Registered number
08075820
Home Straight Partnership Ltd
Filleted Accounts
31 May 2023
Home Straight Partnership Ltd
Registered number: 08075820
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 4,000 4,000
Tangible assets 4 3,890 2,198
7,890 6,198
Current assets
Debtors 5 174,804 136,705
Cash at bank and in hand 162,086 108,628
336,890 245,333
Creditors: amounts falling due within one year 6 (197,465) (178,256)
Net current assets 139,425 67,077
Net assets 147,315 73,275
Capital and reserves
Called up share capital 3 3
Profit and loss account 147,312 73,272
Shareholders' funds 147,315 73,275
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.
G L Balmford
Director
Approved by the board on 2 October 2023
Home Straight Partnership Ltd
Notes to the Accounts
for the year ended 31 May 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 and value added taxes. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 32 32
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 10,000
At 31 May 2023 10,000
Amortisation
At 1 June 2022 6,000
At 31 May 2023 6,000
Net book value
At 31 May 2023 4,000
At 31 May 2022 4,000
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 15,211
Additions 3,115
Disposals (478)
At 31 May 2023 17,848
Depreciation
At 1 June 2022 13,013
Charge for the year 1,273
On disposals (328)
At 31 May 2023 13,958
Net book value
At 31 May 2023 3,890
At 31 May 2022 2,198
5 Debtors 2023 2022
£ £
Trade debtors 169,398 132,205
Other debtors 5,406 4,500
174,804 136,705
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 103,048 91,478
Deferred income 35,087 33,675
Taxation and social security costs 40,550 32,043
Other creditors 18,780 21,060
197,465 178,256
7 Other information
Home Straight Partnership Ltd is a private company limited by shares and incorporated in England. Its registered office is:
16a Suite 18
Oakham Enterprise park
Oalham
Rutland
LE15 7TU
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