Silverfin false 31/03/2023 01/04/2022 31/03/2023 Gavin Strachan 21/04/2017 10 October 2023 The principal activity of the Company continued to be that of a leasing agent and factor for privately let houses. SC089496 2023-03-31 SC089496 bus:Director1 2023-03-31 SC089496 2022-03-31 SC089496 core:CurrentFinancialInstruments 2023-03-31 SC089496 core:CurrentFinancialInstruments 2022-03-31 SC089496 core:ShareCapital 2023-03-31 SC089496 core:ShareCapital 2022-03-31 SC089496 core:RevaluationReserve 2023-03-31 SC089496 core:RevaluationReserve 2022-03-31 SC089496 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC089496 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC089496 core:LandBuildings 2022-03-31 SC089496 core:OtherPropertyPlantEquipment 2022-03-31 SC089496 core:LandBuildings 2023-03-31 SC089496 core:OtherPropertyPlantEquipment 2023-03-31 SC089496 bus:OrdinaryShareClass1 2023-03-31 SC089496 2022-04-01 2023-03-31 SC089496 bus:FullAccounts 2022-04-01 2023-03-31 SC089496 bus:SmallEntities 2022-04-01 2023-03-31 SC089496 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC089496 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC089496 bus:Director1 2022-04-01 2023-03-31 SC089496 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC089496 2021-04-01 2022-03-31 SC089496 core:LandBuildings 2022-04-01 2023-03-31 SC089496 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 SC089496 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC089496 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC089496 (Scotland)

HOMEGUARD LEASING LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

HOMEGUARD LEASING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

HOMEGUARD LEASING LTD

BALANCE SHEET

AS AT 31 MARCH 2023
HOMEGUARD LEASING LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 175,155 175,352
175,155 175,352
Current assets
Debtors 4 1,500 1,402
Cash at bank and in hand 5 163,294 191,673
164,794 193,075
Creditors: amounts falling due within one year 6 ( 123,031) ( 165,551)
Net current assets 41,763 27,524
Total assets less current liabilities 216,918 202,876
Provision for liabilities 7 ( 5,224) ( 9,875)
Net assets 211,694 193,001
Capital and reserves
Called-up share capital 8 50,400 50,400
Revaluation reserve 29,625 29,625
Profit and loss account 131,669 112,976
Total shareholders' funds 211,694 193,001

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Homeguard Leasing Ltd (registered number: SC089496) were approved and authorised for issue by the Director on 10 October 2023. They were signed on its behalf by:

Gavin Strachan
Director
HOMEGUARD LEASING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
HOMEGUARD LEASING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Homeguard Leasing Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 115 Rosemount Place, Aberdeen, AB25 2YG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax and is recognised in the financial statements when the company has obtained the right to consideration.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period which they relate.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 3 years straight line

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 9

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2022 175,000 40,645 215,645
At 31 March 2023 175,000 40,645 215,645
Accumulated depreciation
At 01 April 2022 0 40,293 40,293
Charge for the financial year 0 197 197
At 31 March 2023 0 40,490 40,490
Net book value
At 31 March 2023 175,000 155 175,155
At 31 March 2022 175,000 352 175,352

Revaluation of tangible assets

Land and buildings with a carrying amount of £175,000 were revalued at 31 March 2020 by AB Robb, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties. The director believes that the market value at 31 March 2023 was unchanged at £175,000.

2023 2022
£ £
Historical cost 135,500 135,500
Accumulated depreciation (83,862) (81,152)
Carrying value 51,638 54,348

4. Debtors

2023 2022
£ £
Other debtors 1,500 1,402

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 163,294 191,673

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 64,853 93,176
Taxation and social security 34,893 46,086
Other creditors 23,285 26,289
123,031 165,551

7. Provision for liabilities

2023 2022
£ £
Deferred tax 5,224 9,875

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50,400 Ordinary shares of £ 1.00 each 50,400 50,400

9. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 18,480 21,989