Registration number:
Acre Company UK Limited
for the Year Ended 31 May 2018
Chartered Accountants
39 High Street
Battle
East Sussex
TN33 0EE
Acre Company UK Limited
Contents
Company Information |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
Acre Company UK Limited
Company Information
Director |
Gregory Zaks |
Company secretary |
Mrs Violet Zaks |
Registered office |
|
Accountants |
|
Page 1 |
Acre Company UK Limited
(Registration number: 03006361)
Balance Sheet as at 31 May 2018
Note |
2018 |
2017 |
|
Fixed assets |
|||
Investment property |
|
|
|
Current assets |
|||
Cash at bank and in hand |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Revaluation reserve |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Gregory Zaks
Director
Page 2 |
Acre Company UK Limited
Statement of Changes in Equity for the Year Ended 31 May 2018
Share capital |
Revaluation reserve |
Profit and loss account |
Total |
|
At 1 June 2017 |
|
|
|
|
Profit for the year |
- |
- |
|
|
Total comprehensive income |
- |
- |
|
|
At 31 May 2018 |
|
|
|
|
Share capital |
Revaluation reserve |
Profit and loss account |
Total |
|
At 1 June 2016 |
|
|
|
|
Profit for the year |
- |
- |
|
|
Total comprehensive income |
- |
- |
|
|
At 31 May 2017 |
|
|
|
|
Page 3 |
Acre Company UK Limited
Notes to the Financial Statements for the Year Ended 31 May 2018
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
Post Office & Stores
Cripps Corner Road
Staplecross
East Sussex
TN32 5QA
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Investment property
basis.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
Page 4 |
Acre Company UK Limited
Notes to the Financial Statements for the Year Ended 31 May 2018
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investment properties |
2018 |
|
At 1 June |
|
There has been no valuation of investment property by an independent valuer.
Creditors |
Note |
2018 |
2017 |
|
Due within one year |
|||
Other creditors |
|
|
Related party transactions |
Transactions with directors |
2018 |
At 1 June 2017 |
Advances to directors |
Repayments by director |
At 31 May 2018 |
Gregory Zaks |
||||
Directors loan account |
(3,987) |
|
( |
( |
Page 5 |
Acre Company UK Limited
Notes to the Financial Statements for the Year Ended 31 May 2018
2017 |
At 1 June 2016 |
Advances to directors |
Repayments by director |
At 31 May 2017 |
Gregory Zaks |
||||
Directors loan account |
(1,834) |
|
( |
( |
Directors' remuneration
The director's remuneration for the year was as follows:
2018 |
2017 |
|
Remuneration |
|
|
Page 6 |