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REGISTERED NUMBER: 01120604 (England and Wales)















HOME IMPROVEMENTS (POWYS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)






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 IMPROVEMENTS (POWYS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: R Morgan
D P Morgan





SECRETARY: D P Morgan





REGISTERED OFFICE: West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ





REGISTERED NUMBER: 01120604 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 250 90
Investment property 5 747,655 741,309
747,905 741,399

CURRENT ASSETS
Debtors 6 4,140 8,009
Cash at bank 242,838 250,692
246,978 258,701
CREDITORS
Amounts falling due within one year 7 323,424 264,727
NET CURRENT LIABILITIES (76,446 ) (6,026 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

671,459

735,373

PROVISIONS FOR LIABILITIES 41,360 41,362
NET ASSETS 630,099 694,011

CAPITAL AND RESERVES
Called up share capital 8 100 100
Non-distributable reserve 9 475,982 475,982
Retained earnings 9 154,017 217,929
SHAREHOLDERS' FUNDS 630,099 694,011

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.

HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

BALANCE SHEET - continued
31 MARCH 2023


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 24 August 2023 and were signed on its behalf by:





D P Morgan - Director


HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Home Improvements (Powys) 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.

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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 10,274 1,874 12,148
Additions 203 - 203
At 31 March 2023 10,477 1,874 12,351
DEPRECIATION
At 1 April 2022 10,184 1,874 12,058
Charge for year 43 - 43
At 31 March 2023 10,227 1,874 12,101
NET BOOK VALUE
At 31 March 2023 250 - 250
At 31 March 2022 90 - 90

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 741,309
Additions 6,346
At 31 March 2023 747,655
NET BOOK VALUE
At 31 March 2023 747,655
At 31 March 2022 741,309

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2005 236,803
Valuation in 2006 221,364
Valuation in 2015 (14,531 )
Valuation in 2020 75,000
Valuation in 2023 6,346
Cost 222,673
747,655

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 229,019 222,673

The investment properties were valued on an open market basis on 1 May 2020 by Morris Marshall & Poole .

HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,436 6,606
Prepayments and accrued income 1,704 1,403
4,140 8,009

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Shareholder loan 149,644 123,331
Trade creditors 603 99
Tax 6,598 6,889
VAT 423 324
Directors' current accounts 163,224 132,909
Accruals and deferred income 2,932 1,175
323,424 264,727

8. CALLED UP SHARE CAPITAL

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

9. RESERVES
Retained Non-distributable
earnings reserve Totals
£    £    £   

At 1 April 2022 217,929 475,982 693,911
Profit for the year 28,088 28,088
Dividends (92,000 ) (92,000 )
At 31 March 2023 154,017 475,982 629,999