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COMPANY REGISTRATION NUMBER: 5512492
TO YOUR HOME LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
TO YOUR HOME LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
Contents
Page
Balance sheet 1
Notes to the financial statements 3
TO YOUR HOME LIMITED
BALANCE SHEET
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
901,697
856,454
Current assets
Stocks
742,591
806,200
Debtors
7
179,494
102,046
Cash at bank and in hand
445,385
446,593
------------
------------
1,367,470
1,354,839
Creditors: amounts falling due within one year
8
( 657,161)
( 630,305)
------------
------------
Net current assets
710,309
724,534
------------
------------
Total assets less current liabilities
1,612,006
1,580,988
Creditors: amounts falling due after more than one year
9
( 577,233)
( 601,475)
Provisions
Taxation including deferred tax
( 31,291)
( 15,894)
------------
------------
Net assets
1,003,482
963,619
------------
------------
Capital and reserves
Called up share capital
11
100
100
Profit and loss account
1,003,382
963,519
------------
------------
Shareholders funds
1,003,482
963,619
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TO YOUR HOME LIMITED
BALANCE SHEET (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 2 November 2023 , and are signed on behalf of the board by:
M J Dillingham
Director
Company registration number: 5512492
TO YOUR HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. General information
The company is a private company limited by shares, registered in England and Wales, company number 5512492 . The address of the registered office is Century Works, Manchester Road, Millhouse Green, Sheffield, S36 9LQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the company, and rounded to the nearest £.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website
-
33.33% Straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost and subsequently stated at cost less any depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold land & bulidings
-
Over 30 years
Plant and machinery
-
15% Reducing balance
Fixtures and fittings
-
15% Reducing balance
Motor vehicles
-
25% Reducing balance
Office equipment
-
33.33% Straight line
Stocks
Stocks are stated at the lower of cost and net realisable value.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs is the contributions payable in the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2022: 11 ).
5. Intangible assets
Website
£
Cost
At 1 April 2022 and 31 March 2023
14,037
------------
Amortisation
At 1 April 2022 and 31 March 2023
14,037
------------
Carrying amount
At 31 March 2023
------------
At 31 March 2022
------------
6. Tangible assets
Freehold property
Fixtures and fittings
Plant and machinery
Motor vehicles
Office equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2022
903,466
28,543
83,976
4,217
1,020,202
Additions
37,691
1,845
56,073
2,069
97,678
Disposals
( 2,609)
( 2,609)
------------
------------
------------
------------
------------
------------
At 31 Mar 2023
941,157
28,543
83,212
56,073
6,286
1,115,271
------------
------------
------------
------------
------------
------------
Depreciation
At 1 Apr 2022
129,958
12,393
17,672
3,725
163,748
Charge for the year
27,099
2,554
10,010
11,682
779
52,124
Disposals
( 2,298)
( 2,298)
------------
------------
------------
------------
------------
------------
At 31 Mar 2023
157,057
14,947
25,384
11,682
4,504
213,574
------------
------------
------------
------------
------------
------------
Carrying amount
At 31 Mar 2023
784,100
13,596
57,828
44,391
1,782
901,697
------------
------------
------------
------------
------------
------------
At 31 Mar 2022
773,508
16,150
66,304
492
856,454
------------
------------
------------
------------
------------
------------
7. Debtors
2023
2022
£
£
Trade debtors
34,785
17,425
Prepayments and accrued income
144,709
84,621
------------
------------
179,494
102,046
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
18,000
18,078
Trade creditors
82,240
57,073
Accruals and deferred income
38,933
34,203
Corporation tax
28,840
42,670
Social security and other taxes
68,321
35,658
Directors' loan accounts
280,330
302,016
Other creditors
140,497
140,607
------------
------------
657,161
630,305
------------
------------
The bank loans are secured by a legal charge over the company's freehold property.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
528,967
547,555
Other creditors
48,266
53,920
------------
------------
577,233
601,475
------------
------------
The bank loans are secured by a legal charge over the company's freehold property.
Included within creditors: amounts falling due after more than one year is an amount of £456,967 (2022: £475,244) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions
31,291
15,894
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
33,589
17,830
Provisions
( 2,298)
( 1,936)
------------
------------
31,291
15,894
------------
------------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------