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Audited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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ACORN ESTATE MANAGEMENT LIMITED |
REGISTERED NUMBER:
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Audited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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ACORN ESTATE MANAGEMENT LIMITED |
ACORN ESTATE MANAGEMENT LIMITED (REGISTERED NUMBER: 05043554) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ACORN ESTATE MANAGEMENT LIMITED |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Certified Accountants |
Statutory Auditors |
1 Brook Court |
Blakeney Road |
Beckenham |
Kent BR3 1HG |
ACORN ESTATE MANAGEMENT LIMITED (REGISTERED NUMBER: 05043554) |
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Balance Sheet |
31 December 2021 |
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31.12.21 | 31.12.20 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ACORN ESTATE MANAGEMENT LIMITED (REGISTERED NUMBER: 05043554) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Acorn Estate Management Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
The turnover shown in the profit and loss account represents the value of work carried out in the period excluding value added tax. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Amounts owed by group undertakings |
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All debtors are payable within one year and have therefore not been discounted. |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Taxation and social security |
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All creditors are payable within one year and have therefore not been discounted. |
ACORN ESTATE MANAGEMENT LIMITED (REGISTERED NUMBER: 05043554) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | OTHER FINANCIAL COMMITMENTS |
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The company has entered to a debenture with the bank in respect of all of the group's liabilities. There was also a guarantee in respect of Acorn Investment Properties Limited (a non- group company) for £999,999 and another third party guarantee for £1,300,000. |
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8. | RELATED PARTY DISCLOSURES |
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The company is a subsidiary of Acorn Limited. To benefit from being part of a group, costs and revenues are centrally processed. These amounts are then allocated to a specific branch or division on a direct basis along with an allocation of indirect and Head Office costs. The company received £1,131,786 (£1,095,954 - 2020) in respect of property related income from Acorn Limited. Acorn Limited paid £1,024,678 (£880,971 - 2020) of the administration costs on behalf of the company which were then reimbursed by the company. £155,230 (£171,744- 2020) was owed by the holding company at the year end. |
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The company paid a dividend to Acorn Limited of £70,000 (£130,000 - 2020). |
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9. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |