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Company Registration No. 10919223 (England and Wales)
HOME ESSENCE LTD Unaudited accounts for the year ended 30 September 2023
HOME ESSENCE LTD Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,287 
613 
Current assets
Inventories
376,495 
415,640 
Debtors
2,000 
2,000 
Cash at bank and in hand
60,429 
57,985 
438,924 
475,625 
Creditors: amounts falling due within one year
(387,192)
(418,589)
Net current assets
51,732 
57,036 
Total assets less current liabilities
73,019 
57,649 
Creditors: amounts falling due after more than one year
(25,181)
(26,790)
Provisions for liabilities
Deferred tax
(678)
(117)
Net assets
47,160 
30,742 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
47,159 
30,741 
Shareholders' funds
47,160 
30,742 
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 October 2023 and were signed on its behalf by
Raghbir Kaur Dhanoa Director Company Registration No. 10919223
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HOME ESSENCE LTD Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
HOME ESSENCE LTD is a private company, limited by shares, registered in England and Wales, registration number 10919223. The registered office is Unit 16k, Calderdale Business Park, Club Lane, Halifax, HX2 8DB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Fixtures & fittings
20% on reducing balance
Inventories
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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HOME ESSENCE LTD Notes to the Accounts for the year ended 30 September 2023
Going concern
The director has carried out a detailed review of the company's resources and projected income streams. She is confident that the company has sufficient cash flows to meets its liabilities as they fall due for at least one year from the date of approval of the financial statements. Therefore, the company continues to adopt the going concern basis in preparing the financial statements.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 October 2022
2,300 
Additions
27,369 
At 30 September 2023
29,669 
Depreciation
At 1 October 2022
1,687 
Charge for the year
6,695 
At 30 September 2023
8,382 
Net book value
At 30 September 2023
21,287 
At 30 September 2022
613 
5
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
678 
117 
2023 
2022 
£ 
£ 
Provision at start of year
117 
152 
Charged/(credited) to the profit and loss account
561 
(35)
Provision at end of year
678 
117 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
7
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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