REGISTERED NUMBER: 05697723 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

FOR

ACORN ASSOCIATES INC. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Lee

REGISTERED OFFICE:

593 Anlaby Road

Hull

East Yorkshire

HU3 6ST

REGISTERED NUMBER:

05697723 (England and Wales)

ACCOUNTANTS:

Holdstock Nicholls Train & Co

593 Anlaby Road

Kingston Upon Hull

East Yorkshire

HU3 6ST

FIXED ASSETS

-

Intangible assets

4

-

1,610

Tangible assets

5

1,795

1,610

1,795

CURRENT ASSETS

16,257

Debtors

6

16,257

1,348

Cash at bank

1,868

17,605

18,125

CREDITORS

18,881

Amounts falling due within one year

7

16,774

(1,276

)

NET CURRENT ASSETS/(LIABILITIES)

1,351

334

TOTAL ASSETS LESS CURRENT LIABILITIES

3,146

192

PROVISIONS FOR LIABILITIES

341

142

NET ASSETS

2,805

CAPITAL AND RESERVES

100

Called up share capital

100

42

Retained earnings

2,705

142

SHAREHOLDERS' FUNDS

2,805

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30th August 2018 and were signed by:

D Lee - Director

1.	STATUTORY INFORMATION

Acorn Associates Inc. 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents commissions receivable within the accounting period.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Office equipment

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2017

and 31st March 2018

50,000

AMORTISATION

At 1st April 2017

and 31st March 2018

50,000

NET BOOK VALUE

At 31st March 2018

-

At 31st March 2017

-

5.	TANGIBLE FIXED ASSETS

Office

Computer

Totals

equipment

equipment

£

£

£

COST

At 1st April 2017

8,271

3,132

5,139

Additions

598

-

598

At 31st March 2018

8,869

3,132

5,737

DEPRECIATION

At 1st April 2017

6,661

2,576

4,085

Charge for year

413

83

330

At 31st March 2018

7,074

2,659

4,415

NET BOOK VALUE

At 31st March 2018

1,795

473

1,322

At 31st March 2017

1,610

556

1,054

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Computer

equipment

£

COST

At 1st April 2017

758

Transfer to ownership

(758

)

At 31st March 2018

-

DEPRECIATION

At 1st April 2017

158

Transfer to ownership

(158

)

At 31st March 2018

-

NET BOOK VALUE

At 31st March 2018

-

At 31st March 2017

600

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

10,734

10,734

Other debtors

5,523

5,523

16,257

16,257

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

68

Trade creditors

-

1

Taxation and social security

5,311

6,809

Other creditors

11,463

12,003

16,774

18,881

8.	RELATED PARTY DISCLOSURES