The Homebuilding Centre Ltd 08699770 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Letting of exhibition space and conferencing facilities Digita Accounts Production Advanced 6.30.9574.0 true true true 08699770 2022-04-01 2023-03-31 08699770 2023-03-31 08699770 bus:OrdinaryShareClass1 2023-03-31 08699770 core:CurrentFinancialInstruments 2023-03-31 08699770 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08699770 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08699770 core:FurnitureFittingsToolsEquipment 2023-03-31 08699770 core:OtherPropertyPlantEquipment 2023-03-31 08699770 bus:SmallEntities 2022-04-01 2023-03-31 08699770 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08699770 bus:AbridgedAccounts 2022-04-01 2023-03-31 08699770 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08699770 bus:RegisteredOffice 2022-04-01 2023-03-31 08699770 bus:CompanySecretaryDirector1 2022-04-01 2023-03-31 08699770 bus:Director1 2022-04-01 2023-03-31 08699770 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08699770 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08699770 core:ComputerEquipment 2022-04-01 2023-03-31 08699770 core:FurnitureFittings 2022-04-01 2023-03-31 08699770 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 08699770 core:LeaseholdImprovements 2022-04-01 2023-03-31 08699770 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 08699770 core:ParentEntities 2022-04-01 2023-03-31 08699770 1 2022-04-01 2023-03-31 08699770 countries:EnglandWales 2022-04-01 2023-03-31 08699770 2022-03-31 08699770 core:FurnitureFittingsToolsEquipment 2022-03-31 08699770 core:OtherPropertyPlantEquipment 2022-03-31 08699770 2021-04-01 2022-03-31 08699770 2022-03-31 08699770 bus:OrdinaryShareClass1 2022-03-31 08699770 core:CurrentFinancialInstruments 2022-03-31 08699770 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 08699770 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 08699770 core:FurnitureFittingsToolsEquipment 2022-03-31 08699770 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08699770

The Homebuilding Centre Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

The Homebuilding Centre Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

The Homebuilding Centre Ltd

Company Information

Directors

Mr Harvey Fremlin

Mr John Lewis

Company secretary

Mr John Lewis

Registered office

1st Floor Offices
2 Whitebridge Lane
Stone
Staffordshire
ST15 8LQ

Accountants

MI Accountancy Solutions Limited
1st Floor Offices
2 Whitebridge Lane
Stone
Staffordshire
ST15 8LQ

 

The Homebuilding Centre Ltd

(Registration number: 08699770)
Abridged Balance Sheet as at 31 March 2023

Note

31 March
2023
£

31 March
2022
£

Fixed assets

 

Tangible assets

4

97,387

86,100

Current assets

 

Debtors

5

315,980

220,175

Cash at bank and in hand

 

570,819

468,378

 

886,799

688,553

Prepayments and accrued income

 

100,251

167,540

Creditors: Amounts falling due within one year

(146,882)

(156,812)

Net current assets

 

840,168

699,281

Total assets less current liabilities

 

937,555

785,381

Creditors: Amounts falling due after more than one year

-

(63,320)

Accruals and deferred income

 

(283,289)

(248,835)

Net assets

 

654,266

473,226

Capital and reserves

 

Called up share capital

6

250,000

250,000

Retained earnings

404,266

223,226

Shareholders' funds

 

654,266

473,226

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

The Homebuilding Centre Ltd

(Registration number: 08699770)
Abridged Balance Sheet as at 31 March 2023

Approved and authorised by the Board on 18 October 2023 and signed on its behalf by:
 

H Fremlin

Mr Harvey Fremlin

Director

 

The Homebuilding Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor Offices
2 Whitebridge Lane
Stone
Staffordshire
ST15 8LQ

These financial statements were authorised for issue by the Board on 18 October 2023.

2

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Homebuilding Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

2 years straight line

Fixtures and fittings

10 years straight line

Leasehold improvements

5 - 10 years straight line

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 and subsequently measured at amortised cost using the effective interest method.

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.

 

The Homebuilding Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

78,751

108,261

187,012

Additions

512

40,290

40,802

At 31 March 2023

79,263

148,551

227,814

Depreciation

At 1 April 2022

30,943

69,999

100,942

Charge for the year

15,365

14,120

29,485

At 31 March 2023

46,308

84,119

130,427

Carrying amount

At 31 March 2023

32,955

64,432

97,387

At 31 March 2022

47,808

38,292

86,100

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

The Homebuilding Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

 

31 March
2023

31 March
2022

 

No.

£

No.

£

Ordinary of £1 each

250,000

250,000

250,000

250,000

         

7

Related party transactions

Summary of transactions with parent

During the period a management charge of £433,653 (2022: £421,598) was levied by the parent company. The Homebuilding Centre (Holdings) Limited.
 

8

Parent and ultimate parent undertaking

The company's immediate parent is The Homebuilding Centre (Holdings) Limited, incorporated in England and Wales.