Company Registration No. 4562249 (England and Wales)
HOMEMASTER REMOVALS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
PAGES FOR FILING WITH REGISTRAR
HOMEMASTER REMOVALS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HOMEMASTER REMOVALS LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2021
31 October 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
132,604
137,995
Current assets
Debtors
5
7,725
13,970
Cash at bank and in hand
209,869
194,312
217,594
208,282
Creditors: amounts falling due within one year
6
(99,001)
(89,264)
Net current assets
118,593
119,018
Total assets less current liabilities
251,197
257,013
Provisions for liabilities
(24,948)
(25,800)
Net assets
226,249
231,213
Capital and reserves
Called up share capital
7
2,500
2,500
Profit and loss reserves
223,749
228,713
Total equity
226,249
231,213

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HOMEMASTER REMOVALS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2021
31 October 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 March 2022 and are signed on its behalf by:
Mr E  Beedles
Director
Company Registration No. 4562249
HOMEMASTER REMOVALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Homemaster Removals Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Wharf Business Park, Pontesbury, Shrewsbury, SY5 0QL.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Straight line over the life of the lease
Plant and machinery
10% reducing balance
Fixtures, fittings & equipment
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

HOMEMASTER REMOVALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
2
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

2.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
2
2
HOMEMASTER REMOVALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
- 5 -
4
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2020
22,656
352,486
15,164
45,785
436,091
Additions
-
0
13,441
100
-
0
13,541
At 31 October 2021
22,656
365,927
15,264
45,785
449,632
Depreciation and impairment
At 1 November 2020
21,841
234,087
14,884
27,284
298,096
Depreciation charged in the year
815
13,184
308
4,625
18,932
At 31 October 2021
22,656
247,271
15,192
31,909
317,028
Carrying amount
At 31 October 2021
-
0
118,656
72
13,876
132,604
At 31 October 2020
815
118,399
280
18,501
137,995
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
7,579
10,874
Corporation tax recoverable
-
0
2,950
Other debtors
146
146
7,725
13,970
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
5,431
5,435
Corporation tax
15,035
15,300
Other taxation and social security
7,896
4,403
Other creditors
58,476
57,074
Accruals and deferred income
12,163
7,052
99,001
89,264
HOMEMASTER REMOVALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
- 6 -
7
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,000
2,000
2,000
2,000
A Ordinary shares of £1 each
500
500
500
500
2,500
2,500
2,500
2,500
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2021
2020
£
£
6,257
5,468
9
Directors' transactions

Dividends totalling £65,000 (2020 - £65,000) were paid in the year in respect of shares held by the company's directors and other family members.

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