Registered number
11929781
Itsmyhome Ltd
Filleted Accounts
30 April 2023
Itsmyhome Ltd
Registered number: 11929781
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Current assets
Stocks 205,186 205,186
Cash at bank and in hand 3 287
205,189 205,473
Creditors: amounts falling due within one year 3 (64,586) (68,059)
Net current assets 140,603 137,414
Total assets less current liabilities 140,603 137,414
Creditors: amounts falling due after more than one year 4 (143,273) (143,273)
Net liabilities (2,670) (5,859)
Capital and reserves
Called up share capital 2 2
Profit and loss account (2,672) (5,861)
Shareholders' funds (2,670) (5,859)
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.
Dr Timothy Chinedum Onyenobi
Director
Approved by the board on 10 August 2023
Itsmyhome Ltd
Notes to the Accounts
for the year ended 30 April 2023
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. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals and deferred income 373 373
Director's account 44,400 47,773
Other creditors 19,813 19,913
64,586 68,059
4 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 143,273 143,273
5 Other information
Itsmyhome Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 97, Cariocca Business Park
Sawley Road, Miles Platting
Manchester
M40 8BB
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