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REGISTERED NUMBER: SC724746 (Scotland)






































Homepack Property Ltd

Unaudited Financial Statements

for the period

1st March 2022 to 31st March 2023






Homepack Property Ltd (Registered number: SC724746)






Contents of the Financial Statements
for the period 1st March 2022 to 31st March 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Homepack Property Ltd

Company Information
for the period 1st March 2022 to 31st March 2023







Director: A G S Worters





Registered office: Linthill Farmhouse
Eyemouth
TD1 45TG





Business address: 30 Woodmarket
Kelso
Roxburghshire
TD5 7AX





Registered number: SC724746 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Homepack Property Ltd (Registered number: SC724746)

Balance Sheet
31st March 2023

Notes £    £   
Fixed assets
Intangible assets 4 2,500
Tangible assets 5 18,231
20,731

Current assets
Debtors 6 4,546
Cash at bank 6,694
11,240
Creditors
Amounts falling due within one year 7 7,947
Net current assets 3,293
Total assets less current liabilities 24,024

Provisions for liabilities 3,464
Net assets 20,560

Capital and reserves
Called up share capital 100
Retained earnings 20,460
20,560

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

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

The director acknowledges his 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.

Homepack Property Ltd (Registered number: SC724746)

Balance Sheet - continued
31st 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th November 2023 and were signed by:





A G S Worters - Director


Homepack Property Ltd (Registered number: SC724746)

Notes to the Financial Statements
for the period 1st March 2022 to 31st March 2023

1. Statutory information

Homepack Property Ltd is a private company, limited by shares , registered in Scotland. 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.

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 arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

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.

The Trademark is being amortised evenly over it's estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures, fittings and equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade creditors, accruals and directors' loans.

Directors' loans (being repayable on demand), trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Homepack Property Ltd (Registered number: SC724746)

Notes to the Financial Statements - continued
for the period 1st March 2022 to 31st March 2023

2. Accounting policies - continued
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 period 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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a period of 12 months from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the period was 1 .

4. Intangible fixed assets
Trademark
£   
Cost
Additions 2,778
At 31st March 2023 2,778
Amortisation
Amortisation for period 278
At 31st March 2023 278
Net book value
At 31st March 2023 2,500

Homepack Property Ltd (Registered number: SC724746)

Notes to the Financial Statements - continued
for the period 1st March 2022 to 31st March 2023

5. Tangible fixed assets
Fixtures,
Improvements fittings
to and
property equipment Totals
£    £    £   
Cost
Additions 9,772 10,120 19,892
At 31st March 2023 9,772 10,120 19,892
Depreciation
Charge for period 977 684 1,661
At 31st March 2023 977 684 1,661
Net book value
At 31st March 2023 8,795 9,436 18,231

6. Debtors: amounts falling due within one year
£   
Other debtors 4,546

7. Creditors: amounts falling due within one year
£   
Trade creditors 1,770
Taxation and social security 4,917
Other creditors 1,260
7,947

8. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the period ended 31st March 2023:


2023
£
Director 1
Balance outstanding at start of period -
Amounts advanced 26,332
Amounts repaid (23,046 )
Balance outstanding at end of period 3,286