinary |
| activities. |
| Acorn Developments (Kirkby) Limited (Registered number: 06211467) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Debtors and creditors receivable/payable |
| Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any |
| losses arising from impairment are recognised in the income statement in other administrative expenses. |
| Leasing commitments |
| Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line |
| basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2016 |
| Revaluations | (1,300,000 | ) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| The investment property is held at fair value based on the current market conditions. |
| Acorn Developments (Kirkby) Limited (Registered number: 06211467) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 6. | DEBTORS |
| 2016 | 2015 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Prepayments and accrued income |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 25,168 | 62,792 |
| Other creditors |
| Amounts due to related parties | 125,000 | 100,000 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Amounts due to related parties | 1,183,125 | 1,308,125 |
| Accruals and deferred income |
| 9. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £ | £ |
| Deferred taxation | 425,000 | 629,000 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2016 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 December 2016 |
| Acorn Developments (Kirkby) Limited (Registered number: 06211467) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| 11. | RESERVES |
| Non |
| Retained | distributable |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2016 | 1,823,095 |
| Deficit for the year | ( |
) | ( |
) |
| Transfer to/from non |
| distributable reserve | 1,096,000 | (1,096,000 | ) | - |
| At 31 December 2016 | 1,123,353 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 13. | FINANCIAL COMMITMENTS |
| Total financial commitments which are not included in the balance sheet amount to £37,957,500 (2015: |
| £38,115,000). This relates to a 250 year lease agreement for rental of land and buildings. |
| This is made up of annual rent £157,500 X 241 years remaining on lease. |
| 14. | ULTIMATE HOLDING COMPANY |
| Kirkby Acorn Group LLC, a limited liability company registered in the United States of America, is the ultimate |
| controlling party. |