Registered number
11302533
HOUMTREE LIMITED
Filleted Accounts
28 February 2023
HOUMTREE LIMITED
Registered number: 11302533
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 3,740
Current assets
Cash at bank and in hand 38,838 133,860
Creditors: amounts falling due within one year 4 (3,961) (44,136)
Net current assets 34,877 89,724
Total assets less current liabilities 34,877 93,464
Creditors: amounts falling due after more than one year 5 (200,000) (200,000)
Net liabilities (165,123) (106,536)
Capital and reserves
Called up share capital 1 1
Profit and loss account (165,124) (106,537)
Shareholder's funds (165,123) (106,536)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Iya Popova
Director
Approved by the board on 27 November 2023
HOUMTREE LIMITED
Notes to the Accounts
for the year ended 28 February 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.
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:
Plant and machinery over 4 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 4,796
Disposals (4,796)
At 28 February 2023 -
Depreciation
At 1 March 2022 1,056
On disposals (1,056)
At 28 February 2023 -
Net book value
At 28 February 2023 -
At 28 February 2022 3,740
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 23
Director's loan account 741 40,793
VAT Liabilities - 2,270
Other creditors 3,220 1,050
3,961 44,136
5 Creditors: amounts falling due after one year 2023 2022
£ £
Director's loan account 200,000 200,000
6 Related party transactions
The director Mrs Iya Popova is owed £200,000 as a long term loan and is unsecured and subordinated in favour of third party creditors of the company.
7 Other information
HOUMTREE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
C/O UKMAL Unit 7
3-5 Little Somerset Street
London
E1 8AH
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