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Company Registration No. 09945570 (England and Wales)
Housing Finance Associates Ltd Unaudited accounts for the year ended 31 January 2023
Housing Finance Associates Ltd Unaudited accounts Contents
Page
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Housing Finance Associates Ltd Company Information for the year ended 31 January 2023
Directors
Mr Peter Glenn Smith Mrs Margaret Elizabeth Smith
Company Number
09945570 (England and Wales)
Registered Office
32 WEST VIEW NEWENT GLOUCESTERSHIRE GL18 1TE ENGLAND
Accountants
The Practice - Chartered Management Accountants 2 New Street Ledbury Herefordshire HR8 2DX
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Housing Finance Associates Ltd for the year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Housing Finance Associates Ltd for the year ended 31 January 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
This report is made solely to the Board of Directors of Housing Finance Associates Ltd, as a body, in accordance with the terms of our engagement letter dated 1 September 2017. Our work has been undertaken solely to prepare for your approval the accounts of Housing Finance Associates Ltd and state those matters that we have agreed to state to the Board of Directors of Housing Finance Associates Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Housing Finance Associates Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Housing Finance Associates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Housing Finance Associates Ltd. You consider that Housing Finance Associates Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Housing Finance Associates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
The Practice - Chartered Management Accountants Member in Practice 2 New Street Ledbury Herefordshire HR8 2DX 22 June 2023
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Housing Finance Associates Ltd Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
619 
1,221 
Current assets
Debtors
33,834 
15,296 
Cash at bank and in hand
127,263 
106,394 
161,097 
121,690 
Creditors: amounts falling due within one year
(121,502)
(98,524)
Net current assets
39,595 
23,166 
Total assets less current liabilities
40,214 
24,387 
Provisions for liabilities
Deferred tax
(88)
(190)
Net assets
40,126 
24,197 
Capital and reserves
Called up share capital
100 
4 
Profit and loss account
40,026 
24,193 
Shareholders' funds
40,126 
24,197 
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2023 and were signed on its behalf by
Mr Peter Glenn Smith Director Company Registration No. 09945570
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Housing Finance Associates Ltd Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Housing Finance Associates Ltd is a private company, limited by shares, registered in England and Wales, registration number 09945570. The registered office is 32 WEST VIEW, NEWENT, GLOUCESTERSHIRE, GL18 1TE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25%
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 February 2022
4,939 
Additions
12 
At 31 January 2023
4,951 
Depreciation
At 1 February 2022
3,718 
Charge for the year
614 
At 31 January 2023
4,332 
Net book value
At 31 January 2023
619 
At 31 January 2022
1,221 
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Housing Finance Associates Ltd Notes to the Accounts for the year ended 31 January 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
32,710 
14,455 
Accrued income and prepayments
1,124 
841 
33,834 
15,296 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
2,600 
602 
Taxes and social security
28,594 
24,835 
Loans from directors
32,995 
34,195 
Deferred income
57,313 
38,892 
121,502 
98,524 
7
Transactions with related parties
Loan from director, 0% interest with no fixed repayment date. Mr Peter Glenn Smith £32,995 (2022 £34,195)
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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