Registered number
07559799
Housing Action Management Ltd
Filleted Accounts
31 March 2022
Housing Action Management Ltd
Registered number: 07559799
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 1,435,639 1,353,778
Current assets
Debtors 4 2,154,543 2,092,701
Cash at bank and in hand 413,909 907,182
2,568,452 2,999,883
Creditors: amounts falling due within one year 5 (1,798,301) (2,252,608)
Net current assets 770,151 747,275
Total assets less current liabilities 2,205,790 2,101,053
Creditors: amounts falling due after more than one year 6 (790,043) (844,707)
Net assets 1,415,747 1,256,346
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,415,647 1,256,246
Shareholders' funds 1,415,747 1,256,346
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Kelly Rosemary Glenda Mitchell
Director
Approved by the board on 31 August 2022
Housing Action Management Ltd
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% on written down value
Motor vehicles 25% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 30 27
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2021 1,196,781 142,641 195,850 1,535,272
Additions - 38,134 102,230 140,364
Disposals - - (2,750) (2,750)
At 31 March 2022 1,196,781 180,775 295,330 1,672,886
Depreciation
At 1 April 2021 - 67,178 114,316 181,494
Charge for the year - 11,887 45,746 57,633
On disposals - - (1,880) (1,880)
At 31 March 2022 - 79,065 158,182 237,247
Net book value
At 31 March 2022 1,196,781 101,710 137,148 1,435,639
At 31 March 2021 1,196,781 75,463 81,534 1,353,778
4 Debtors 2022 2021
£ £
Trade debtors 1,187,140 1,237,660
Other debtors 967,403 855,041
2,154,543 2,092,701
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 406,369 411,731
Trade creditors 268,556 183,784
Corporation tax 28,534 84,229
Other taxes and social security costs 432,062 716,200
Other creditors 662,780 856,664
1,798,301 2,252,608
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 790,043 844,707
7 Other information
Housing Action Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
190 Billet Road
London
E17 5DX
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