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REGISTERED NUMBER: 10007651 (England and Wales)






Home Utility Group Limited

Financial Statements

for the Year Ended 31 March 2023






Home Utility Group Limited (Registered number: 10007651)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Home Utility Group Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: Mr K M Carney
Mr N A Davis
Mr A P Turner
Mrs A M Lockwood





REGISTERED OFFICE: Unit 5 Asquith Avenue Business Park
Asquith Avenue
Gildersome
Leeds
West Yorkshire
LS27 7RZ





REGISTERED NUMBER: 10007651 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Home Utility Group Limited (Registered number: 10007651)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 44,402 31,712
Tangible assets 5 119,524 32,078
163,926 63,790

CURRENT ASSETS
Debtors 6 964,710 565,202
Cash at bank 361,716 574,588
1,326,426 1,139,790
CREDITORS
Amounts falling due within one year 7 891,186 701,331
NET CURRENT ASSETS 435,240 438,459
TOTAL ASSETS LESS CURRENT
LIABILITIES

599,166

502,249

CREDITORS
Amounts falling due after more than one
year

8

(110,400

)

(32,325

)

PROVISIONS FOR LIABILITIES (40,609 ) (11,789 )
NET ASSETS 448,157 458,135

Home Utility Group Limited (Registered number: 10007651)

Balance Sheet - continued
31 March 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium 29,980 29,980
Retained earnings 418,077 428,055
SHAREHOLDERS' FUNDS 448,157 458,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





Mr K M Carney - Director


Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements
for the year ended 31 March 2023


1. STATUTORY INFORMATION

Home Utility Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised with reference to the stage of completion of the installation, service or repair.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Fixed assets are initially recorded at cost.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 29 ) .

Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. INTANGIBLE FIXED ASSETS
Trademarks Website Totals
£ £ £
COST
At 1 April 2022 3,100 53,353 56,453
Additions - 21,513 21,513
At 31 March 2023 3,100 74,866 77,966
AMORTISATION
At 1 April 2022 1,360 23,381 24,741
Amortisation for year 250 8,573 8,823
At 31 March 2023 1,610 31,954 33,564
NET BOOK VALUE
At 31 March 2023 1,490 42,912 44,402
At 31 March 2022 1,740 29,972 31,712

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 April 2022 20,019 2,240 36,854 10,310 69,423
Additions 3,206 646 131,250 2,313 137,415
Disposals - - (16,029 ) (1,970 ) (17,999 )
At 31 March 2023 23,225 2,886 152,075 10,653 188,839
DEPRECIATION
At 1 April 2022 9,425 968 18,411 8,541 37,345
Charge for year 3,484 433 37,424 1,866 43,207
Eliminated on disposal - - (9,267 ) (1,970 ) (11,237 )
At 31 March 2023 12,909 1,401 46,568 8,437 69,315
NET BOOK VALUE
At 31 March 2023 10,316 1,485 105,507 2,216 119,524
At 31 March 2022 10,594 1,272 18,443 1,769 32,078

Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
Additions 131,250
At 31 March 2023 131,250
DEPRECIATION
Charge for year 32,813
At 31 March 2023 32,813
NET BOOK VALUE
At 31 March 2023 98,437

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 703,287 481,578
Amounts owed by related undertakings 199,134 -
Other debtors 1,400 1,400
Directors' current accounts 56,168 78,441
Prepayments and accrued income 4,721 3,783
964,710 565,202

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,954 9,708
Hire purchase contracts (see note 9) 32,283 -
Trade creditors 562,157 514,925
Tax 27,405 45,350
Social security and other taxes 38,627 24,651
VAT 99,892 102,972
Other creditors 103,368 -
Directors' current accounts 13,500 -
Accruals and deferred income 4,000 3,725
891,186 701,331

Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 22,371 32,325
Hire purchase contracts (see note 9) 88,029 -
110,400 32,325

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 32,283 -
Between one and five years 88,029 -
120,312 -

Non-cancellable
operating leases
2023 2022
£ £
Within one year 2,380 68,227
Between one and five years 20,822 19,563
23,202 87,790

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£ £
Mr K M Carney
Balance outstanding at start of year 39,545 -
Amounts advanced 75,247 39,545
Amounts repaid (87,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,792 39,545

Mr N A Davis
Balance outstanding at start of year 38,896 -
Amounts advanced 76,480 38,896
Amounts repaid (87,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,376 38,896