2022-04-012023-03-312023-03-31false07990567Home Rent West Wales 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Home Rent West Wales Limited

Registered Number
07990567
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Home Rent West Wales Limited
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

G G Perfect
C A Perfect

Registered Address

Ffynnonddofn
74 High Street
Fishguard
SA65 9AU

Registered Number

07990567 (England and Wales)
Home Rent West Wales Limited
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets659,43125,081
59,43125,081
Current assets
Debtors81,853,9011,682,354
Cash at bank and on hand16,01228,406
1,869,9131,710,760
Creditors amounts falling due within one year9(1,220,766)(1,060,806)
Net current assets (liabilities)649,147649,954
Total assets less current liabilities708,578675,035
Creditors amounts falling due after one year10(39,510)(43,847)
Net assets669,068631,188
Capital and reserves
Called up share capital1010
Profit and loss account669,058631,178
Shareholders' funds669,068631,188
The financial statements were approved and authorised for issue by the Board of Directors on 16 October 2023, and are signed on its behalf by:
G G Perfect
Director
Registered Company No. 07990567
Home Rent West Wales Limited
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company during the year was the management of commercial and domestic rental property.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on short leasehold property on the straight line basis over 25 years.
Revenue recognition policy
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.
Deferred tax policy
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.
5.Employee information
There were no employees during the years ended 31 March 2022 and 31 March 2021.

20232022
Average number of employees during the year00
6.Property, plant and equipment

Land & buildings

Vehicles

Total

£££
Cost or valuation
At 01 April 2220,41111,07531,486
Additions-40,01040,010
At 31 March 2320,41151,08571,496
Depreciation and impairment
At 01 April 226,405-6,405
Charge for year8084,8525,660
At 31 March 237,2134,85212,065
Net book value
At 31 March 2313,19846,23359,431
At 31 March 2214,00611,07525,081
7.Description of nature of transactions and balances with related parties
The directors, Mr & Mrs G G Perfect, have advanced funds to the company; the balance owing to them at the balance sheet date was £4,042 (2022 - £14,201).
8.Debtors

2023

2022

££
Trade debtors / trade receivables13,10736,298
Other debtors1,840,7741,643,649
Prepayments and accrued income202,407
Total1,853,9011,682,354
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.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables1106,918
Bank borrowings and overdrafts4,3384,148
Taxation and social security1,37925,310
Other creditors1,214,9391,024,430
Total1,220,7661,060,806
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.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts39,51043,847
Total39,51043,847